The study looked at how monetary policy affects the economy in India. They used data from 1960 to 2011 and found that positive and negative changes in monetary policy have different effects on output and prices. Positive changes have a quick impact on output, while negative changes have a longer-lasting effect on prices. They also found that using a nonlinear model to study monetary policy shows a bigger impact on output and prices compared to a linear model. Overall, the study suggests that using a nonlinear approach is beneficial for understanding how monetary policy influences the economy in India.