November 05, 2018
Eroding the functional autonomy of RBI
The government appears to wish to weaken or erode the functional (if not legal) autonomy of the RBI, by imposing its will across a range of areas
October 22, 2018
There are no viable alternatives to inflation targeting
Early evidence suggests that inflation targeting has been working in India in the few years since the inception of the new policy framework
October 17, 2018
The great Indian inflation puzzle
The initial success of flexible inflation targeting by RBI’s monetary policy committee is undoubtedly welcome, but the acid test lies ahead
October 08, 2018
Myths, Theories and Rupee Realities
The slide in the rupee is propelled by multiple factors
October 08, 2018
Ill winds blow on Mint Road
The appointment of S. Gurumurthy to the RBI board suggests that the government is abandoning conventional economics in favour of its putative Indic alternative
August 29, 2017
Calls to Weaken Rupee are Misguided
The need for India to allow the market to freely determine the value of the Rupee while focussing on its inflation-targeting monetary policy regime.
August 20, 2017
Cut the Monetary Policy Committee Some Slack
Why has India's Monetary Policy Committee erred on overestimating inflation in the last two interest rate-setting decisions?
July 17, 2017
India and the Mundell-Laffer Policy Mix
Based on the Mundell-Laffer supply-side approach, one can view economic policy (and reforms) in the context of three broad buckets: tax and spending policy, monetary policy, and regulatory policy
February 27, 2017
Trump is on the Money on US Fed
The need for the US Fed to move away from unconventional monetary policies towards fixed, rule-based inflation targeting.
November 21, 2016
The Case for Sound Money
Over the course of history, trust in fiat currency has most often been weakened by erratic and high inflation, and shattered after episodes of hyperinflation.