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...
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| Format: | Revija |
| Jezik: | English |
| Izdano: |
Washington, D.C. :
International Monetary Fund,
2010.
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| Serija: | IMF Working Papers; Working Paper ;
No. 2010/183 |
| Online dostop: | Full text available on IMF |