Planning Unit -> Faculty
I am an applied macroeconomist with a research focus on economic fluctuations and growth. I have a long standing interest in endogenous growth theory.
I am also interested in Indian macroeconomic problems. I am currently working on a monetary business cycle model for India, a model of employment targeting, and in the broad area of optimal fiscal policy in small open emerging market economies. I am currently a Professor at the Indian Statistical Institute - Delhi Centre - where I have been teaching since 2003.
Publications and Working Papers
Monetary and Fiscal Policy in Developing and Emerging Market Economies
The Indian Macroeconomy
- Employment Targeting. With Debojyoti Mazumder (IIM Indore). Work in Progress
- Fiscal Policy, Debt, and EME Business Cycles. With Chetan Dave (NYU - Abu Dhabi), Pawan Gopalakrishnan (Reserve Bank of India), and Suchismita Tarafdar (Shiv Nadar University). Work in Progress.
- [September 2017] A Monetary Business Cycle Model for India. With Parantap Basu (Durham), Pawan Gopalakrishnan (Reserve Bank of India), Seshadri Banerjee (MIDS Chennai), and Sargam Gupta (ISI Delhi). Mimeo, Indian Statistical Institute - Delhi.
- [Terms of Trade Shocks and Monetary Policy in India.] With Debdulal Mallick (Deakin University) and Sargam Gupta (ISI Delhi). In Press, Computational Economics
- Monetary Policy in India: A Modern Macroeconomic Perspective. (Eds.) Chetan Ghate and Ken Kletzer (UCSC). Springer Verlag: India. December 2016.
- [Fiscal Policy in an Emerging Market Business Cycle Model.] With Pawan Gopalakrishnan (ISI Delhi) and Suchismita Tarafdar (Shiv Nadar University). Journal of Economic Asymmetries. Vol. 16, November 2016, pages 52-77.
- Global Cooperation Among G20 Countries: Responding to the Crisis and Restoring Growth, (Eds.) Mike Callaghan (Lowy Institute), Chetan Ghate, Stephen Pickford (Chatham House), and Francis Rathinam (DFID). Springer Verlag: India. January 2014.
Endogenous Growth Theory
- Trade Liberalization and Labor Share in Value Added. Evidence from Indian States. With Prema-chandra Athukorala (Australian National University). Work in Progress.
- [Sectoral Infrastructure Investment In An Unbalanced Growing Economy: The Case of Potential Growth in India]. With Gerhard Glomm (Indiana Univ.) and Jialu Liu Streeter (Allegheny College). Asian Development Review, Vol. 32 (2), September 2016, pages 144-166. Special Issue on Potential Growth and Misallocation in Asia, (Ed.) Miguel Leon-Ledesma.
- [Remoteness, Urbanization and India's Unbalanced Growth.] With Peter Robertson (University of Western Australia) and Samarjit Das (ISI Calcutta). World Development, Vol. 66, February 2015, pages 572-587.
- [February 2015] [Public and Private Expenditures on Human Capital Accumulation in India.] With Gerhard Glomm (Indiana) and John T. Stone III (Indiana University). UNU-WIDER Working Paper Paper 2015-24.
- [Has India Emerged? Business Cycle Stylized Facts from a Transitioning
Economy.]. With Radhika Pandey (NIPFP) and Ila Patnaik (NIPFP). Structural Change and Economic Dynamics, Volume 24, Issue 1, March 2013, pages 157-172.
- [Why were some Indian states so slow to participate in the Turnaround?] With Stephen Wright (Birkbeck College). Economic and Political Weekly, March 30, 2013, Vol. XLVIII No. 13 (Special Article)
- [The "V Factor": Distribution, Timing, and Correlates of the Great Indian Growth Turnaround]. With Stephen Wright (Birkbeck College). Journal of Development Economics, Volume 99, Issue 1, September 2012, pages 58-67.[Web Appendix]
- The Oxford Handbook of the Indian Economy. Oxford University Press, New York. March 2012.
- [India's Growth Turnaround], With Stephen Wright (Birkbeck) and Tatiana Fic (NIESR) In The New Oxford Companion to Economics in India, Eds. Kaushik Basu and Annemie Maertens, Oxford University Press, February 2012, p. 316-322.
- [Understanding Divergence in India: A Political Economy Approach]. Journal of Economic Policy Reform, Volume 11, Issue 1, March 2008, pages 1-9.
Chapters in Edited Volumes and Contributions to Technical Reports
- [Factor Income Taxation, Growth, and Investment Specific Technological Change.] With Pawan Gopalakrishnan (ISI Delhi) and Monisankar Bishnu (ISI Delhi). Economic Modelling, Volume 57, September 2016, pages 133-152.
- [Voting, Wealth Heterogeneity, and Endogenous Labor Supply]. FinanzArchiv/Public Finance Analysis, Volume 63, Issue 4, December 2007, pages 477-497.
- [Education, Growth, and Redistribution in the Presence of Capital Flight]. With Debajyoti Chakrabarty and Areendam Chanda,
Topics in Macroeconomics (The B.E. Journals in Macroeconomics), Volume 6, Issue 2 (Article 14), November 2006, pages 1-41.
- The Welfare State, Thresholds, and Economic Growth. With Tatiana Fic,
Economic Modelling, Volume 22, Issue 3, May 2005, pages 571-598.
- Endogenous Distribution and Equilibrium Growth: A Note. Bulletin of Economic Research, Volume 57, Issue 2, April 2005, pages 171-183.
- [Endogenous Distribution, Politics, and the Growth Equity Tradeoff]. With Satya P. Das,
Contributions to Macroeconomics (The B.E. Journals in Macroeconomics) , Volume 4, Issue 1 (Article 6), July 2004, pages 1-30.
- Reprinted in: Studies in Macroeconomics and Welfare, 2005, Eds. B.B. Bhattacharya and Arup Mitra, Academic Foundation Press Press, p. 223-250.
- [Optimal Fiscal Policy in an Economy Facing Socio-Political Instability]. With Quan Vu Le and Paul J. Zak,
Review of Development Economics, Volume 7, Issue 4, November 2003, pages 583-595.
- The Politics of Endogenous Growth. Topics in Macroeconomics (The B.E. Journals in Macroeconomics), Volume 3, Issue 1 (Article 9), August 2003, pages 1-20.
- [The Growth of Government and the Politics of Fiscal Policy]. With Paul J. Zak,
Structural Change and Economic Dynamics, Volume 13, Issue 4, December 2002, pages 435-455.
- Lobbying, The Composition of Government Expenditures, and the Politics of Fiscal Policy. Australian Economic Papers, Volume 40, Issue 2, June 2001, pages 133-145.
Book Reviews and Shorter Pieces
- [Introduction (Chapter 1)] Monetary Policy in India: A Modern Macroeconomic Perspective.. With Ken Kletzer (UCSC). Springer Verlag: India. December 2016.
- Reserve Bank of India Expert Committee to Revise and Strengthen the Monetary Policy Framework , January 2014.
- [Introduction (Chapter 1)] Global Cooperation Among G20 Countries: Responding to the Crisis and Restoring Growth. With Mike Callaghan, Stephen Pickford, and Francis Rathinam. Springer Verlag: India. January 2014, pages 1 - 21.
- Introduction (Chapter 1)] , The Oxford Handbook of the Indian Economy. Oxford University Press, New York. March 2012, pages 1 - 29.
- [The Time Inconsistency Problem.] In The Princeton Encyclopedia of the World Economy, Eds. Ramkishen Rajan and Kenneth Reinert, Princeton University Press. February 2009, pages 1091-1093.
- Book Review for "The Political Economy of India's Growth Episodes", by Kunal Sen and Sabyasachi Kar. Palgrave Macmillian, September 2016. Invited by the Economic and Political Weekly. In Progress.
- Short Piece on International Growth Centre (IGC) Blog, The inflationary impact of the grain procurement policy in India, May 2017
- Ideas for India entry on Are Grain Procurement Shocks Inflationary ? October 2016.
- Short Piece on International Growth Centre (IGC) Blog, India: Chasing the Dragon ?, March 2015
- Ideas for India entry on Understanding Indias Unbalanced Growth, February 2014
- Book Review for [India Emerging: The Reality Checks] By Veena Jha, Academic Foundation (2012), New Delhi. The Book Review, Volume 37 (10), October 2013, pp. 57 - 58.
- Book Review for "Dimensions of Economic Theory and Policy", (Eds.) Dastidar, K., Mukhopadhyay, H., and Sinha, U.B., Oxford University Press (2011), New Delhi. The Book Review, Volume 37 (8), August 2013, pp. 17 - 18.
- [Calibrating RBC Models: A Simple Example Illustrating the Method of Successive Aproximations]. Indian Growth and Development Review, Volume 1, Issue 1, May 2008, pages 119-124.
- Comment on `A Discussion on Continuous Time Growth Models' by Amitava Bose. Contemporary Ideas and Issues in Social Sciences, Vol. 3, Issue 3, December 2007, pages 1-7.
- Book Review for [Globalization and Its Enemies]. By Daniel Cohen, MIT Press, Cambridge, MA. In American Journal of Agricultural Economics, Volume 89, Issue 4, November 2007, pages 1117 - 1119.
- Book Review for [Global Capital Markets: Integration, Crisis, and Growth]. By Maurice Obstfeld and Alan Taylor, Cambridge University Press, Cambridge. In
American Journal of Agricultural Economics, Volume 88, Issue 1, February 2006, pages 272 - 274.