This paper reviews some of the more critical policy dilemmas facing the Reserve Bank of India (RBI) in its pursuit of inflation stabilization and balanced growth objectives. The challenge in meeting these objectives further increased in the mid-2000s with the advent of large capital flows into...

This paper contributes to the empirical understanding of monetary policy in five dimensions. First, specifiying a generalized Taylor equation that nests backward and forward-looking inflation and activity variables in setting policy rates. Second, using real-time data. Third, estimating the...

Branch (2014) shows that the asymmetric preference of professional forecasters enhances the fit of the original Taylor rule with respect to recent US monetary policy. This paper investigates the stability of the Taylor rule with asymmetric preference under adaptive learning. We find that when...

The paper explains the expediency of developing an explicit rule of monetary policy for the economy of Ukraine. It studies the stages of its development, proving the expediency of formation of monetary rules for money aggregates, evaluates equilibrium values of the rule’s parameters based on...

The conduct of the monetary policy could be view as a series of decisions in which the objectives and tools are chosen. This paper explores some aspects of the strategic decisions of the monetary policy such as the roles played by central banks and other public authorities, the main constraints...

This paper examines quantity-targeting monetary policy in a two-period economy with fiat money, endogenously incomplete markets of financial securities, durable goods and production. Short positions in financial assets and long-term loans are backed by collateral, the value of which depends on...

The paper aims to analyze the reasons why monetary policy is put into question by the transformations suffered during the recent decades by the financial systems of advanced industrial countries. It also seeks to highlight opportunities for improving monetary policy and its instruments, in...

The economic growth and the research of the inflation, as objectives of the monetary policy of a country, are a major problem for all the monetary authorities of all countries and a priority for economic analyses from different times. The fact that in the 20th century, all countries have known...

A graph representation of the financial relations in a given monetary structure is proposed. It is argued that the graph of debt-liability relations is naturally organized and simplified into a tree structure, around banks and a central bank. Indeed, this optimal graph allows to perform payments...

This paper examines the optimal frequency of monetary policy meetings when their schedule is pre-announced. Our contribution is twofold. First, we show that in the standard New Keynesian framework infrequent but periodic revision of monetary policy may be desirable even when there are no...