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The curious case of Indian agriculture

Author

Listed:
  • Banik, Nilanjan
  • Biswas, Basudeb

Abstract

This paper examines association between the cyclical component of agricultural output and rainfall in India. When the cause of food inflation is because of supply shortage driven by inadequate rainfall and poor irrigation facilities, then a contractionary monetary policy may lead to stagflation. Considering agricultural output and rainfall data from four states in India we find evidence in favor of association.

Suggested Citation

  • Banik, Nilanjan & Biswas, Basudeb, 2012. "The curious case of Indian agriculture," MPRA Paper 38634, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:38634
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    File URL: https://mpra.ub.uni-muenchen.de/38634/1/MPRA_paper_38634.pdf
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    References listed on IDEAS

    as
    1. Stock, James H & Watson, Mark W, 1988. "Variable Trends in Economic Time Series," Journal of Economic Perspectives, American Economic Association, vol. 2(3), pages 147-174, Summer.
    2. Guay, A & St-Amant, P, 1996. "Do Mechanical Filters Provide a Good Approximation of Business Cycles?," Working Papers-Department of Finance Canada 1996-2, Department of Finance Canada.
    3. Nelson, Charles R. & Plosser, Charles I., 1982. "Trends and random walks in macroeconmic time series : Some evidence and implications," Journal of Monetary Economics, Elsevier, vol. 10(2), pages 139-162.
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    Cited by:

    1. Rajesh, Raj & Bharti, Nalin, 2016. "Monsoon Fluctuation And Consumption Expenditure In India," Journal of Central European Green Innovation, Károly Róbert University College, vol. 4(1).

    More about this item

    Keywords

    Agriculture output; Beveridge-Nelson Decomposition; Rainfall; India;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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