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Monetary Policy in India: The Long Road to Inflation Targeting by Rajeswari Sengupta (Indira Gandhi Institute of Development Research)
NO : WP-2026-005 AUTHOR :Rajeswari Sengupta (Indira Gandhi Institute of Development Research) TITLE : Monetary Policy in India: The Long Road to Inflation Targeting ABSTRACT : This paper traces the evolution of monetary policy in India and the institutional, intellectual, and macroeconomic forces that culminated in the adoption of flexible inflation targeting (FIT) in […]
Food, Headline, and Core Inflation: Horizon-Dependent Transmission in India by Kritika Sharma, Taniya Ghosh
NO : WP-2026-004 AUTHOR :Kritika Sharma, Taniya Ghosh TITLE : Food, Headline, and Core Inflation: Horizon-Dependent Transmission in India ABSTRACT : Food price shocks are often treated as transitory and largely irrelevant for underlying inflation. In emerging economies, where food has a large weight, such shocks may be more persistent and broader in their […]
Do Actions Match Words? Reassessing the Taylor Rule in an Emerging-market Context by Vaishali Garga (Federal Reserve Bank of Boston), Benjamin Gryzb (Federal Reserve Bank of Boston) and Rajeswari Sengupta (Indira Gandhi Institute of Development Research)
NO : WP-2026-003 AUTHOR : Vaishali Garga (Federal Reserve Bank of Boston), Benjamin Gryzb (Federal Reserve Bank of Boston) and Rajeswari Sengupta (Indira Gandhi Institute of Development Research) TITLE : Do Actions Match Words? Reassessing the Taylor Rule in an Emerging-market Context ABSTRACT : We examine whether India’s adoption of inflation targeting in 2015 […]
Tackling India’s jobs plight: Underutilised levers and lessons from China by Alicia García Herrero (Natixis Bank) and Rajeswari Sengupta (IGIDR, Mumbai)
NO : WP-2026-002 AUTHOR : Alicia García Herrero (Natixis Bank) and Rajeswari Sengupta (IGIDR, Mumbai) TITLE : Tackling India’s jobs plight: Underutilised levers and lessons from China ABSTRACT : Despite strong GDP growth and favourable demographics, India faces an impending jobs crisis. A large share of the workforce remains stuck in low-productivity agriculture, while […]
Firm-Level Trade Responses to Intellectual Property Reforms: Evidence from India by Qayoom Khachoo, Ridwan Ah Sheikh, Pritam Banerjee
NO : WP-2026-001 AUTHOR : Qayoom Khachoo, Ridwan Ah Sheikh, Pritam Banerjee TITLE : Firm-Level Trade Responses to Intellectual Property Reforms: Evidence from India ABSTRACT : This study leverages India’s Patents (Amendment) Act, 2002, as a quasi-natural experiment within a difference-in-differences framework to examine how domestic reforms related to patents may affect firms’ export […]
Inequality, urbanization, and the Kuznets process: Evidence from India’s annual Periodic Labour Force Surveys by S. Chandrasekhar, K. Naraparaju and A. Sharma
Carbon Credit Trading and India’s Green Transition by Saurav Kumar, Taniya Ghosh, Shesadri Banerjee
NO : WP-2025-027 AUTHOR : Saurav Kumar, Taniya Ghosh, Shesadri Banerjee TITLE : Carbon Credit Trading and India’s Green Transition ABSTRACT : This study examines the macroeconomic dynamics under the recently announced intensity-based Carbon Credit Trading Scheme (CCTS) in India using an Environmental Dynamic Stochas¬tic General Equilibrium framework. The policy freely allocates carbon certificates […]
Exchange Rate Volatility and its Impact on Borrowing Costs by Ashima Goyal and Sritama Ray
NO : WP-2025-026 AUTHOR : Ashima Goyal and Sritama Ray TITLE : Exchange Rate Volatility and its Impact on Borrowing Costs ABSTRACT : Reducing borrowing costs for emerging markets (EMs) is a challenge. The additional country risk premia that foreign investors seek are primarily driven by a fear of unexpected currency depreciation; which often […]
Revisiting the Impact of TRIPS on Trade: Evidence from Staggered Difference-in-Differences by Ridwan Ah Sheikh and Sunil Kanwar
NO : WP-2025-025 AUTHOR : Ridwan Ah Sheikh and Sunil Kanwar TITLE : Revisiting the Impact of TRIPS on Trade: Evidence from Staggered Difference-in-Differences ABSTRACT : This paper uses an extended two-way fixed effects (ETWFE) estimator for staggered difference-in-differences to evaluate the impact of compliance with the 1995 agreement on Trade-Related Aspects of Intellectual […]
