Economists have a variety of definitions of institutions and a plethora of factors impacting and bringing about a change in them. Understanding of what brings about a change in institutions is very important from the point of view of economic development. The important question is notwhich...

There has been a long drawn out controversy over explanation of inflation between Classicals, Keynesians, Monetarists, Structuralists etc. This paper aims to contribute towards the settling this controversy by empirically testing whether the monetarist explanation of inflation holds in India for...