... as possible indicators of economic performance, such as economic growth. Andersen and Gruen (1995) emphasized the importance of macro-policies in explaining growth, particularly when countries are far from their steady-state incomes. Fiscal and monetary policies are the two standard macroeconomic policy...

...) is applied. Findings The results report that the legal autonomy of RBI increased specifically after the reforms and post formulation of Monetary Policy Committee (MPC). However, the actual independence of RBI remains more or less in line within the critical threshold limit of 0.2. Practical...

... they advocated state monetary policy (free from the vagaries of gold) in order to stablise the trade cycle (Skidelsky 1995). [8] Keynes held, of course, that productive investors tended to be reasonably “interest inelastic” suggesting that easy money itself was insufficient without demand management...

...Helmut Wagner Purpose The paper analyses the challenges of globalization for exchange rate and monetary policy. Design/methodology/approach It first deals with the implications of globalization for the choice of an appropriate exchange rate regime. Then it discusses different strategic aspects...

...Demetrius C. Yannelis A simple IS‐LM model under imperfect competition and increasing returns is examined. It is shown that when firms maximize profits the values of the fiscal and monetary policy multipliers are smaller than their respective ones under perfect competition. If firms follow a cost...