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Monetary Policy Transmission in Financial Markets: The Case of India
Journal of Business Thought
<p>The paper looks into the monetary policy transmission across different segments of the financial market in India from May 2011 to March 2018. It studies the effect of two instruments ie, policy rate and a composite index ( score) comprising of quantity instruments and policy rates on the money market, govt. securities market, foreign exchange market and the stock market using VAR analysis. The results show that monetary transmission is fairly quick in the money market and other interestdoi:10.18311/jbt/2021/27718 fatcat:ihifez2oxnhjvniqudmz4sxpde