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Monetary Policy In India
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Book Synopsis Monetary Policy in India by : Chetan Ghate
Download or read book Monetary Policy in India written by Chetan Ghate and published by Springer. This book was released on 2016-11-25 with total page 652 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents research that applies contemporary monetary theory and state-of-the-art econometric methods to the analysis of the monetary and financial aspects of the Indian economy and the impact of monetary policy on economic performance. Indian monetary policy has attracted significant attention from Indian and international macroeconomists over the last several years. Interest in how monetary policy influences economic performance and how monetary policy is conducted in India is growing. The prospects for further financial sector reform and ongoing inflation in India have sparked new interest in the role of money and monetary policy in India among economists, policy makers and students alike. The book should also interest economists outside India because it studies monetary economics in a major emerging market economy and makes advances in the analysis of how financial market imperfections and structural constraints influence the effects of monetary policy.
Book Synopsis History of Monetary Policy in India Since Independence by : Ashima Goyal
Download or read book History of Monetary Policy in India Since Independence written by Ashima Goyal and published by Springer. This book was released on 2014-07-16 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book discusses Indian post-independence monetary history in the context of the country’s development and the global changes of the period. The conceptual framework used is the SIIO (Structure, Ideas, Institutions and Outcomes) paradigm. That is, structure and ideas become embedded in institutions and affect outcomes. Narrative history, data analysis and research reports demonstrate the dialectic between ideas and structure with respect to monetary history, aspects of India’s development, and the global institutions and events that impacted monetary choices. The history of the economy and of the global changes that affected it covers a time when major changes took place both in India and internationally. India’s greater openness is important both for it and for the world, but it occurred at a time of major global crises. How did these impact monetary choices and how did the latter help India navigate the crises while maintaining its trajectory towards greater liberalization? The book explores these and other relevant but under-analyzed questions. The initial combination of ideas and structure created fiscal dominance and made monetary policy procyclical. An aggregate supply-and-demand framework derived from forward-looking optimization subject to Indian structural constraints is able to explain growth and inflation outcomes in the light of policy actions. Using exogenous supply shocks to identify policy shocks and to isolate their effects, demonstrate that policy was sometimes exceedingly strict despite the common perception of a large monetary overhang. Surges and sudden stops in capital flow also constrained policy. But the three factors that cause a loss of monetary autonomy—governments, markets and openness—moderate each other. Markets moderate fiscal profligacy and global crises moderate market freedoms and ensure openness remains a sequenced and gradual process. The book argues greater current congruence between ideas and structure is improving institutions and contributing to India’s potential.
Book Synopsis Monetary Policy and Inflation in India by : Chand Sunil Nagpal
Download or read book Monetary Policy and Inflation in India written by Chand Sunil Nagpal and published by . This book was released on 1982 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Policy, Financial Stability, and Central Banking in India by : Narendra Jadhav
Download or read book Monetary Policy, Financial Stability, and Central Banking in India written by Narendra Jadhav and published by Macmillan. This book was released on 2006 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book covers an extensive canvas of macroeconomic thinking, monetary matters and the changing face of central banking the world over, with special reference to India. Interestingly, it also deals with fundamentals of finance in some detail which is cru
Book Synopsis Managing the Macroeconomy by : Ramkishen S. Rajan
Download or read book Managing the Macroeconomy written by Ramkishen S. Rajan and published by Palgrave Macmillan. This book was released on 2014-01-14 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: While offering many growth-enhancing opportunities, India's ever-increasing integration with the world economy has given rise to a host of new challenges in managing the economy. This book provides an up-to-date empirical assessment of some of India's crucial policy challenges pertaining to its monetary and external sector management.
Book Synopsis Monetary Policy in India by : Mr. Sonali Das
Download or read book Monetary Policy in India written by Mr. Sonali Das and published by International Monetary Fund. This book was released on 2015-06-23 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides new evidence on the credit channel of monetary policy transmission in India. Using stepwise estimation of vector error correction models, the analysis finds significant, albeit slow, pass-through of policy rate changes to bank interest rates in India. There is evidence of asymmetric adjustment to monetary policy: the lending rate adjusts more quickly to monetary tightening than to loosening. In addition, the speed of adjustment of deposit and lending rates to changes in the policy rate has increased in recent years.
Book Synopsis Advanced Study in Money and Banking by : Perminder Khanna
Download or read book Advanced Study in Money and Banking written by Perminder Khanna and published by Atlantic Publishers & Dist. This book was released on 2005 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Book Advanced Study In Money & Banking : Theory & Policy Relevance In The Indian Economy Is A Complete Treatise On Banking And Global Financial Developments With Special Reference To Dmcs And The Indian Economy. It Provides An Invaluable, Up-To-Date And Refreshing Approach To Key Development Issues Pertaining To Monetary Theory, Banking, And Policy Matters. The Theoretical, Institutional And Historical Approaches Have Been Skilfully Integrated To Explore And Elucidate The Interrelationships Of Money And Banking And The Functioning Of The Economy As A Whole. The Analytical Study Of The Main Operational Ratios Of Banks For The Period 1998 To 2003 Gives An Overview Of The Bank Street Scenario. In Its Wide Perspective, The Book Includes A Comprehensive Study Of Banking And Information Technology, Mechanism Of International Payments, And International Monetary Policies And Monetary Cooperation. Above All, Against The Backdrop Of Economic Uncertainty And The Low Ebb In Economic Activity, Volatility In Stock Markets And Significant Fluctuations In Major Currencies Of The World, The Indian Monetary Policy During The Period Of 1952-2003 Has Been Extensively Discussed. Simple Graphs And Up-To-Date Economic Models Provided In The Book Enable The Readers To Have An Easy And Accurate Understanding Of The Subject.The Book Would Be Of Great Interest And Use For Students And Teachers Of Economics, Commerce And Business Management. The Bankers And Legislators Concerned With Monetary And Banking Policies Would Find The Book Highly Useful.
Book Synopsis The Impacts of Monetary Policy in the 21st Century by : Ramesh Chandra Das
Download or read book The Impacts of Monetary Policy in the 21st Century written by Ramesh Chandra Das and published by Emerald Publishing Limited. This book was released on 2019-09-02 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Impacts of Monetary Policy in the 21st Century illustrates the effect of financial policies upon global economic indicators, with special reference made to issues effecting East Asian nations generally and with a particular focus on Indian economic development since 2000.
Book Synopsis Reviving Growth in India by : Pradeep Agrawal
Download or read book Reviving Growth in India written by Pradeep Agrawal and published by Cambridge University Press. This book was released on 2015-03-26 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides the latest research findings on the ways to revive and sustain higher growth rates in India.
Book Synopsis Monetary Policy in India by : Mr.Sonali Das
Download or read book Monetary Policy in India written by Mr.Sonali Das and published by International Monetary Fund. This book was released on 2015-06-23 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides new evidence on the credit channel of monetary policy transmission in India. Using stepwise estimation of vector error correction models, the analysis finds significant, albeit slow, pass-through of policy rate changes to bank interest rates in India. There is evidence of asymmetric adjustment to monetary policy: the lending rate adjusts more quickly to monetary tightening than to loosening. In addition, the speed of adjustment of deposit and lending rates to changes in the policy rate has increased in recent years.
Book Synopsis Alternative Monetary Policy Rules for India by : Michael Debabrata Patra
Download or read book Alternative Monetary Policy Rules for India written by Michael Debabrata Patra and published by International Monetary Fund. This book was released on 2012-05-01 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 both rules and their hybrid version - setting a nominal output growth objective for monetary policy with an interest rate instrument - outperform contemporaneous and backward-looking specifications, especially when targeting core components of GDP and inflation, and combine the best parts of efficiency and discretion.
Book Synopsis Managing the Macroeconomy by : Ramkishen S. Rajan
Download or read book Managing the Macroeconomy written by Ramkishen S. Rajan and published by Springer. This book was released on 2015-08-04 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: While offering many growth-enhancing opportunities, India's ever-increasing integration with the world economy has given rise to a host of new challenges in managing the economy. This book provides an up-to-date empirical assessment of some of India's crucial policy challenges pertaining to its monetary and external sector management.
Book Synopsis Bank Leverage and Monetary Policy's Risk-Taking Channel by : Mr.Giovanni Dell'Ariccia
Download or read book Bank Leverage and Monetary Policy's Risk-Taking Channel written by Mr.Giovanni Dell'Ariccia and published by International Monetary Fund. This book was released on 2013-06-06 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on the internal ratings of U.S. banks on loans to businesses over the period 1997 to 2011 from the Federal Reserve’s survey of terms of business lending. We find that ex-ante risk taking by banks (as measured by the risk rating of the bank’s loan portfolio) is negatively associated with increases in short-term policy interest rates. This relationship is less pronounced for banks with relatively low capital or during periods when banks’ capital erodes, such as episodes of financial and economic distress. These results contribute to the ongoing debate on the role of monetary policy in financial stability and suggest that monetary policy has a bearing on the riskiness of banks and financial stability more generally.
Book Synopsis A Monetary Policy Model Without Money for India by : Michael Debabrata Patra
Download or read book A Monetary Policy Model Without Money for India written by Michael Debabrata Patra and published by International Monetary Fund. This book was released on 2010-08-01 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 pass-through to domestic inflation is low. Inflation turns out to be the dominant focus of monetary policy, accompanied by a strong commitment to the stabilization of output. Recent policy actions have raised the effective policy rate, but the estimated neutral policy rate suggests some further tightening to normalize the policy stance.
Book Synopsis Monetary Policy and Central Banking in India by : V. R. Mutalik Desai
Download or read book Monetary Policy and Central Banking in India written by V. R. Mutalik Desai and published by . This book was released on 1969 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inflation Expectations and Monetary Policy in India by : Michael Debabrata Patra
Download or read book Inflation Expectations and Monetary Policy in India written by Michael Debabrata Patra and published by International Monetary Fund. This book was released on 2010-04-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper pursues a computationally intensive approach to generate future inflation, followed by an exploration of the determinants of inflation expectations by estimating a new Keynesian type Phillips curve that takes into account country-specific characteristics, the stance of monetary and fiscal policies, marginal costs and exogenous supply shocks. The empirical results indicate that high and climbing inflation could easily seep into people’s anticipation of future inflation and linger. There is a reputational bonus for monetary policy to act against inflation now rather than going for cold turkey when societal compulsions reach a critical mass.
Book Synopsis A Hundred Small Steps by : India. Committee on Financial Sector Reforms
Download or read book A Hundred Small Steps written by India. Committee on Financial Sector Reforms and published by SAGE Publications. This book was released on 2009-01-06 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: While previous reports have focused solely on the ‘big’ issues like capital account convertibility, bank privatization, and priority sector norms, A Hundred Small Steps: Report of the Committee on Financial Sector Reforms goes deep into other areas where reforms are less controversial, but perhaps as important. The report argues that we need a change in mindset for the financial sector, one that recognizes that efficiency, innovation, and value for money are as important for the poor as they are for our new Indian multinationals, and these will come from improved governance, new entry and competition. Indeed the Committee believes that the road to making Mumbai an international financial centre runs through every village in India. The report is divided into separate self-contained chapters; the underlying theme behind all the proposals is the need to enhance inclusion, growth, and stability by allowing players more freedom, even while strengthening the financial and regulatory infrastructure. The role of the government is to create an enabling environment by building sound financial infrastructure. The Committee has focused primarily on broad principles and directions, without entering too much into details of implementation. It emphasizes three important reasons for financial sector reform: to include more Indians in the growth process; to foster growth itself; and to improve financial stability, flexibility, and resilience and thus protect the economy against the kind of turbulence that is affecting the world today. The Committee recognizes this is a difficult time to propose financial sector reforms in India. The near meltdown of the US financial sector seems to be proof that markets and competition do not work. This is clearly the wrong lesson to take from the debacle. The right lesson is that markets and institutions do succumb occasionally to excesses, which is why regulators have to be vigilant. The report argues for skilled regulators who encourage growth and innovation even while working harder to contain risks.
