Publications

For Publications by year

Social sectors

Chennai 2015: A novel approach to measuring the impact of a natural disasterWorking paper, National Institute of Public Finance and Policy.
Health and disaster risk management in IndiaChapter 11 in Public Health and Disasters - Health Emergency and Disaster Risk Management in Asia.
Diagnosing and overcoming sustained food price volatility: Enabling a National Market for FoodWorking paper, National Institute of Public Finance and Policy.
Regulating infrastructure development in indiaWorking paper, National Institute of Public Finance and Policy.
The rise of government-funded health insurance in IndiaWorking paper, National Institute of Public Finance and Policy.
Fair play in Indian health insuranceWorking paper, National Institute of Public Finance and Policy.

Business cycles

Impact of Covid-19 on the Indian Economy: An Analysis of Fiscal Scenarios Indian Public Policy Review: A Journal of Economics, Politics and Strategy (IPPR), Vol. 1, No. 1, Pages - 41-52.
Business cycle measurement in IndiaIn Business Cycles in BRICS, pages 121-152. Springer.
Measuring business cycle conditions in IndiaWorking paper, National Institute of Public Finance and Policy.
Fiscal policy cyclicality in South Asian economiesWorking paper, National Institute of Public Finance and Policy.
Dating business cycles in IndiaIndian Growth and Development Review, 2017
Where is India's Growth Headed?India Review, 2016
Financial Inclusion, Productivity Shocks, and Consumption Volatility in Emerging EconomiesThe World Bank Economic Review, 2015
Emerging Economy Business Cycles: Financial Integration and Terms of Trade ShocksWorking paper, National Institute of Public Finance and Policy, 2013
Has India emerged? Business cycle stylized facts from a transitioning economyStructural Change and Economic Dynamics, 2013
Credit constraints, productivity shocks and consumption volatility in emerging economiesWorking paper, International Monetary Fund, 2013
India on the growth turnpike: Essays in honour of Vijay L. Kelkar. Chapter 6: Stabilising the Indian business cycleAcademic Foundation, 2010
Examining the decoupling hypothesis for India Economic and Political Weekly, 2009
Business cycles in the Indian economyMargin: The Journal of Applied Economic Research, 2002

Impossible Trinity

Analysing India’s Exchange Rate Regime Working Paper, National Institute of Public Finance & Policy.
Financial shocks and Exchange Market PressureADB Economics Working Paper Series.
Internationalisation of the rupeeWorking paper, National Institute of Public Finance and Policy.
A cross-country Exchange Market Pressure (EMP) datasetJournal of Data in Brief, 2017
An exchange market pressure measure for cross country analysisJournal of International Money and Finance
Foreign Currency Borrowing by Indian Firms: Towards a New Policy FrameworkIndia Policy Forum
Did QE unleash a monetary tsunami? An exchange market pressure approachWorking paper, National Institute of Public Finance and Policy, 2013
Monetary and currency policy management in Asia. Chapter: Asia Confronts the Impossible TrinityEdward Elgar Publishing, 2012
The exchange rate regime in Asia: From crisis to crisisInternational Review of Economics and Finance, 2011
Who cares about the Chinese Yuan?Working paper, National Institute of Public Finance and Policy, 2011
Does the currency regime shape unhedged currency exposure?Journal of International Money and Finance, 2010
Testing, monitoring, and dating structural changes in exchange rate regimesComputational Statistics and Data Analysis, 2010
Why India choked when Lehman brokeIndia Policy Forum, 2010
The difficulties of the Chinese and Indian exchange rate regimesEuropean Journal of Comparative Economics, 2009
India's currency regime and its consequencesEconomic and Political Weekly, 2007
India's experience with a pegged exchange rateThe India Policy Forum, 2004

Inflation: Measurement and Analysis

Moving to Inflation Targeting. Working Paper, National Institute of Public Finance & Policy.
Four years of the inflation targeting framework Working Paper, National Institute of Public Finance & Policy.
Examining the trade-off between price and financial stability in IndiaWorking paper, National Institute of Public Finance and Policy, 2019
Seasonal adjustment of Indian macroeconomic time-seriesWorking paper, National Institute of Public Finance and Policy, 2016
Monetary policy analysis in an inflation targeting framework in emerging economies: The case of India Working paper, National Institute of Public Finance and Policy, 2014
How should inflation be measured in India?Economic and Political Weekly, 2011
Monetary policy transmission in an emerging market setting Working paper, International Monetary Fund, 2011
How should inflation be measured in India?Economic and Political Weekly, 2011
Early warnings of inflation in IndiaEconomic and Political Weekly, 2008

Globalisation of firms

Exporting and firm performance: Evidence from IndiaIndian Growth and Development Review.
The investment technology of foreign and domestic institutional investors in an emerging marketJournal of International Money and Finance, 2013
Graduating to globalisation: A Study of Southern multinationalsIndian Growth and Development Review, 2013
Foreign Investors under Stress: Evidence from IndiaInternational Finance, 2013
Learning by exporting: Evidence from IndiaWorking paper, Asian Development Bank, 2013
Determinants of trade misinvoicingOpen Economies Review, 2012
Export versus FDI in servicesThe World Economy, 2012
Foreign shareholding: A decomposition analysisApplied Financial Economics, 2011

Globalisation and impact of capital controls

Motivations for capital controls and their effectivenessInternational Journal of Finance and Economics (Early View).
Savings and capital formation in IndiaIn Grasping greatness. Penguin, (forthcoming).
Motivations for capital controls and their effectivenessInternational Journal of Finance and Economics (Early View).
Foreign investment in the Indian Government bond marketWorking paper, National Institute of Public Finance and Policy
Did the Indian capital controls work as a tool of macroeconomic policy?IMF Economic Review, 2012
Encyclopaedia of Financial Globalization. Chapter: India's financial globalisationElsevier, 2011
Managing capital flows: The search for a framework. Chapter 9: The case of IndiaA joint publication of the Asian Development Bank Institute and Edward Elgar Publishing, 2010
Capital controls and capital flows in emerging economies: Policies, practices and consequences. Chapter 13: India's experience with capital flows: The elusive quest for a sustainable current account deficitThe University of Chicago Press, 2007

Financial Sector Reforms

Financial Sector Reforms in IndiaWorking paper, National Institute of Public Finance and Policy.
How much equity capital should a central bank hold?Working paper, National Institute of Public Finance and Policy.
How to Modernise the Working of Courts and Tribunals in IndiaWorking paper, National Institute of Public Finance and Policy.
Impact of tax breaks on household financial saving in IndiaIndia Policy Forum.
Legislative strategy for setting up an independent debt management agencyNUJS Law Review, 2017.
Fundamental Redesign of Financial Law: The Indian ApproachIndia Review, 2015
Reforming India's Financial SystemPolicy brief, Carnegie Endowment for International Peace, 2014
Getting India Back on Track: An Action Agenda for Reform. Chapter 1: Maintaining Macroeconomic StabilityCarnegie Endowment for International Peace
New Thinking on Corporate Bond Market in IndiaWorking paper, National Institute of Public Finance and Policy, 2012
Financial Sector in India: Time for a Second Wave?Working paper, OECD Economics Department, 2011
Interest Rate Volatility and Risk in Indian BankingWorking paper, International Monetary Fund, 2004