Inflation management is one of the hardest tasks an economic policymaker has to undertake. It appears, at first sight …, that one can rely entirely on commonsense to carry out this task. But that will be a cardinal mistake. While inflation … understanding of economic theory. This paper tries to bring together the formal analytics that underlie inflation policy. It surveys …

ensuring price and financial stability. [Bharti Annual Lecture at the Entrepreneurship Development Institute of India …