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Money & Finance

How financial stress impacts consumer confidence

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How financial stress impacts consumer confidence

The financial turmoil of 2008 and the subsequent recession amplified the association between vulnerabilities in the financial markets and the real economy. Examining the behavioural responses of India...

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New banks, credit, and misallocation

In the late 1990s, India opened its banking sector to new private banks – both domestic and foreign. This article shows that this resulted in greater flow of credit – but only for big firms. Highe...

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Seeking ‘greenium’

While sustainable investing is growing rapidly, it is unclear who is benefitting from this and how. Based on analysis of data on green bonds and loans, this article finds that the gainers are mainly f...

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Aadhaar, demonetisation, and the poor

There is a view that an Aadhaar-centred apparatus of digital inclusion can shield the poor from the problematic effects of demonetisation. In this article, Silvia Masiero argues that constraints of te...

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Assessing the impact of demonetisation through the gender lens

In this article, Mitali Nikore, Senior Consultant at PwC India, highlights how demonetisation is impacting women differentially, and offers policy suggestions on how the negative effects can be mitiga...

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On demonetisation

On the evening of 8 November, the Prime Minister announced on national television that Rs. 1,000 and 500 notes are no longer legal tender, and must be exchanged at the banks for newly issued currency....

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Demonetisation: A thunderbolt in search of a target

In this article, Ajit Karnik, Professor of Economics at Middlesex University, Dubai, examines the various rationales that have been trotted out to justify demonetisation and finds little evidence to b...

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Post-demonetisation: Can the old notes return?

Banks in India are reported to have received about 87.7% of the demonetised currency notes so far. In this article, Badri Sunderarajan argues that when once all the old notes have come in, it would ma...

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India’s demonetisation drive: Politics trumps economics

In this article, Siddhartha Mitra, Professor of Economics at Jadavpur University, argues that even though demonetisation fails the standard economic cost-benefit test with regard to its stated objecti...

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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...

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Will demonetisation lead to a protracted economic slowdown?

In this article, Pandey and Sengupta argue that the impact of the contractionary demand shock triggered by the note ban will gradually radiate from cash-intensive activities to virtually every sector ...

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The demonetisation boondoggle

In this article, Amartya Lahiri, Professor of Economics at the University of British Columbia, argues that all public policy must rely on a clear-headed cost-benefit analysis and the recent demonetisa...

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why demonetisation?

In this article, Sarmistha Pal, Chair in Financial Economics at the University of Surrey, examines whether the current government’s stance in tackling black money has significantly differed from its...

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Demonetisation and agricultural markets

In this article, Aggarwal and Narayanan contend that demonetisation alone cannot turn agricultural markets cashless. Such a shift would require sustained and focussed effort to expand the reach of for...

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Consequences of the demonetisation shock

In this article, Sudipto Mundle, Emeritus Professor at NIPFP, contends that we are likely to see a significant dip in economic activity till January 2017 or even till the end of the current financial...

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Harsh Vardhan

Management Consultant and Researcher

Debasis

Debasis Rooj

FLAME University

Reshmi

Reshmi Sengupta

FLAME University

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Anurag Banerjee

Jindal School of Banking and Finance

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Pavel Chakraborty

Lancaster University

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Nirvana Mitra

Centre for Advanced Financial Research and Learnin

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Jitendra Aswani

MIT Sloan

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Shivaram Rajgopal

Columbia Business School

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