This paper provides an assessment of India's inflation-targeting regime. It shows that the Reserve Bank of India is … best characterized as a flexible inflation targeter: contrary to criticism, it does not neglect changes in the output gap … transition to inflation-targeting; to the contrary, adjusting for inflation and the output gap, policy rates became lower, not …

Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy … allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of … the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing …