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首页> 外文期刊>Asia-Pacific Sustainable Development Journal >PRICE CO-MOVEMENTS, COMMONALITIES AND RESPONSIVENESS TO MONETARY POLICY: EMPIRICAL ANALYSIS UNDER INDIAN CONDITIONS
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PRICE CO-MOVEMENTS, COMMONALITIES AND RESPONSIVENESS TO MONETARY POLICY: EMPIRICAL ANALYSIS UNDER INDIAN CONDITIONS

机译：价格CO-MOVEMENTS、共性和响应性货币政策:经验在印度的条件下分析

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摘要

This study aims to empirically establish the co-movement of price indices of seemingly unrelated commodities, suggesting that the Central Bank should not decouple fluctuation in the national price index into volatile and core components. An attempt is also made to understand whether monetary policy can influence the factors responsible for price fluctuations in the states of India. The study becomes especially relevant under Indian conditions where flexible inflation targeting has been adopted by the Reserve Bank of India (Central Bank of India) and achieving the targeted inflation is a primary concern of the Indian government. The results of the empirical analysis clearly reveal that unrelated price indices co-move in India, and that monetary policy initiatives fail to influence the common factors of the states of India. The empirical results have crucial implications for the Reserve Bank of India and, as such, a conscious effort is needed to enable policy to influence the price indices of the states of India.
机译：本研究旨在经验建立co-movement看似的价格指数不相关的商品,这表明中央银行不应该解耦波动国家物价指数波动和核心组件。货币政策能否影响因素负责在美国的价格波动印度。在印度的情况下,灵活的通胀针对采用储备银行印度(印度中央银行)和实现有针对性的通货膨胀是主要关心的问题印度政府。分析清楚地表明,价格无关指数co-move在印度,和货币政策不能影响常见印度国家的因素。结果对保护区产生至关重要的影响印度和银行,因此,一个有意识的努力需要使政策能够影响价格印度的指数的州。

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