Every financial crisis leaves behind important lessons, while exposing the limitations of the policy framework for preventing a systemic crisis. The sub-prime crisis has seriously dented the credibility of every institution vested with the responsibility for promoting financial stability....

This paper highlights that an open economy, like Oman, could often enjoy partial monetary policy independence despite operating with a fixed peg, which may appear as a clear violation of the 'macroeconomic trilemma'. While explaining the country-specific factors that create the scope for partial...

In the policy debate on growth--inflation trade-off and the role of monetary policy in managing the trade-off in the short-run, theoretical and empirical research suggests the presence of a country specific threshold level of inflation. Empirical findings of this paper suggest that for India the...