Monetary Policy in India

A Modern Macroeconomic Perspective

Editors: Ghate, Chetan, Kletzer, Kenneth M. (Eds.)

  • Undertakes a rigorous evaluation of Indian monetary policy using modern macroeconomic research
  • Offers insights into monetary economics in a major emerging market economy and shows how financial market imperfections influence the effects of monetary policy
  • Includes articles by leading academics and practitioners working in the field of monetary theory and policy 
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eBook 202,29 €
price for India (gross)
  • ISBN 978-81-322-2840-0
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 249,99 €
price for India (gross)
  • ISBN 978-81-322-2838-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover 249,99 €
price for India (gross)
  • ISBN 978-81-322-3854-6
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

This book presents research that applies contemporary monetary theory and state-of-the-art econometric methods to the analysis of the monetary and financial aspects of the Indian economy and the impact of monetary policy on economic performance. Indian monetary policy has attracted significant attention from Indian and international macroeconomists over the last several years. Interest in how monetary policy influences economic performance and how monetary policy is conducted in India is growing. The prospects for further financial sector reform and ongoing inflation in India have sparked new interest in the role of money and monetary policy in India among economists, policy makers and students alike.  The book should also interest economists outside India because it studies monetary economics in a major emerging market economy and makes advances in the analysis of how financial market imperfections and structural constraints influence the effects of monetary policy.

About the authors

Chetan Ghate is Professor at the Economics and Planning Unit, Indian Statistical Institute, Delhi.  His primary areas of research are economic growth and development, monetary and fiscal policy in EMEs, and the Indian macroeconomy. He is a winner of the 2014 Mahalanobis Memorial Gold Medal awarded by the Indian Econometric Society (TIES). He was a member of the Technical Advisory Committee on Monetary Policy at the Reserve Bank of India from February 2013 to September 2016. He was also a member of the expert committee to revise and strengthen the monetary policy framework set up by the Reserve Bank of India in September 2013. He is currently a member of the monetary policy committee at the Reserve Bank of India.

Kenneth Kletzer is Professor of Economics at the University of California, Santa Cruz. His primary areas of research are international economics and macroeconomics, and many of his publications concern financial frictions in open economies, sovereign debt, and macroeconomic policy coordination. Kletzer has written on capital account liberalization and monetary policy for India, and is a member of the research panel for the India Policy Forum of the National Council for Applied Economics Research and Brookings Institution.

Reviews

“By framing the issues related to monetary policy of India in a class of microfounded models, the book brings the analysis closer to contemporary macroeconomic thinking. … the volume successfully manages to present a detailed analysis of issues concerning monetary policy design in an emerging market economy like India based on contemporary macroeconomic theory. It certainly should become an essential reader for everyone interested in the macroeconomic policy of India: students, teachers, and policymakers alike.” (Parag Waknis, Economic and Political Weekly, Vol. 53 (28), July, 2018)

“The book should be required reading for those observing India’s macroeconomy, as well as an essential possession of those who are involved in making policy for/ dependent upon India’s macroeconomy. The essays do not get lost in history, but thoroughly ground current Indian macroeconomic developments in up-to-date economic theory; they identify where the theory may be inapplicable to Indian conditions, and in some cases effectively demonstrate how that problem can be overcome.” (Mihir Sharma, Business Standards, January, 2018)

“The book deals with various aspects of monetary policy in India viz. its formulation, implementation, regulation, transmission and challenges. It makes for an interesting read, especially for practitioners, economists, policy makers and students of monetary policy. The issues covered in the book are relevant for other developing and emerging market economies.” (B. L. Pandit, Indian Economic Review, December, 2017)

“The volume edited by Ghate and Kletzer is perhaps the first attempt … to bring together a richer set of New Keynesian analyses of the Indian economy. It should thus be read by policymakers, monetary policy analysts, academics and economics students. … The volume edited by Ghate and Kletzer is important, and needs to be read, because of its insights into how the RBI can give more empirical and theoretical heft to its policies in this new era.” (Niranjan Rajadhyaksha, Livemint, livemint.com, May, 2017)


Table of contents (19 chapters)

  • Introduction

    Ghate, Chetan (et al.)

    Pages 3-27

    Preview Buy Chapter 24,95 €
  • Challenges of Effective Monetary Policy in Emerging Economies

    Lahiri, Amartya (et al.)

    Pages 31-58

    Preview Buy Chapter 24,95 €
  • Monetary Transmission in Developing Countries: Evidence from India

    Mishra, Prachi (et al.)

    Pages 59-110

    Preview Buy Chapter 24,95 €
  • Financial Intermediation and Monetary Policy Transmission in EMEs: What has Changed Since the 2008 Crisis?

    Mohanty, M. S. (et al.)

    Pages 111-150

    Preview Buy Chapter 24,95 €
  • Monetary Policy Transmission in the Presence of Product and Labor Market Frictions: The Case of India

    Anand, Rahul (et al.)

    Pages 151-169

    Preview Buy Chapter 24,95 €

Buy this book

eBook 202,29 €
price for India (gross)
  • ISBN 978-81-322-2840-0
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 249,99 €
price for India (gross)
  • ISBN 978-81-322-2838-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover 249,99 €
price for India (gross)
  • ISBN 978-81-322-3854-6
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Monetary Policy in India
Book Subtitle
A Modern Macroeconomic Perspective
Editors
  • Chetan Ghate
  • Kenneth M. Kletzer
Copyright
2016
Publisher
Springer India
Copyright Holder
Springer India
eBook ISBN
978-81-322-2840-0
DOI
10.1007/978-81-322-2840-0
Hardcover ISBN
978-81-322-2838-7
Softcover ISBN
978-81-322-3854-6
Edition Number
1
Number of Pages
XIII, 652
Number of Illustrations and Tables
184 b/w illustrations
Topics