Showing 1 - 10 of 2,596
This study analyses India's inflation using the Phillips curve theory. To estimate an open-economy Phillips curve, we need three variables: (1) inflation (2) the output gap and (3) the real effective exchange rate. In India, the incorrect measurement of variables causes much difficulty in...
Persistent link: https://www.econbiz.de/10009535610
The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10010385761
This paper measures the magnitude of money and interest rate shocks in explaining the price and output movement in the post financial liberalization era of India. The objective is achieved through technique termed historical decomposition within the framework of Vector autoregressive Model....
Persistent link: https://www.econbiz.de/10014215338
The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at “price stability” in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10013033002
The present study examines the dynamic interactions among macroeconomic variables such as real output, prices, money supply, interest rate (IR), and exchange rate (EXR) in India during the pre-economic crisis and economic crisis periods, using the autoregressive distributed lag (ARDL) bounds...
Persistent link: https://www.econbiz.de/10013057984
In this paper, we explore linear and nonlinear Granger causalities between oil price and the real effective exchange rate of the Indian currency, known as ‘rupee’. First, we apply the standard time domain approach, but fail to find any causal relationship. So, we decompose the two series at...
Persistent link: https://www.econbiz.de/10010636280
Using high frequency price information and strengthening market intelligence on high-impact food items for nowcasting is an integral part of the inflation forecasting framework at the Reserve Bank of India. Three key vegetables viz., tomatoes, onions and potatoes (TOP), with a combined weight of...
Persistent link: https://www.econbiz.de/10014082933
In the present scenario of the world financial market, there seems to be stock exchange in almost every country expressing the financial health of the respective economy. In spite of this tremendous expansion of world trading, the basics of the market have remained more or less the same. Stock...
Persistent link: https://www.econbiz.de/10013035150
According to Monetarist Milton Friedman (1970), Inflation is always and everywhere a monetary phenomenon. There is a lack of consensus among researchers regarding the stimulus of changes in money supply over price level. Even though a very large number of researches conducted to understand the...
Persistent link: https://www.econbiz.de/10012911734
In this paper we study the relationship between output and inflation for India, Brazil, and South Africa using the EGARCH model. For India and South Africa, we find evidence for: (1) the Cukierman and Meltzer hypothesis that inflation volatility raises inflation; (2) the Friedman hypothesis that...
Persistent link: https://www.econbiz.de/10013066153