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Gabriel Chodorow-Reich
Harvard University
Gabriel Chodorow-Reich is an Associate Professor of economics at Harvard University. His research focuses on macroeconomics, finance, and labour economics.
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Cash and the economy: Evidence from India’s demonetisation
‘Demonetisation’ announced in India in December 2016 made 86% of cash in circulation illegal tender overnight, with new notes gradually introduced over the next several months. This article combines novel data sources to quantify impacts on economic activity and credit growth after the unprecedented natural experiment. Districts experiencing more severe demonetisation shocks had relative reductions in economic activity, faster adoption of alternative payment technologies, and lower bank credit growth.
18 October 2019
Macroeconomics
Macroeconomics
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