Mishra, Akanksha and Dubey, Amlendu (2025) The impact of restrictive monetary policy in emerging countries. Structural Change and Economic Dynamics, 74. pp. 915-927. ISSN 0954349X
![[thumbnail of 1-s2.0-S0954349X25001146-main.pdf]](https://pure.jgu.edu.in/style/images/fileicons/text.png)
1-s2.0-S0954349X25001146-main.pdf - Published Version
Restricted to Repository staff only
Download (909kB) | Request a copy
Abstract
We study the sacrifice ratios for 465 disinflationary episodes in emerging market and developing economies using a dataset of 123 countries during 1979 to 2023. We find that average output cost of disinflation was significantly higher during COVID-19 period as compared to the previous disinflationary episodes, suggesting that supply side disruptions elevated the output costs of monetary tightening during the period. Further, we find that speed of disinflation and peak inflation significantly reduce sacrifice ratios suggesting a role for “cold turkey” approach as against the gradualism.
Item Type: | Article |
---|---|
Subjects: | Social Sciences and humanities > Economics, Econometrics and Finance > Econometrics Social Sciences and humanities > Economics, Econometrics and Finance > Economics Social Sciences and humanities > Economics, Econometrics and Finance > Statistics and Probability Social Sciences and humanities > Social Sciences > Development |
JGU School/Centre: | Jindal Global Business School |
Depositing User: | Mr. Gautam Kumar |
Date Deposited: | 03 Jul 2025 08:20 |
Last Modified: | 03 Jul 2025 08:20 |
Official URL: | https://doi.org/10.1016/j.strueco.2025.06.016 |
URI: | https://pure.jgu.edu.in/id/eprint/9749 |
Downloads
Downloads per month over past year