The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in … the consequences of such policy measures in India, particularly during the period of the global recession. Not only did … India, this paper concludes that such monetarist policy measures have been responsible for stagnation, with a rise in price …

focussed on inflation targeting may not necessarily be effective in India where inflation and inflationary expectations … of past experience and international best practices. It confirms that food inflation has been the driver of domestic … inflation. The paper studies the recommendations of the Urjit Patel Committee and comments that monetary policies predominantly …

This paper focuses on modelling and forecasting inflation in India using an augmented Phillips curve framework. Both … demand and supply factors are seen as drivers of inflation. Demand conditions are found to have a stronger impact on non …-food manufactured products inflation (NFMP) vis-a-vis headline WPI inflation; moreover, NFMP is found to be more persistent than …

This paper examines the relative role of structural and monetary factors in the variation of inflation in India over … significant role. The role of the output gap in inflation is found more prominent than the monetary factors like broad money … inflation where as the interest rate is identified as an anti-inflationary monetary instrument. In view of a comprehensive …

We analyze the dramatic decline in India's inflation over the last two years using an augmented Phillips Curve approach …, we find that inflation is a highly persistent process in India, reflecting very adaptive expectations and the backward … lower oil prices in India's disinflation was relatively modest given the limited pass-through into domestic prices. Instead …

We study the inflation process in India, focusing on the periods before and after the adoption of flexible inflation …-forecast targeting (FIT) in India. Our analysis uses several approaches including standard Phillips curve estimation for headline and … core inflation, an examination of the sensitivity of medium-term inflation expectations to inflation surprises, and the …

inflation target at 4 per cent for India …Central to monetary policy is the concept of trend inflation to which actual inflation outcomes are expected to … converge after short run fluctuations die out. Accordingly, the inflation target needs to be fixed in alignment with trend …

In this paper, we estimate a structural shock (inflation shock) that explains maximum forecast error variance of … inflation using a structural vector auto regression (SVAR) framework. Our identification is agnostic and not based on sign and … zero restrictions commonly used in SVAR literature. Estimated shock explains more than 80 percent variance of inflation up …

fiscal policy. To our knowledge, the fiscal initiative to control inflation in India is abstracted. The targets and …, trade openness in addition to structural and monetary policy variables impacting inflation in India since the 1980′s. The … to stabilize inflation for the long-run. Prolific monetary-fiscal policy coordination in India is a fantasy …

This paper provides a Vector Auto-Regression (VAR) analysis of inflation and monetary policy. It identifies monetary … policy shocks in a benchmark recursive structure of VARs with two alternative inflation measures, viz., headline WPI and core … inflation measure. Unlike the results in case of WPI, the response of core prices declined swiftly, following a positive call …