India's fiscal and monetary framework: growth in an opening economy
AbstractSince a crisis is a shock impinging on a system, the response can be used to deduce aspects of the system's structure. Analysis of the crisis and recovery suggests aggregate supply in India is elastic but subject to upward shocks. This has implications for the exit and for fiscal consolidation. Both monetary and fiscal policy should identify measures that would reduce costs, while preventing too large a demand contraction. Specific policies are identified and Indian policies evaluated.
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Bibliographic InfoPaper provided by Indira Gandhi Institute of Development Research, Mumbai, India in its series Indira Gandhi Institute of Development Research, Mumbai Working Papers with number 2010-025.
Length: 22 pages
Date of creation: Dec 2010
Date of revision:
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Crisis; fiscal and monetary policy; exit; aggregate supply elasticity;
Other versions of this item:
- Ashima Goyal, 2012. "India's fiscal and monetary framework: growth in an opening economy," Macroeconomics and Finance in Emerging Market Economies, Taylor and Francis Journals, vol. 5(1), pages 108-123, July.
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-19 (All new papers)
- NEP-CIS-2011-02-19 (Confederation of Independent States)
- NEP-MAC-2011-02-19 (Macroeconomics)
- NEP-MON-2011-02-19 (Monetary Economics)
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