With the Reserve Bank of India policy review just around the corner, it is time to take a hard look at the efficacy of monetary policy or inflation targeting since the financial crisis of 2008. It has been more than 25 years since inflation targeting arrived on the scene and since then it has grown to dominate central bank strategies across the world. It is currently facing its most stubborn test on efficacy.
This reminds me of the North American opossum. When threatened, opossums, act as if they are dead. My question is, whether inflation targeting as a policy tool is exhibiting similar ...
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