Purpose - Though an accumulating body of study has analysed monetary policy transmission in India, there are few studies examining the differential impact of monetary policy action. Against this backdrop, this study aims to analyse the differential impact of monetary policy on aggregate demand,...

This paper applies Varian's(1982,1983) non-parametric tests to obtain weakly separable monetary assets for aggregation. Using annual data (1970-1996) it was found that the official monetary aggregates M2, M3 and M4 are theoretically admissible. Some new separable groups were also obtained in the...

This paper attempts an empirical evaluation of Divisia moneyary aggregates for India ,constructed using four assets, viz, currency with the public, net demand deposits with banks, net time deposits with banks, and post office savings deposits. The performance of these aggregates in relation to...

Purpose - Though an accumulating body of study has analysed monetary policy transmission in India, there are few studies examining the differential impact of monetary policy action. Against this backdrop, this study aims to analyse the differential impact of monetary policy on aggregate demand,...