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Sagar Wadhwa
Sagar Wadhwa is an economist in the technology sector. He holds a PhD in Economics from Brown University and a Bachelor's in Economics from St. Stephen's College. His research interests include development economics, applied econometrics and policy evaluations.
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How did demonetisation affect household consumption?
‘Demonetisation’ announced in India in 2016 made 86% of cash in circulation illegal tender overnight. This article finds that it led to a decline in household consumption in the initial months after demonetisation. The decline in consumption was the highest for the richest households, while the poorest households had the least impact on consumption. However, poor households had to rely on informal credit to maintain their consumption.
Poverty is bad – but is vulnerability worse?
Official data reveal that poverty in India has declined significantly over time. In this post, Kamila and Wadhwa make the case for policy discourse to shift towards the phenomenon of ‘vulnerability’. Presenting their view on alternative methods of quantifying vulnerability, they highlight the challenges of leveraging existing data for this purpose and the kinds of data that would be needed to capture the essence of vulnerability.