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Tag Search: “monetary policy”

Policymaking at a time of high risk-aversion

The key issues in the Indian financial sector in general, and banking in particular, are bearing risk and allocating capital. These are especially important now as India enters into a prolonged phase ...

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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 d...

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Covid-19: Dealing with the economic consequences

In the last two weeks, the Covid-19 pandemic has turned the world economy upside down, and all indicators point to one of the sharpest economic contractions in modern times. In this post, Ram Singh di...

  • Perspectives

Covid-19: Macroeconomic implications for India

Due to the measures adopted to prevent the spread of the Coronavirus Disease 2019 (Covid-19), especially social distancing and lockdown, non-essential expenditures are being postponed. This is causing...

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The electoral consequences of India’s demonetisation

It is widely believed that there may have been little or no electoral consequences of India’s demonetisation in 2016. This article analyses voter behaviour following demonetisation. It finds that plac...

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Should low-income countries open up to foreign capital? The India experiment

In 2001 and 2006, India introduced the automatic approval of foreign direct investments of up to 51% of domestic firms’ equity to industries in which foreign investment was initially restricted. This ...

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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 n...

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I4I Panel Discussion: Financing development in India

I4I recently organised a panel discussion on ‘Financing Development in India’ with Prachi Mishra (Goldman Sachs), Andy Mukherjee (Bloomberg), and Ananth Narayan (SPJIMR). The discussion was moderated ...

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Linking lending rates to external benchmark: Challenges and opportunities for banks

The Reserve Bank of India has made it mandatory for banks to link all new floating-rate personal, retail loans, along with loans to micro, small and medium enterprises to an external benchmark-based i...

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Government securities market: Price discovery and the cost of Indian government borrowing

The government securities (G-Secs) market has substantial effects on other markets as the producer of risk-free interest rate benchmarks. Over 2017-18, there was a sharp rise in the interest rates of ...

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Union Budget 2019: An attempt to address the economy’s stress points

In this post, Niranjan Rajadhyaksha contends that in the first Budget of the second Narendra Modi administration, Finance Minister Nirmala Sitharaman has made an honest attempt to address some of the ...

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The great disinflation in emerging and developing economies

Emerging market and developing economies (EMDEs) have achieved a remarkable decline in inflation since the early 1970s. Whether EMDEs can continue enjoying the benefits of low inflation will depend on...

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