Cost of Holding Excess Reserves - The Indian Experience [PDF]
Most of the existing literature has used single reserve adequacy measures to evaluate the volume of excess reserves. In this paper, we employ empirical methods to generate a comprehensive reserve adequacy measure, incorporating the various objectives of ...
Abhijit Sen Gupta
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Exchange Rate Misalignment and Its Effects on Agricultural Producer Support Estimates: Empirical Evidence from India and China [PDF]
There have been different degrees of exchange rate disequilibrium in the developing countries during transition or reform periods. The level of the exchange rate and its misalignment can have significant impacts on agricultural policy measures such as ...
Cheng, Fuzhi, Orden, David
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Asia confronts the impossible trinity. [PDF]
In this paper, we examine capital account openness and exchange rate flexibility in 11 Asian countries. Asia has made slow progress on de jure capital account openness, but has made much more progress on de facto capital account openness.
Patnaik, Ila, Shah, Ajay
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Macroeconomic policy and the exchange rate: working together? [PDF]
The chapter reviews the behaviour of the Indian exchange rate over the past few years, and its interactions with the macroeconomic cycle. It examines the extent to which exchange rate policy has been able to contribute to lowering the probability of ...
Goyal, Ashima
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India's Approach to Capital Account Liberalization [PDF]
In this paper, I analyze India's approach to capital account liberalization through the lens of the new literature on financial globalization. India's authorities have taken a cautious and calibrated path to capital account opening, which has served the ...
Prasad, Eswar
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Is devaluation contractionary? empirical evidence for Pakistan [PDF]
The paper investigates the effect of real devaluation on economic growth. In the empirical model we also include other theoretically justified variables in the case of Pakistan, such as foreign remittances, money supply, and government spending.
Faridul, Islam +2 more
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Purchasing Power Parity and the Real Exchange Rate in Bangladesh: A Nonlinear Analysis [PDF]
The long-run purchasing power parity (PPP) hypothesis is examined using data for Bangladesh and its major trading partners - the US, Euro area, Japan and India - during the period 1994 to 2002. We apply recently developed nonlinear econometric techniques
Ibrahim Chowdhury
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"A Reassessment of the Use of Unit Labor Costs as a Tool for Competitiveness and Policy Analyses in India" [PDF]
We reinterpret unit labor costs (ULC) as the product of the labor share in value added, times a price adjustment factor. This allows us to discuss the functional distribution of income.
Jesus Felipe, Utsav Kumar
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Exchange Rate Pass-through to Consumer Prices in Pakistan: Does Misalignment Matter? [PDF]
This study investigates the impact of exchange rate changes on consumer prices (commonly known as exchange rate pass-through (ERPT)) in Pakistan for the period 1995M1 to 2009M3.
Atif Ali Jaffri
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Stamp duties in Indian states - a case for reform [PDF]
The authors review the options for reform of stamp duties on immovable property transfers collected by Indian state governments. After briefly reviewing some of the many administrative difficulties experienced with the tax, they turn to an examination of
Alm, James +2 more
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