Operationalising Taylor-rules for the Indian economy : issues and some results (1922Q3-2001Q4)

dc.contributor.author	Virmani, Vineet
dc.date.accessioned	2009-12-12T11:13:36Z
dc.date.available	2009-12-12T11:13:36Z
dc.date.copyright	2004-07
dc.date.issued	2009-12-12T11:13:36Z
dc.identifier.uri	http://hdl.handle.net/11718/610
dc.description.abstract	This study is an attempt to formulate a monetary policy reaction function for India. In particular I model background and forward looking Taylor and McCallum rules for the period post BoP crists. It is found that background-looking McCallum rule tracks the evolution of monetary base over the sample period reasonably well, suggesting that RBI acts as if it is targeting nominal income when conducting monetary policy. Recent declaration by the RBI that reserve money is its operating target lends support to the findings of the study.	en
dc.language.iso	en	en
dc.relation.ispartofseries	WP;1832
dc.subject	Economic policy - India	en
dc.subject	Monetary policy - India	en
dc.title	Operationalising Taylor-rules for the Indian economy : issues and some results (1922Q3-2001Q4)	en
dc.type	Working Paper	en