{"title":"What lowered inflation in India: monetary policy or commodity prices?","authors":"Pulapre Balakrishnan, M Parameswaran","doi":"10.1007/s41775-022-00134-z","DOIUrl":null,"url":null,"abstract":"<p><p>India has seen lower inflation by historical standards for the past 6 years. This has been attributed to the adoption of inflation targeting by the central bank, the Reserve Bank of India in 2016. In particular, it has been asserted that the lower inflation reflects the anchoring of expectations. We evaluate these claims. An econometric investigation indicates that there is no basis to the claim that inflation has been lowered due to the anchoring of expectations. On the other hand, we are able to account for the trajectory of inflation in India after 2016 in terms of an alternative explanation of inflation, namely the structuralist.</p>","PeriodicalId":36028,"journal":{"name":"Indian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9244015/pdf/","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Indian Economic Review","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1007/s41775-022-00134-z","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"2022/6/27 0:00:00","PubModel":"Epub","JCR":"Q2","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}
引用次数: 1
Abstract
India has seen lower inflation by historical standards for the past 6 years. This has been attributed to the adoption of inflation targeting by the central bank, the Reserve Bank of India in 2016. In particular, it has been asserted that the lower inflation reflects the anchoring of expectations. We evaluate these claims. An econometric investigation indicates that there is no basis to the claim that inflation has been lowered due to the anchoring of expectations. On the other hand, we are able to account for the trajectory of inflation in India after 2016 in terms of an alternative explanation of inflation, namely the structuralist.
Indian Economic ReviewEconomics, Econometrics and Finance-Economics, Econometrics and Finance (miscellaneous)
CiteScore
2.10
自引率
0.00%
发文量
12
期刊介绍：
The Indian Economic Review aims to provide a platform for dissemination of innovative research in economics that employs theoretical and empirical approaches. Original research in all areas of economics is welcome. These areas include but are not limited toAgricultural and resource economics Behavioural economics Development economics Economic theory Economics of health and education Environmental economics Experimental economics Game theory Industrial organisation International trade and finance Law and economics Macro and monetary economics Poverty and inequality
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