A Monetary Policy Model Without Money for India /

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...

Полное описание

Библиографические подробности
Главный автор: Kapur, Muneesh
Другие авторы: Patra, Michael
Формат: Журнал
Язык:English
Опубликовано: Washington, D.C. : International Monetary Fund, 2010.
Серии:IMF Working Papers; Working Paper ; No. 2010/183
Online-ссылка:Full text available on IMF