National Council of Applied Economic Research
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 derived through perturbation techniques, and find that the presence of liquidity constraints requires... Read More
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 model for the Indian economy. This working paper comes out as... Read More
This paper examines the estimation procedure of domestic product for communication sector in India at constant prices. It is observed that the methods used for estimating domestic product at constant prices suffer from serious flaws with respect to communication sector. When corrected by using a simplified method, it is found that the growth in real terms... Read More
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. Nowhere is this more evident than in the discourse on demographic dividend... Read More
Cable Services (CS) has characteristics of excludable public goods, which means they have externalities, but with a degree of excludability to those who are not willing to pay its price. The paper analyses choices for CS using household data from small towns of India. The analysis is structured to go beyond affordability issues. The findings... Read More
This paper focuses on the implications of various land use policies being adopted in India with special reference to Delhi and the NCR region. It examines how far the economic reforms coupled with several changes in land use policies have helped spread development to neighbouring areas surrounding Delhi such as the Central National Capital Region... Read More
