I show that accounting for a structural monetary policy shock associated with the 2007-2008 global financial crisis is crucial in order to obtain moderate empirical support for the Fisher effect in India since the liberalization of the early 90’s. Additional empirical evidence about the...

This paper assesses the sustainability of fiscal policy in India from 1950 to 2010 using multicointegration techniques. Starting from the seminal approach of Granger and Lee (1989), the analysis is extended through more powerful econometric methodologies, including several types of...

This paper addresses an interesting theoretical intuition, originally put forward in De Grauwe (1989), according to which market efficiency should find stronger support in a pegged exchange rate regime rather than in a purely floating context. A cointegration-based empirical investigation on the...