Covid 19 and Fiscal-Monetary Policy Co-ordination: Empirical Evidence from India

Lekha S Chakraborty and Harikrishnan S

MPRA Paper from University Library of Munich, Germany

Abstract: Against the backdrop of covid-19 pandemic, the paper analyses the economic stimulus packages announced by the national government in the context of India and tries to identify the plausible fiscal and monetary policy co-ordination. The shrinking fiscal space due to revenue uncertainties has led to a theoretical plausibility of a re-emergence of finite monetisation of deficits in India. However, the empirical evidence confirms no direct monetisation of deficit.

Keywords: Fiscal-Monetary Policy Co-ordination; Fiscal Deficits; Monetisation; Covid 19 (search for similar items in EconPapers)
JEL-codes: E58 E62 E63 (search for similar items in EconPapers)
Date: 2021-08
New Economics Papers: this item is included in nep-mac and nep-mon
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