Series: IMF Working Papers
Author(s): Jaromir Benes , Kevin Clinton , Asish George , Joice John , Ondra Kamenik , Douglas Laxton , Pratik Mitra , G.V. Nadhanael , Hou Wang , and Fan Zhang
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 13 February 2017
Keywords: Asia and Pacific, Disinflation, India, Inflation targeting, Forecasting models, Monetary policy, Price stabilization, Central banks and their policies, inflation targeting; Reserve Bank of India; inflation episodes in India; forecasting models; monetary policy models; model calibration; monetary policy rules; monetary policy simulations, Reserve Bank of India
India formally adopted flexible inflation targeting (FIT) in June 2016 to place price stability, defined in terms of a target CPI inflation, as the primary objective of monetary policy. In this context, the paper d...