Subtleties in the Standoff

Öz

We reflect on the issues raised by the recent faceoff between the Reserve Bank of India (RBI) and the Indian government over the short-term interest rate. Our conclusion is that the policy space must be enlarged and the set of outcomes specified in order for meaningful dialogue to be conducted between the two entities.

Anahtar Kelimeler

• A Quantity Trap

Kaynakça

1. Bastian, E.F., Setterfield, M. (2017). Nominal exchange rate shocks and inflation in an open economy: towards a structuralist inflation targeting agenda, The New School for Social Research Working Paper 20/2017
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