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This paper provides an assessment of India's inflation-targeting regime. It shows that the Reserve Bank of India is … when setting policy rates. The paper does not find that the Reserve Bank of India became more hawkish following the …-targeting has enhanced the credibility of monetary policy such that the Reserve Bank of India is in a position to take extraordinary …
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The degree to which domestic prices adjust to exchange rate movements is key to understanding inflation dynamics, and hence to guiding monetary policy. However, the exchange rate pass-through to inflation varies considerably across countries and over time. By estimating structural...
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"This paper examines the effects of inflation targeting on industrial and emerging economies' output growth over the "globalization years" of 1986-2004. Controlling for trade openness and two indicators of financial globalization, the authors find systematic positive and significant effects of...
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