The paper lays out a consistent frame work for monetary management in the context of excess capital inflows. There is an urgent need for developing competitive, open and well regulated markets for (a) long term debt (b) rupee futures and forwards, and (c) interest rate /credit risk products, so...

This paper presents a simple model of technology development that leads to a reduction in production costs. With constant returns to scale, it assumes that q_t= kappa (t) f_t (k_t) where q_t and k_t are respectively output and capital both per unit of labour and kappa reflects the efficiency of...