RBI paper questions impact of global spillovers
Authors find global spillovers are limited in India
India may not be as affected by the spillovers from advanced economy monetary policy as some studies have suggested, according to a paper published today (February 26) by the Reserve Bank of India (RBI).
In Global Spillovers and Monetary Policy Transmission in India, authors Michael Debabrata Patra, Sitikantha Pattanaik, Joice John and Harendra Kumar Behera study how the monetary transmission mechanism in India is affected by global policy spillovers.
They find liquidity measures in India, such
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