NO : WP-2024-011 AUTHOR : Ashima Goyal TITLE : Misconceptions in Indian fiscal federalism ABSTRACT : We examine common views regarding weakening of rights of states and finds them to be misconceptions. Indian states get more resources and freedoms than in most federal countries. Some fiscal restraints on states borrowing are necessary to […]
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Money and Output Asymmetry: The unintended consequences of central banks’ obsession with inflation
NO : WP-2023-07 AUTHOR : Taniya Ghosh and Abhishek Gorsi TITLE : Money and Output Asymmetry: The unintended consequences of central banks’ obsession with inflation ABSTRACT : The study reexamines the relationship between money and output for the US, UK, and the Euro Area using quarterly data up to 2022. […]
Multidimensional Index: A Note
NO : WP-2024-007 AUTHOR : Srijit Mishra TITLE : Multidimensional Index: A Note ABSTRACT : This paper identifies the problem of information loss in computation of multidimensional index on account of cut-offs between and within dimensions. The former refers to the cutoff across dimensions on account of headcount fetish and the latter points […]
Policy Alternatives for Accelerating Health & Educational Attainments of Children in India: An Analysis using Computable General Equilibrium Model
NO : WP-2024-002 AUTHOR : Runu Bhakta and A. Ganesh-Kumar TITLE : Policy Alternatives for Accelerating Health & Educational Attainments of Children in India: An Analysis using Computable General Equilibrium Model ABSTRACT : Assessing the impact of alternative policy options on developmental goals relating to health and education remains an analytical challenge due […]
Privacy Regulation, Cognitive Ability, and Stability of Collusion
NO : WP-2024-004 AUTHOR : Rupayan Pal and Sumit Shrivastav TITLE : Privacy Regulation, Cognitive Ability, and Stability of Collusion ABSTRACT : This article analyzes implications of privacy regulation on stability of tacit collusion. It shows that privacy regulation is likely to hurt consumers’ economic benefits, through its competition dampening effect. A more […]
Property Inheritance Rights and Female Political Participation in India
NO : WP-2024-012 AUTHOR : Bharti Nandwani and Punarjit Roychowdhury TITLE : Property Inheritance Rights and Female Political Participation in India ABSTRACT : The paper examines whether granting property inheritance rights to females improves their participation in politics as election candidates in India. Conservative gender norms in pa¬triarchal societies like India discourage women […]
Rein in Pandemic by Pricing Vaccine: Does Social Trust Matter?
NO : WP-2023-08 AUTHOR : Upasak Das, Rupayan Pal, Udayan Rathore and Bibhas Saha TITLE : Rein in Pandemic by Pricing Vaccine: Does Social Trust Matter? ABSTRACT : In this paper, we explore the role of Generalized Social Trust (GST) in promoting public health during pandemics. We theorize and empirically […]
Similarities yet Divergence in South Asian Macroeconomic Performance
NO : WP-2023-013 AUTHOR : Ashima Goyal TITLE : Similarities yet Divergence in South Asian Macroeconomic Performance ABSTRACT : Stylized business cycle facts for South Asia are similar and differ from other regions. They show the dominance of supply shocks, often amplified by macroeconomic policies and procyclical current accounts. Interest and exchange rate […]
STABILIZTION POLICY OPTIONS IN A “LOWER AND LONGER” (L&L) INTEREST RATES ENVIRONMENT
NO : WP-2024-005 AUTHOR : D.M.NACHANE TITLE : STABILIZTION POLICY OPTIONS IN A “LOWER AND LONGER” (L&L) INTEREST RATES ENVIRONMENT ABSTRACT : During episodes of severe depression, interest rates can approach the zero lower bound (ZLB) and stay there for a fairly long time. Mainstream macroeconomic theory (the so-called New Consensus Economics) then […]
STABLE SETS IN ECONOMIES WITH CLUB GOODS
NO : WP-2023-011 AUTHOR : Japneet Kaur TITLE : STABLE SETS IN ECONOMIES WITH CLUB GOODS ABSTRACT : In an economy with club goods, we introduce the concept of von Neumann-Morgensetern stable sets. Our main result provides a correspondence between stable sets of a club economy comprising a continuum of agents and finitely […]
