Given the rise in the government debt level in recent times, this paper aims to examine the effect of an increase in government size on risk premium and its transmission in the economy. We jointly identify the term spread shock (originating at the short end and the long end) and the government...

Monetary policy has seen a great transformation both in terms of objective and instruments since quantity theory. In India also the objective as well as the instruments of monetary policy has changed over time with changing domestic and international macroeconomic scenario. My objective in this...