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Monetary Policy Considerations after the Crisis: Practitioners’ Perspectives

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  • Subir Gokarn

Abstract

In this article, I would like to explore some of the thinking around issues in inclusive growth and development in the face of recent economic and financial crisis. We use recent articulations by a cross-section of central bankers and use this as a backdrop for the way the Reserve Bank of India and the Government of India deal with challenges to macroeconomic stability. The article lays out a simple framework, which I find useful to think about monetary policy and central banking and then use it to discuss issues that have emerged in the post-crisis debates.

Suggested Citation

  • Subir Gokarn, 2012. "Monetary Policy Considerations after the Crisis: Practitioners’ Perspectives," South Asian Journal of Macroeconomics and Public Finance, , vol. 1(1), pages 1-13, June.
    • Handle: RePEc:sae:smppub:v:1:y:2012:i:1:p:1-13
    DOI: 10.1177/227797871200100102
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    References listed on IDEAS

    as
    1. Jonathan David Ostry & Atish R. Ghosh & Karl F Habermeier & Marcos d Chamon & Mahvash S Qureshi & Dennis B. S. Reinhardt, 2010. "Capital Inflows; The Role of Controls," IMF Staff Position Notes 2010/04, International Monetary Fund.
    2. Charles Bean, 2010. "Joseph Schumpeter Lecture The Great Moderation, The Great Panic, and The Great Contraction," Journal of the European Economic Association, MIT Press, vol. 8(2-3), pages 289-325, 04-05.
    3. Mr. Jonathan David Ostry & Mr. Atish R. Ghosh & Mr. Karl F Habermeier & Mr. Marcos d Chamon & Mahvash S Qureshi & Dennis B. S. Reinhardt, 2010. "Capital Inflows: The Role of Controls," IMF Staff Position Notes 2010/004, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Monetary policy; central bank; economic crisis; stability; E50; E52; E62; E63;
    All these keywords.

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - 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; Modern Monetary Theory
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy

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