to their increase, an unanticipated hike in policy rate has no impact on them. The impact on inflation is also symmetric … neutral to components of aggregate demand and, thus, on inflation, ranging from 6.25 per cent to 7.0 per cent. …

data from 1996-97Q1 to 2011-12Q4. It finds that both the shocks impact real output growth and inflation in the short …. An unanticipated hike/reduction in policy rate leads to a symmetric decline/rise in inflation. An unanticipated change in … money supply leads to higher inflation, but a similar decrease in it has no significant impact on inflation. …

transmission channels of monetary policy to GDP growth and inflation in India. It finds that external exogenous factors prolong the … impact of monetary policy transmission on GDP growth and inflation in India, while removing the problem of ‘price puzzle … two quarters and subsequently impacts GDP growth and inflation negatively. The same monetary policy shock has a negative …