India's fiscal and monetary framework: growth in an opening economy

Since a crisis is a shock impinging on a system, the response can be used to deduce aspects of the system's structure. Analysis of the crisis and recovery suggests aggregate supply in India is elastic but subject to upward shocks. This has implications for cyclical policy and for fiscal consoli...

Full description

Saved in:
Bibliographic Details
Published inMacroeconomics and finance in emerging market economies Vol. 5; no. 1; pp. 108 - 123
Main Author Goyal, Ashima
Format Journal Article
LanguageEnglish
Published Abingdon Routledge 01.03.2012
Taylor and Francis Journals
Taylor & Francis Ltd
SeriesMacroeconomics and Finance in Emerging Market Economies
Subjects
aggregate supply elasticity
crisis
Economic crisis
Economic growth
Economic policy
Elasticity
exit
fiscal and monetary policy
Studies
India
Online AccessGet full text
ISSN1752-0843
1752-0851
DOI10.1080/17520843.2011.605523

Cover

More Information
Summary:Since a crisis is a shock impinging on a system, the response can be used to deduce aspects of the system's structure. Analysis of the crisis and recovery suggests aggregate supply in India is elastic but subject to upward shocks. This has implications for cyclical policy and for fiscal consolidation. Both monetary and fiscal policy should identify measures that would reduce costs, while avoiding too large a demand contraction. Specific policies are identified and Indian policies evaluated.
Bibliography:SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 14
ISSN:1752-0843
1752-0851
DOI:10.1080/17520843.2011.605523