Contributor : Profile
Gurbachan Singh is an independent economist, and adjunct faculty at the Indian Statistical Institute (ISI), Delhi Centre. His research is at the interface between finance and macroeconomics. His emphasis is on theory to explain the real world; his writings are primarily on policy. He writes research papers that are in-depth, fresh, exploratory, simple, and with a broad perspective. The main motivation is to understand and highlight the shortcomings of the system that lead to macro-financial instability in one way or another. He is also a keen teacher; his main teaching is on ‘Finance and Volatility’ at ISI Delhi Centre. He received his Ph.D. from ISI Delhi Centre, M.A. from Delhi School of Economics (DSE), and B.A.(Hons.) from Hindu College, University of Delhi. His other interests include good cinema.
Posts by Gurbachan Singh
Does the current economic slowdown warrant a fiscal boost?
The Indian economy is going through an economic slowdown. Several economists have made a case for an expansionary fiscal policy to deal with the slowdown. In this post, Gurbachan Singh argues that it ...
-
Gurbachan Singh
04 November, 2019
- Perspectives
Would RBI fund transfer weaken government's financial position?
The Reserve Bank of India (RBI) recently decided to transfer Rs. 1.76 trillion to the Government of India (GOI). If the RBI has inadequate capital, then it should not transfer funds to the GOI. But ev...
-
Gurbachan Singh
02 September, 2019
- Perspectives
Huge bank losses, frauds, and economic risks
Banks have incurred humongous losses in India. The public authorities have taken corrective measures primarily in the form of strengthening laws, audits, and the enforcement processes. In this articl...
-
Gurbachan Singh
09 March, 2018
- Perspectives
Self-employment: Elephant in the room
While nearly half of the labour force in India is self-employed, persistent low standards of living on a large scale imply that not many of these are ‘entrepreneurs’. Much of the self-employment ...
-
Gurbachan Singh
22 January, 2018
- Perspectives
Bubble in bitcoin or elsewhere?
The price of Bitcoin has skyrocketed. Gurbachan Singh contends that there may or may not be a bubble in cryptocurrencies. If there is a bubble, then the prices will fall eventually, and the story will...
-
Gurbachan Singh
11 December, 2017
- Perspectives
Recapitalisation of public sector banks, and financial repression
Government of India recently announced its decision to infuse Rs. 2.11 trillion of fresh capital into public sector banks, financed partly through recapitalisation bonds. In this article, Dr Gurbachan...
-
Gurbachan Singh
06 November, 2017
- Perspectives
Purchasing power parity: Some concerns
In this article, Dr Gurbachan Singh discusses how it may be problematic to make international comparisons using PPP that is based on observed prices, and why effective prices should be used instead.
-
Gurbachan Singh
04 October, 2017
- Articles
Should India hold US$400 billion of foreign exchange reserves?
RBI’s foreign exchange reserves have now crossed the US$400 billion mark. In this article, Dr Gurbachan Singh discusses why India’s Central Bank should not hold such large reserves.
-
Gurbachan Singh
03 October, 2017
- Perspectives
Towards financial prescription
The Securities and Exchange Board of India has proposed that the distributors of mutual funds should only be allowed to sell financial products and not act as financial advisers for customers. Drawing...
-
Gurbachan Singh
24 July, 2017
- Perspectives
Reconsidering the 4% inflation target
The RBI targets an inflation rate of 4%. In this article, Gurbachan Singh takes an in-depth look at the prevailing macroeconomic policy regime. This exercise provides an insight, which forms the basis...
-
Gurbachan Singh
16 January, 2017
- Perspectives
Demonetisation: Some very counterintuitive effects in practice
Due to demonetisation, holders of black money lose if they cannot exchange their notes or sell these in the black market. It is widely reasoned that this implies an equal financial gain for the public...
-
Gurbachan Singh
18 December, 2016
- Perspectives
A closer look at demonetisation
In this article, Gurbachan Singh contends that black money and white money are simplistic concepts; there is a grey area as well. In his view, the economic effects of demonetisation in terms of real e...
-
Gurbachan Singh
13 November, 2016
- Perspectives