How to measure inflation in India?
What is the best inflation measure in India? What inflation measure is most relevant for monetary policy making in India? Questions of timeliness, weights in the price index, accuracy of food price measurement, and inclusion of services prices are relevant to the choice of measure. We show that under present conditions of measurement, the Consumer Price Index for Industrial Workers (CPI-IW) is preferable to either the Wholesale Price Index or the GDP deflator.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Luis Catão & Roberto Chang, 2010.
"World Food Prices and Monetary Policy,"
NBER Working Papers
16563, National Bureau of Economic Research, Inc.
- Mankiw, N. Gregory & Reis, Ricardo, 2007.
"Sticky Information in General Equilibrium,"
3415323, Harvard University Department of Economics.
- Stefano Eusepi & Bart Hobijn & Andrea Tambalotti, 2009.
"CONDI: a cost-of-nominal-distortions index,"
Working Paper Series
2009-03, Federal Reserve Bank of San Francisco.
- Emi Nakamura & Jón Steinsson, 2008. "Five Facts about Prices: A Reevaluation of Menu Cost Models," The Quarterly Journal of Economics, Oxford University Press, vol. 123(4), pages 1415-1464.
- Michael Woodford & Pierpaolo Benigno, 2004.
"Inflation Stabilization and Welfare: The Case of a Distorted Steady State,"
2004 Meeting Papers
481, Society for Economic Dynamics.
- Pierpaolo Benigno & Michael Woodford, 2005. "Inflation Stabilization And Welfare: The Case Of A Distorted Steady State," Journal of the European Economic Association, MIT Press, vol. 3(6), pages 1185-1236, December.
- Pierpaolo Benigno & Michael Woodford, 2004. "Inflation Stabilization and Welfare: The Case of a Distorted Steady State," NBER Working Papers 10838, National Bureau of Economic Research, Inc.
- Nadhanael G V & Sitikantha Pattanaik, 2010. "Measurement of Inflation in India: Issues and Associated Challenges for the Conduct of Monetary Policy," Working Papers id:2822, eSocialSciences.
When requesting a correction, please mention this item's handle: RePEc:npf:wpaper:11/83. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (S.Siva Chidambaram)
If references are entirely missing, you can add them using this form.