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e-book

What is Responsible for India'apos;s Sharp Disinflation? (Cód: 9453842)

Sajjid Chinoy; Pankaj Kumar

INTERNATIONAL MONETARY FUND

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What is Responsible for India'apos;s Sharp Disinflation?

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Descrição

We analyze the dramatic decline in India's inflation over the last two years using anaugmented Phillips Curve approach and quantify the role of different factors. Our resultssuggest that, contrary to popular perception, the direct role of lower oil prices in India'sdisinflation was relatively modest given the limited pass-through into domestic prices.Instead, we find that inflation is a highly persistent process in India, reflecting very adaptiveexpectations and the backward looking nature of wage and support price-setting. As aconsequence, we find that a moderation of expectations, both backward and forward, and arationalization of Minimum Support Prices (MSPs), explain the bulk of the disinflation overthe last two years.

Características

Peso 0.00 Kg
Produto sob encomenda Não
Marca INTERNATIONAL MONETARY FUND
Número de Páginas 37 (aproximado)
Idioma 337
Acabamento e-book
Cód. Barras 9781475533453
AutorSajjid Chinoy; Pankaj Kumar