The Reserve Bank of India (RBI) has moved away from a broad money target toward a quot;multiple indicatorsquot; approach to the conduct of monetary policy. In adopting such a framework, it is necessary to know which of the many potential indicators provide the most reliable and timely...

Many studies investigating the relation between inflation and exchange rates have found that exchange rates influenced inflation, while other studies have failed to do so or reported mixed results. These findings, however, might be spurious as the majority of the earlier investigations suffered...

The paper discusses a possible policy strategy towards achieving an investment grade status for emerging economies. Through the use of an econometric model, it determines which among the macroeconomic variables considered by Credit Rating Agencies (CRAs) impacts speculative and investment grade...

With revolutionary changes of the financial environment, due in particular to the progress of information and communication technology and the aftermath of the global financial crisis, central banks are facing new challenges in the pursuit of price, financial and exchange rate stability. This...

This paper investigates the impact of interest rate policy on employment using Korean data (1982.1/4~2012.4/4). Based on the analyses of impulse response functions, it was found that interest rate policy has a bigger impact on the cyclical component of employment than on total employment. The...

This paper analyzes the effects of the trade and financial networks on the propagation of the global financial crisis of 2008. We adopt a new methodology that incorporates a dynamic network approach into econometric analysis. Some interesting results are obtained. Firstly, both the trade and...