Monetary Policy in India: A Modern Macroeconomic Perspective

✍ Scribed by Chetan Ghate, Kenneth M. Kletzer (eds.)

• Publisher: Springer India
• Year: 2016
• Tongue: English
• Leaves: 653
• Edition: 1
• Category: Library

✦ Synopsis

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.

✦ Table of Contents

Front Matter....Pages i-xiii
Front Matter....Pages 1-1
Introduction....Pages 3-27
Front Matter....Pages 29-29
Challenges of Effective Monetary Policy in Emerging Economies....Pages 31-58
Monetary Transmission in Developing Countries: Evidence from India....Pages 59-110
Financial Intermediation and Monetary Policy Transmission in EMEs: What has Changed Since the 2008 Crisis?....Pages 111-150
Monetary Policy Transmission in the Presence of Product and Labor Market Frictions: The Case of India....Pages 151-169
Front Matter....Pages 171-171
Financial Markets and Investment Finance in India: Implications for Monetary Transmission....Pages 173-193
State Intervention in Banking: The Relative Health of Indian Public Sector and Private Sector Banks....Pages 195-230
The Term Structure of Interest Rates in India....Pages 231-256
Liquidity Management and Monetary Policy: From Corridor Play to Marksmanship....Pages 257-296
Front Matter....Pages 297-297
Capital Flows and Capital Controls in India: Confronting the Challenges....Pages 299-333
Measuring Trend Inflation and Inflation Persistence for India....Pages 335-356
Exchange Rate Trends and Management in India....Pages 357-384
Capital Flows and Central Banking: The Indian Experience....Pages 385-424
What is Responsible for India’s Sharp Disinflation?....Pages 425-452
Front Matter....Pages 453-453
An Estimated DSGE Open Economy Model of the Indian Economy with Financial Frictions....Pages 455-506
Finance and Credit in a Model of Monetary Policy....Pages 507-547
Indian Economy During the Era of Quantitative Easing: A Dynamic Stochastic General Equilibrium Perspective....Pages 549-580
Front Matter....Pages 581-581
The Past and Future of Inflation Targeting: Implications for Emerging-Market and Developing Economies....Pages 583-622
International Policy Coordination and Emerging-Market Economies....Pages 623-642
Back Matter....Pages 643-652

✦ Subjects

Macroeconomics/Monetary Economics//Financial Economics;Economic Policy