Author: Utso Pal Mustafi (CEMFI, Spain) and Rajeswari Sengupta (IGIDR) Title: Regime changes in India’s monetary policy and Tenures of RBI governors Abstract: In this paper, we estimate regime switches in Indian monetary policy during the period 1998-2017. Prior to the adoption of an inflation targeting rule in 2016, monetary policy in […]
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Working Paper: Coping with the Consequences of Short-Term Illness Shocks: The Role of Intra-Household Labour Substitution
Author: Abhishek Dureja and Digvijay S. Negi Title: Coping with the Consequences of Short-Term Illness Shocks: The Role of Intra-Household Labour Substitution Abstract: In developing countries where medical infrastructure and service delivery system, and the market for health insurance are underdeveloped, one important mechanism to cope with the consequences of health shocks is […]
Working Paper: Market Access, Price Policy and Diversification in Indian Agriculture
Author: Digvijay S Negi, Pratap S Birthal, Devesh Roy and Jaweriah Hazrana Title: Market Access, Price Policy and Diversification in Indian Agriculture Abstract: This paper provides empirical evidence of a causal relationship between the access to markets and the crop partial policies on the pattern of specialization or diversification in Indian […]
Working Paper: Cross Border Flows, Financial Intermediation and Interactions of Policy Rules in a Small Open Economy Model
Author: Ashima Goyal and Akhilesh K. Verma Title: Cross Border Flows, Financial Intermediation and Interactions of Policy Rules in a Small Open Economy Model Abstract: We present a small open economy New Keynesian model with financial intermediation to investigate the interaction between monetary policy and macroprudential regulations. Our model economy attempts to capture […]
Working Paper: Network Compatibility, Intensity of Competition and Process R&D : A Generalization
No: WP-2020-007 Author: Sumit Shrivastav Title: Network Compatibility, Intensity of Competition and Process R&D : A Generalization Abstract: This paper analyses implications of network compatibility and competition on process innovation in differentiated network goods duopoly. It shows that firms R&D investments are strategic substitutes (complements), if effective network compatibility is less (more) than […]
Working Paper: Shilnikov Chaos, Low Interest Rates, and New Keynesian Macroeconomics
No: WP-2020-006 Author: William A. Barnett, Giovanni Bella, Taniya Ghosh, Paolo Mattana and Beatrice Venturi Title: Shilnikov Chaos, Low Interest Rates, and New Keynesian Macroeconomics Abstract: The paper shows that in a New Keynesian (NK) model, an active interest rate feedback monetary policy, when combined with a Ricardian passive fiscal policy, à la Leeper-Woodford, […]
Working Paper: Role of Money in the Monetary Policy: A New Keynesian and New Monetarist Perspective
No: WP-2020-005 Author: Masudul Hasan Adil and Neeraj R. Hatekar and Taniya Ghosh Title: Role of Money in the Monetary Policy: A New Keynesian and New Monetarist Perspective Abstract: In the recent scenario, one of the most pertinent changes in monetary economics has been the virtual disappearance of what was once a […]
Working Paper: Do Storage and Structural Factors Determine Agricultural Commercialization in India?
No: WP-2020-004 Author: A. Ganesh-Kumar and Varun Kumar Das Title: Do Storage and Structural Factors Determine Agricultural Commercialization in India? Abstract: This paper analyses the role of storage facility and structural factors in determining agricultural commercialization in India. Commercialization of agriculture represents an important aspect of farm market behaviour. Farmers’ commercialization decision may be […]
Working Paper: Profitability in Emerging Markets: Efficiency or Market Power? A Study of Indian Firms
No: WP-2020-003 Author: Ramesh Jangili Title: Profitability in Emerging Markets: Efficiency or Market Power? A Study of Indian Firms Abstract: The legal systems in emerging economies are weak and hence unsuccessful in completely eliminating market abuse, which could benefit some segment of firms to earn higher profits. This further leads to market imperfections and eventually […]
Working Paper: International Risk Sharing for Food Staples
No: WP-2020-002 Author: Digvijay S. Negi and Bharat Ramaswami Title: International Risk Sharing for Food Staples Abstract: It is claimed that the world food supplies are more stable than the domestic supplies, and therefore free trade should achieve a higher degree of stability in prices and consumption than autarkic policies. […]
