Alternative Monetary Policy Rules for India /

This paper empirically evaluates the operational performance of the McCallum rule, the Taylor rule and hybrid rules in India over the period 1996-2011 using quarterly data, with a view to analytically informing the conduct of monetary policy. The results show that forward-looking formulations of bot...

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Bibliographic Details
Main Author:	Kapur, Muneesh
Other Authors:	Patra, Michael Debabrata, Patra, Michael
Format:	Book
Language:	English
Published:	Washington, D.C. : International Monetary Fund, 2012
Series:	IMF Working Papers ; Working Paper No. 12/118 IMF Working Papers; Working Paper ; No. 2012/118 IMF eLibrary
Subjects:	Aggregate demand Average inflation Business Fluctuations Central Banks and Their Policies Central bank Coefficient on inflation Cycles Deflation Discretionary monetary policy Economic instability Financial stability Gdp deflator High inflation Inflation data Inflation dynamics Inflation objective Inflation rate Inflation targeting regime Inflation targeting Inflation Inflationary consequences Inflationary pressures Intermediate monetary target Liquidity ratio Macroeconomic performance Macroeconomic stability Monetary Policy (Targets, Instruments, and Effects) Monetary aggregate Monetary aggregates Monetary authorities Monetary authority Monetary base Monetary conditions Monetary economics Monetary fund Monetary growth Monetary management Monetary operations Monetary policy framework Monetary policy instrument Monetary policy reaction function Monetary policy reaction functions Monetary policy regime Monetary policy regimes Monetary policy rule Monetary policy rules Monetary policy Monetary response Monetary stability Monetary target Monetary targeting Monetary transmission mechanism Monetary transmission Money demand Money growth Money market Money stock Money supply Open Economy Macroeconomics Open market operations Persistent high inflation Price Level Price inflation Price stability Rate of inflation Rational expectations Real interest rate Real interest rates Real output Real rate of interest Real variables Reserve requirements Stock of money Value of money Banking Banks and Banking Business Taxes and Subsidies Business cycles Central bank policy rate Computational Techniques Cyclical indicators Economic growth Economic theory Environmental Accounts Financial services Income Interest Rates: Determination, Term Structure, and Effects Interest rates Labor Economics: General Labor economics Labor Labour Macroeconomics Macroeconomics: Production Mathematical Methods Measurement and Data on National Income and Product Accounts and Wealth Methodological Issues: General Monetary Policy Monetary Policy, Central Banking, and the Supply of Money and Credit: General Money and Monetary Policy Money National accounts Output gap Personal Income, Wealth, and Their Distributions Personal income Prices Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) Production and Operations Management Production Public finance & taxation Spendings tax Taxation Taxes Value-added tax income economics India Botswana

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Alternative Monetary Policy Rules for India /

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