Data revisions in India: Implications for monetary policy

N Kishor

Journal of Asian Economics, 2011, vol. 22, issue 2, 164-173

Abstract: This paper studies data revision properties of GDP growth and inflation for the Indian economy. The results show that revisions to GDP growth and inflation are significant, and cannot be characterized as either containing pure news or pure noise. We also find that there is a significant predictable component in the revisions to GDP growth and inflation. Our findings suggest that if the Reserve Bank of India were to follow a Taylor rule for its monetary policy formulation, then the interest rate based on the preliminary data would be much lower than the one based on the fully revised data.

Keywords: Data; revisions; Forecasting; Monetary; policy (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1049-0078(10)00102-8
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:asieco:v:22:y:2011:i:2:p:164-173

Access Statistics for this article

Journal of Asian Economics is currently edited by C. Wiemer

More articles in Journal of Asian Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().