Author/Editor: Jaromir Benes, Kevin Clinton, Asish George, Joice John, Ondra Kamenik, Douglas Laxton, Pratik Mitra, G V Nadhanael, Hou Wang, Fan Zhang.

Release Date:February, 2017

India formally adopted flexible inflation targeting (FIT) in June 2016 to place price stability, defined in terms of a target CPI inflation, as the primary objective of monetary policy. In this more...

Author/Editor: Jaromir Benes, Kevin Clinton, Asish George, Pranav Gupta, Joice John, Ondra Kamenik, Douglas Laxton, Pratik Mitra, G V Nadhanael, Rafael Portillo, Hou Wang, Fan Zhang.

Release Date:February, 2017

This paper outlines the key features of the production version of the quarterly projection model (QPM), which is a forward-looking open-economy gap model, calibrated to represent the Indian case, for more...