Tag Search: “monetary policy”

Banks, finance and the 2022 Economics Nobel Prize

This year the Nobel Prize in Economics was awarded to Ben Bernanke, Douglas Diamond and Philip Dybvig for their work on the role of banks in the economy, particularly during financial crises. In this ...

  • Perspectives

The low productivity trap of collateralised lending for MSMEs

The share of bank credit extended to MSMEs increased dramatically during the pan-demic. In this post, Harsh Vardhan discusses the the government guarantee of bank loans as a possible driver of this gr...

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Not exactly bad news: Fed tightening cycle’s implications for emerging markets

The conventional perception, that US Federal Reserve rate hikes necessarily imply capital outflows from emerging markets, is an incomplete assessment. This article disaggregates Fed hikes’ effects on ...

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An illusory Phillips curve: Is now the right time for a rate hike?

The Phillips curve represents an inverse relationship between inflation and unemployment. In this post, Parantap Basu argues that the ‘illusory’ Phillips curve in western industrial nations is driven ...

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International financial architecture and emerging economies

Policy responses to Covid-19 have been a mix of fiscal and monetary policy – with the latter doing the heavy-lifting in both developed and developing countries. Against this backdrop, in this edition ...

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International financial architecture and emerging economies

Policy responses to Covid-19 have been a mix of fiscal and monetary policy – with the latter doing the heavy-lifting in both developed and developing countries. Against this backdrop, in this edition ...

  • Podcasts

How do RBI’s actions (and words) affect financial markets?

Financial markets in developed countries are known to react substantially to monetary shocks, that is, surprise changes in policy rates announced by the central bank. Based on a narrative analysis of ...

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Budget 2022-23 and outlook for the Indian economy

Several commentators have lauded the recently presented Budget 2022-23 as a ‘growth budget’, on account of the large allocations made for capital expenditure on public infrastructure. On the other han...

  • Podcasts

Budget 2022-23 and outlook for the Indian economy

Several commentators have lauded the recently presented Budget 2022-23 as a ‘growth budget’, on account of the large allocations made for capital expenditure on public infrastructure. On the other han...

  • Videos

Mind the tone: Text analysis of Monetary Policy Committee statements

Government of India appoints three external members on the six-member Monetary Policy Committee, and the statements of all MPC members are released after every committee meeting. Based on data from 30...

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Understanding ‘consumer price index’ and consumption baskets

The Consumer Price Index (CPI) is used as an indicator in various policymaking contexts, and has gained greater significance since the adoption of the inflation targeting framework in India. In this p...

  • Perspectives

Understanding the dynamics of the rupee-dollar exchange rate

Since 1993, the Indian rupee (INR) has officially been following a market-determined exchange rate – price is determined by demand for and supply of foreign exchange – with intervention by the Reserve...

  • Perspectives