Series: IMF Working Papers
Author(s): Muneesh Kapur , and Michael Patra
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 May 2012
Keywords: McCallum Rule, Monetary Policy Reaction Function, Neutral Interest Rate, Taylor Rule, inflation, monetary base, monetary policy rules, central bank, Open Economy Macroeconomics,
This paper empirically evaluates the operational performance of the McCallum rule, the Taylor rule and hybrid rules in India over the period 1996-2011 using quarterly data, with a view to analytically informing the...