No: WP-2019-028 AUTHOR: Rupayan Pal and Ruichao Song TITLE: Externalities, Entry Bias and Optimal Subsidy Policy in Oligopoly Abstract : This article analyses alternative subsidy schemes and long-run entry bias in a new industry that creates positive environmental externalities. It demonstrates that per unit subsidy scheme, despite attracting fewer firms, results […]
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Working Paper: Policy transmission in Indian money markets: The role of liquidity
No: WP-2019-027 AUTHOR: Ashima Goyal and Deepak Kumar Agarwal TITLE: Policy transmission in Indian money markets: The role of liquidity Abstract : We derive testable implications for transmission from Indian policy rate and liquidity provision to market rates as well as the interaction between rate and liquidity channels, from an analysis […]
Working Paper: Correlated Shocks, Hysteresis, and the Sacrifice Ratio: Evidence from India
No: WP-2019-026 AUTHOR: Ashima Goyal and Gagan Goel TITLE: Correlated Shocks, Hysteresis, and the Sacrifice Ratio: Evidence from India Abstract : In an emerging market subject to frequent shocks output sacrifice from disinflation depends not only on the Phillips curve slope but also on shifts in demand and supply. Introducing shocks […]
Working Paper: Modeling Consumers’ Confidence and Inflation Expectations
No: WP-2019-025 AUTHOR: Ashima Goyal and Prashant Parab TITLE: Modeling Consumers’ Confidence and Inflation Expectations Abstract : Using Consumer Confidence Survey data we analyze socio-economic as well as macroeconomic factors that influence inflation expectations of Indian households. We discover that inflation expectations of households depend largely on inflation perceptions, income and […]
Working Paper: Reaping Gains from Global Production Sharing: Domestic Value Addition and Job Creation by Indian Exports
No: WP-2019-024 AUTHOR: C Veeramani and Garima Dhir TITLE: Reaping Gains from Global Production Sharing: Domestic Value Addition and Job Creation by Indian Exports Abstract : Is it in the interest of a country to promote strong local linkages for domestic industries or to participate in global production sharing (GPS) activities […]
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Working Paper: Inflation Convergence and Anchoring of Expectations in India
No: WP-2019-023 AUTHOR: Ashima Goyal and Prashant Parab TITLE: Inflation Convergence and Anchoring of Expectations in India Abstract : Careful research on the inflation targeting regime’s impact on anchoring inflation expectations as well as an empirical examination of convergence is used to assess the direction of convergence between core and headline […]
