A New Keynesian model estimated for India yields valuable insights. Aggregate demand reacts to interest rate changes … with a lag of at least three quarters, with inflation taking seven quarters to respond. Inflation is inertial and … persistent when it sets in, irrespective of the source. Exchange rate pass-through to domestic inflation is low. Inflation turns …

unified treatment of monetary policy transmission and exchangerate pass-through. The results for an emerging market, India …, suggest that the most effective mechanism through which monetary policy impacts inflation runs through the exchange rate …

This paper provides new evidence on the credit channel of monetary policy transmission in India. Using stepwise … bank interest rates in India. There is evidence of asymmetric adjustment to monetary policy: the lending rate adjusts more …

, through the New Keynesian Phillips Curve, lower inflation. While the proposed model does a good job at matching the observed …

interest rate policy has worked better for boosting inflation in Italy and Spain than in Germany. …

, through the New Keynesian Phillips Curve, lower inflation. While the proposed model does a good job at matching the observed …