A MONETARY BUSINESS CYCLE MODEL FOR INDIA.
A New Keynesian monetary business cycle model is constructed to study why monetary transmission in India is weak. Our models feature banking and financial sector frictions as well as an informal sector. The predominant channel of monetary transmission is a credit channel. Our main finding is that ba...
| Publicado en: | Economic Inquiry Vol. 58; no. 3; pp. 1362 - 1387 |
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| Autores principales: | , , |
| Formato: | Artículo |
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Wiley-Blackwell
Jul2020
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=143422812&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 143422812 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: Y pubinfo: dt: Jul2020 vid: 58 iid: 3 pid: 480 pub: Wiley-Blackwell artinfo: ui: 143422812 10.1111/ecin.12855 ppf: 1362 ppct: 25 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 681KB tig: atl: A MONETARY BUSINESS CYCLE MODEL FOR INDIA. aug: au: Banerjee, Shesadri Basu, Parantap Ghate, Chetan affil: Madras Institute of Development Studies, Chennai, India Durham University Business School, Durham University, Mill Hill Lane, Durham DH1 3LB,, UK Economics and Planning Unit, Indian Statistical Institute, New Delhi, India su: Keynesian economics Business cycles Business models Liquidity (Economics) Interest rates sug: subj: Keynesian economics Business cycles Financial Transactions Processing, Reserve, and Clearinghouse Activities Central credit unions Business models Liquidity (Economics) Interest rates ab: A New Keynesian monetary business cycle model is constructed to study why monetary transmission in India is weak. Our models feature banking and financial sector frictions as well as an informal sector. The predominant channel of monetary transmission is a credit channel. Our main finding is that base money shocks have a larger and more persistent effect on output than an interest rate shock, as in the data. The presence of an informal sector hinders monetary transmission. Contrary to the consensus view, financial repression in the form of a statutory liquidity ratio and administered interest rates, does not weaken monetary transmission. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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