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Inflation Targeting, Monetary Policy Surprises, and Capital Misallocation by Vaibhav Nainwal (CAFRAL), Rajeswari Sengupta (IGIDR), Vidhya Soundararajan (CAFRAL)

NO : WP-2026-018 AUTHOR : Vaibhav Nainwal (CAFRAL), Rajeswari Sengupta (IGIDR) Vidhya Soundararajan (CAFRAL) TITLE : Inflation Targeting, Monetary Policy Surprises, and Capital Misallocation ABSTRACT : We examine whether a more predictable monetary policy framework improves the allocation of capital across firms. Using firm-level data from the Indian manufacturing sector […]

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Price Responsiveness of Household Electricity Demand under Increasing Block Tariffs: Evidence from India by Nirmala, Manisha Jain and Disha Gupta

NO : WP-2026-017 AUTHOR : Nirmala, Manisha Jain and Disha Gupta TITLE : Price Responsiveness of Household Electricity Demand under Increasing Block Tariffs: Evidence from India ABSTRACT : Increasing block tariffs (IBTs) are widely used in household electricity pricing to balance the dual policy goals of efficiency and affordability. This […]

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Can Simple Information Update Inflation Expectations? Evidence from an Indian Household Survey by Roshin Paul P and Taniya Ghosh

NO : WP-2026-016 AUTHOR : Roshin Paul P and Taniya Ghosh TITLE : Can Simple Information Update Inflation Expectations? Evidence from an Indian Household Survey ABSTRACT : Using an original household survey of 1,010 urban households across Delhi, Mumbai, Chennai, and Kolkata, we study Indian households’ awareness of official inflation […]

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Inflation Awareness, Expectation Formation, and Monetary Policy Communication: Evidence from Indian Firms by Roshin Paul P and Taniya Ghosh

NO : WP-2026-015 AUTHOR : Roshin Paul P and Taniya Ghosh TITLE : Inflation Awareness, Expectation Formation, and Monetary Policy Communication: Evidence from Indian Firms ABSTRACT : Drawing on an original survey of 485 firms spanning four major metropolitan areas — Delhi, Mumbai, Chennai, and Kolkata — we examine firms’ […]

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