Rajan has his work ‘cut-out’ for him

Raghuram Rajan has been nominated Governor of the  Central Bank of India. The chart below illustrates the Indian economy from an MM perspective.

Rajan in ICB

Some months ago Lars did a post contesting an Indian economist who was mistaken about market monetarism and NGDP level targeting: “India needs market monetarism

Rajan is a finance guy and is unlikely to do well as a central banker. But I hope I´m wrong.

Here´s a link to some RR pieces for Project Syndicate.

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