The chapter examines progress as well as continuing concerns in G-20 led financial reforms, with particular emphasis on emerging markets (EMs). Although risks remain they are of a lower order of magni...
On 25 Apr 2019 New Keynesian Dynamic Stochastic General Equilibrium (DSGE) models with various specifications of technology, markup and interest rate shocks are estimated with Indian data using Kalman filter based p...
On 25 Apr 2019 Over 2017-18 there was a sharp rise in Indian government securities (G-Secs) interest rates unrelated to fundamentals. Examining each of the standard explanatory variables shows them to be inadequate...
On 29 Mar 2019 Indian post reform growth rates have been higher but more volatile compared to transition periods for other comparable countries. The reasons are aggravation of shocks due to unaddressed critical bott...
On 29 Mar 2019 Selfless activists like Mr. Pai teach us the importance of continuously interrogating the functioning of our democracy. The NPA issue has persisted for almost a decade. It has eroded the profitability...
On 29 Oct 2018 The paper examines behavioral constraints in policy-making and in achieving coordination across policies. First it applies psychological concepts to understand policy inadequacies, and next examines h...
On 29 Oct 2018 This paper takes a New Keynesian model with non-separable money in utility to Indian data using maximum likelihood. The identification problem in isolating the effect of money on output and inflation...
On 21 Sep 2018 The paper assesses the performance of India's managed float with respect to maintaining a real competitive exchange rate, its effect on trade, on stability of currency and financial markets, and on in...
On 24 Aug 2018 Gross capital inflows and outflows to and from emerging market economies (EMEs) have witnessed a significant increase since early 2000s. This rapid increase in these flows accompanied by sharp rise in...
On 25 Jul 2018 The paper presents a variety of indicators to show that demand constrained output during the period of growth slowdown 2011-17. It also draws on research to show the macroeconomic structure of the eco...
On 22 Feb 2018 This paper tests the bank lending channel against the aggregate demand channel as an explanation for slow credit growth by estimating the determinants of credit and of non- performing assets (NPAs) us...
On 15 Sep 2017 Causality from the capital account (KA) to the current account (CA) of the balance of payments indicates disruption from capital flows while the reverse can indicate smooth financing of the CA that al...
On 15 Sep 2017 The paper examines the strength and efficacy of transmission from the policy rate and liquidity provision to market rates in India, using event window regression analysis. The paper finds the interest...
On 15 Sep 2017 The paper estimates the relationship between the current account and fiscal deficit, and the real exchange rate, in a structural vector auto regression, with Indian data for the managed float period 1...
On 22 Jul 2017 |