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Monetary Policy

Jayati Ghosh
Tuesday 15 November, 2016
The November 8 announcement by the Prime Minister is an ill-conceived and even more poorly executed move that appears to be an attempt by the government to display a lot of sound and fury, but signifying very little.
Prabhat Patnaik
Thursday 10 November, 2016
The argument, that the demonetization of 500 and 1000 rupee notes constitutes an attack on “black money”, is based on an utter lack of understanding of the nature of “black money,” a conception of it that is staggering in its simple-mindedness.
C.P. Chandrasekhar
Tuesday 06 September, 2016
The interest rate that is seen as being the principal instrument for macroeconomic management is proving to be a blunt tool when combatting inflation or promoting growth.
C.P. Chandrasekhar, Jayati Ghosh
Friday 02 September, 2016
The return of inflation, even if moderate, at a time when India is experiencing a normal monsoon and after a long period of inflation-targeted monetary policy is surprising.
C.P. Chandrasekhar
Wednesday 03 August, 2016
Adventurous lending followed by wilful default that has become more common in recent years, is linked to the change in banking practices and the pursuit of quick profits after liberalization.
C.P. Chandrasekhar, Jayati Ghosh
Tuesday 02 August, 2016
After having retreated from retail lending in the years since 2005-06, banks burdened by NPAs in areas like infrastructure seem to be returning to the retail market. How far can this go?
C.P. Chandrasekhar, Jayati Ghosh
Tuesday 07 June, 2016
As interested observers focus on the bad loans, accumulating in the books of India’s commercial banks, the implications it has for lending behaviour and growth are less explored.
Prabhat Patnaik
Thursday 21 April, 2016
Even the unconventional measure of charging negative interest rates, as the author says, is unlikely to end the recession because capitalism today is in a deep structural crisis.
C.P. Chandrasekhar, Jayati Ghosh
Tuesday 15 March, 2016
With interest rates and bond yields turning negative in many developed countries, the efficacy of monetary policy as a countercyclical instrument is in question.
Julio Lopez Gallardo, Roberto Valencia Arriaga
Tuesday 03 November, 2015
The authors argue that the key variable to achieve inflation control is the exchange rate and not the interest rate, although the latter indirectly affects the price level and output.
 

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