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An Empirical Analysis of the Monetary Policy Reaction Function in India
https://doi.org/10.20561/00037963
https://doi.org/10.20561/000379634ebacf30-f156-4f8f-889c-415bb8f4b44a
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
本文 (61.8 kB)
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| Item type | アジ研テクニカルレポート / IDE Technical Report(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2009-07-08 | |||||
| タイトル | ||||||
| タイトル | An Empirical Analysis of the Monetary Policy Reaction Function in India | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_18gh | |||||
| 資源タイプ | technical report | |||||
| ID登録 | ||||||
| ID登録 | 10.20561/00037963 | |||||
| ID登録タイプ | JaLC | |||||
| 著者 |
Inoue, Takeshi
× Inoue, Takeshi× Hamori, Shigeyuki |
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| 著者別名 | ||||||
| 井上, 武 | ||||||
| 著者別名 | ||||||
| 羽森, 茂之 | ||||||
| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | This paper empirically analyzes India’s monetary policy reaction function by applying the Taylor (1993) rule and its open-economy version which employs dynamic OLS. The analysis uses monthly data from the period of April 1998 to December 2007. When the simple Taylor rule was estimated for India, the output gap coefficient was statistically significant, and its sign condition was found to be consistent with theoretical rationale; however, the same was not true of the inflation coefficient. When the Taylor rule with exchange rate was estimated, the coefficients of output gap and exchange rate had statistical significance with the expected signs, whereas the results of inflation remained the same as before. Therefore, the inflation rate has not played a role in the conduct of India’s monetary policy, and it is inappropriate for India to adopt an inflation-target type policy framework. |
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| 権利 | ||||||
| 権利情報 | Copyrights 日本貿易振興機構（ジェトロ）アジア経済研究所 / Institute of Developing Economies, Japan External Trade Organization (IDE-JETRO) http://www.ide.go.jp | |||||
| 収録情報 |
IDE Discussion Paper en : IDE Discussion Paper 巻 200, 発行日 2009-04-01 |
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| 出版者 | ||||||
| 出版者 | Institute of Developing Economies (IDE-JETRO) | |||||
| 著者版フラグ | ||||||
| 出版タイプ | VoR | |||||
| 出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||
| 日本十進分類法 | ||||||
| 主題Scheme | NDC | |||||
| 主題 | 338.3 | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:E52 - Monetary Policy | |||||
| 地域/国名 | ||||||
| 位置情報（自由記述） | インド | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | DOLS | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | India | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Monetary policy | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Reaction function | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Taylor rule | |||||
| フォーマット | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | application/pdf | |||||
| DIG_NO | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | IDP000200_001 | |||||
