Tag Search: “monetary policy”
India's unique crisis
While the current turbulence in the Indian economy bears a resemblance to the situation of other emerging economies, it is unique when compared with historical experiences of economic crises. In the ...
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Devesh Kapur
Arvind Subramanian
16 December, 2013
- Perspectives
The Reserve Bank's mission impossible?
India’s current inflation is unprecedentedly high – not in absolute terms but relative to the rest of the world. This article discusses the role of inflation in the recent currency crisis, and argues...
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Arvind Subramanian
29 November, 2013
- Perspectives
What is mitigating a financial crisis in India?
The recent turmoil in the currency market and the general slowdown in growth in India are disturbing. However, India has by and large performed better in terms of macro-financial stability as compared...
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Gurbachan Singh
08 November, 2013
- Articles
What saved the rupee?
This article analyses the dramatic fall of the rupee between May and August this year, and its recovery thereafter. It asserts that it was primarily external factors and an unconventional interventio...
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Arvind Subramanian
06 November, 2013
- Perspectives
Exchange rate movements and Indian firms' exports
Understanding the effects of exchange-rate changes on a country’s trade balance calls for an analysis of how exchange-rate fluctuations affect the decisions of individual firms. This column explores ...
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Yin Cheung
Rajeswari Sengupta
01 November, 2013
- Articles
Foreign investors under stress: Evidence from India
Emerging market policymakers are concerned about the effects of foreign portfolio flows on financial stability. This column focuses on the behaviour of investors in extreme events, allowing for the po...
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Ila Patnaik
Ajay Shah
Nirvikar Singh
19 July, 2013
- Articles
A right time for inflation-indexed bonds?
While the introduction of inflation-indexed bonds in India has been hailed by many as a step in the right direction, this column argues that their success will depend on how serious the government is ...
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Viral Acharya
Gangadhar Darbha
07 June, 2013
- Perspectives
The market for inflation-indexed bonds
On 15 May 2013, the Reserve Bank of India announced that it would begin monthly issues of inflation-indexed bonds starting June 2013. These bonds, wherein in the principal amount adjusts according to ...
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Gurbachan Singh
31 May, 2013
- Articles
The challenges of opening up India's capital account
A key objective for any open economy is to avoid a financial or balance of payments crisis – a goal that often calls for trade-offs between liberalisation and maintaining control of the economy. This...
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Abhijit Sen Gupta
Rajeswari Sengupta
15 May, 2013
- Articles
Long term recovery of the Indian economy depends on reforms
The Indian economy has been facing challenges in the form of sluggish growth, high inflation, and rising fiscal and current account deficits. This column highlights trends in the economic conditions,...
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Sarah Chan
24 April, 2013
- Articles
Exchange-rate pass-through by Indian and Chinese exporters
The pricing behaviour of exporters in emerging markets confirms that the already well-reported decline in exchange rate sensitivity of import prices is due to export prices becoming more sensitive to ...
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Sushanta Mallick
Helena Marques
15 April, 2013
- Articles
Why India should not further delay a credit line from the IMF
India is expected to run a current account deficit of more than 4% of its GDP this year. At the moment this can be paid for with money coming in from abroad – but what if the flow of money were to su...
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Gurbachan Singh
03 April, 2013
- Articles