Li, Shanjun; Eichengreen, Barry; Gupta, Poonam; … - 2020
This paper provides an assessment of India's inflation-targeting regime. It shows that the Reserve Bank of India is … transition to inflation-targeting; to the contrary, adjusting for inflation and the output gap, policy rates became lower, not … inflation expectations, indicative of improved anti-inflation credibility. The question is whether the shift to inflation-targeting …