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.
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- Pierpaolo Benigno & Michael Woodford, 2005.
"Inflation Stabilization And Welfare: The Case Of A Distorted Steady State,"
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NBER Working Papers
12605, National Bureau of Economic Research, Inc.
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NBER Working Papers
16563, National Bureau of Economic Research, Inc.
- Stefano Eusepi & Bart Hobijn & Andrea Tambalotti, 2009.
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Working Paper Series
2009-03, Federal Reserve Bank of San Francisco.
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