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Inflation Expectations and Monetary Policy in India [electronic resource] : An Empirical Exploration, Patra, Michael Debabrata.

Author/Creator:
Patra, Michael Debabrata.
Publication:
Washington, D.C. : International Monetary Fund, 2010.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 10/84.
IMF Working Papers; Working Paper No. 10/84
Format/Description:
Government document
Book
1 online resource (26 p.)
Local subjects:
Actual inflation. (search)
Adaptive expectations. (search)
Aggregate demand. (search)
Central bank. (search)
Central bank policy. (search)
Changes in prices. (search)
Deflation. (search)
Economic models. (search)
Forecasting inflation. (search)
Foreign currency. (search)
Gdp deflator. (search)
Inflation. (search)
Inflation concerns. (search)
Inflation dynamics. (search)
Inflation forecasts. (search)
Inflation process. (search)
Inflation rate. (search)
Inflation rates. (search)
Inflation targeting. (search)
Inflation targeting framework. (search)
Inflationary consequences. (search)
Inflationary expectations. (search)
Inflationary pressures. (search)
Liquidity policy. (search)
Low inflation. (search)
Lower inflation. (search)
Measure of inflation. (search)
Monetary aggregates. (search)
Monetary authority. (search)
Monetary economics. (search)
Monetary fund. (search)
Monetary policy. (search)
Monetary Policy (Targets, Instruments, and Effects). (search)
Monetary policy operations. (search)
Monetary policy reaction function. (search)
Monetary policy regime. (search)
Monetary policy transparency. (search)
Money movements. (search)
Money supply. (search)
Neutrality of money. (search)
Open market sale. (search)
Price increases. (search)
Price inflation. (search)
Price Level. (search)
Rational expectations. (search)
Real interest rate. (search)
Real interest rates. (search)
Real money. (search)
Reserve requirements. (search)
Supply-side policy. (search)
India. (search)
Summary:
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.
Notes:
Description based on print version record.
Contributor:
Patra, Michael Debabrata.
Ray, Partha.
Other format:
Print Version:
ISBN:
145198264X:
9781451982640
ISSN:
1018-5941
Publisher Number:
10.5089/9781451982640.001
Access Restriction:
Restricted for use by site license.
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