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Crowding-Out or Crowding-In? Public and Private Investment in India

This paper contributes to the debate on the relationship between public and private investment in India along the following dimensions. First, acknowledging major structural changes that the Indian economy has undergone in the past three decades, we study whether public investment in recent years...

Girish Bahal, Mehdi Raissi, Volodymyr Tulin
May 2018
Money's Causal Role in Exchange Rate: Do Divisia Monetary Aggregates Explain More?

We investigate the predictive power of Divisia monetary aggregates in explaining exchange rate variations for India, Israel, Poland, UK and the US, in the years leading up to and following the 2007-08 recessions. One valid concern for the chosen sample period is that the interest rate has been stuck...

Taniya Ghosh, Soumya Bhadury
Feb 2018
Demographics and FDI: Lessons from China's One-Child Policy

Lucas (1990) argues that the neoclassical adjustment process fails to explain the relative paucity of FDI inflows from rich to poor countries. In this paper we consider a natural experiment: using China as the treated country and India as the control, we show that the dynamics of the relative FDI...

John Donaldson, Christos Koulovatianos, Jian Li, Rajnish Mehra
Jan 2018
Input Output Table for India: 2013-14

The input–output table for India has been constructed for the year 2013-14 consistent with the National Accounts estimates given in the National Accounts Statistics (NAS) 2015, while the supply use table (SUT) is for the year 2012-13. In order to allow for comparisons with the 2007-08 input-output...

Kanhaiya Singh, M R Saluja
Dec 2016
Inflation Targeting for India?: The Implications of Limited Asset Market Participation

This paper analyzes whether liquidity constraints matter for optimal monetary policy choices in an open economy. Asset market participation is limited as some agents lack financial capacity and behave in a hand-to-mouth fashion. I evaluate consumer welfare using a micro-founded welfare criterion...

Tara Iyer
Jul 2015
A Dynamic Stochastic General Equilibrium Model for India

Over the last decade, the Dynamic Stochastic General Equilibrium (DSGE) framework has become a workhorse for macroeconomic analysis in both academic and policy circles. Following this emerging trend, we aim to expand our research capacity in macroeconomics at NCAER by introducing a baseline DSGE...

Shesadri Banerjee, Parantap Basu
May 2015
Domestic Product at Current and Constant (2004-05) Prices in India: Issues in Estimation of Communication Sector

This paper examines the estimation procedure of domestic product for communication sector in India at constant prices.

Kanhaiya Singh, R P Katyal
Apr 2015
Demographic Deposit, Dividend and Debt

In spite of the rising academic attention to path-dependency in social history, when it comes to the history of economic thinking, we seem to be stuck in a Markovian nirvana where debates of the past are forgotten under the onslaught of new ideas.

Sonalde Desai
Dec 2014
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