Long writings
Publications/working papers
· Towards an effective and well-targeted interest rate policy, November 1, 2023
· Towards a well-targeted interest rae policy, 4 July, 2023.
· A macroeconomic model with price flexibility 2018, South Asian Journal of Macroeconomics and Public Finance, 7(1), 1-26.
· Adjusted Purchasing Power Parity (2017, chapter 23, In (ed.) Robert Lensink, Stefan Sjogren, and Clas Wihlborg, Paths for Sustainable Economic Development (A Festschrift for Shubhashis Gangopadhyay), S and W, Gothenberg, Sweden) [abstract]
· Land Price, Bubbles, and Permit Raj (2017, Review of Market Integration, 8(1&2), 1-33, http://journals.sagepub.com/doi/pdf/10.1177/0974929216683115)
· Possible Market for Credit Lines to Mitigate Sudden Stop: Theory and Policy (2015, South Asian Journal of Macroeconomics and Public Finance, 4(2), 205-232)
· Thinking afresh about central bank's interest rate policy, (2015, Journal of Financial Economic Policy, 7(3), 221-232)
· Overcoming zero lower bound on interest rate without any inflation or inflationary expectation 2014, South Asian Journal of Macroeconomics and Public Finance, 3(1), June, 1-38.
· Systemic Sudden Stop, Credit Lines, and Funding Liquidity , 2014, Chapter in Global Cooperation Among G20 Countries: Responding to the Crisis and Restoring Growth, edited by Michael Callaghan, Chetan Ghate, Stephen Pickford, and Francis Rathinam, Springer, India, p. 185-198. [abstract]
· Is India hedged against systemic risk? 2013, Review of Market Integration, 5(1), 83-129.
· Real estate price is reversible, 2013, Economic and Political Weekly, December 7, XLVIII(49), 66-67.
· External Account: A Role for International Credit Lines, 2012, Economic and Political Weekly, vol XLVII, Number 2, December 29.
· Banking Crisis, Liquidity, and Credit Lines – A Macroeconomic Perspective, 2012, Routledge, Abingdon (BOOK) [abstract]
· Banking Crises, and Asset Markets in Emerging Economies, 2012, LAP Lambert Academic Publishing (BOOK)
· Serious Economics and Simple Books: A Critical Review of Paul Krugman's 'End This Depression Now!', 2012, Review of Market Integration, April, 4(1), 111-130.
· Financial Stability Reports (FSR) of the Reserve Bank of India (RBI), March and December, 2010: A Critical Review with a Long-term Perspective, 2012, Margin – The Journal of Applied Economic Research 6(1), 27-46
· A review of Mohan, Rakesh, 2011, `Growth with financial stability – Central banking in an emerging economy’, Oxford Collected Essays, Oxford University Press, New Delhi, 2012. 6:3, 407-414, Margin - The Journal of Applied Economic Research
· Financial Sector Reforms, 2008, Economic and Political Weekly, September 6, vol. XLIII No. 36
· Retail Trade and Urban Policy, Economic and Political Weekly, 2004, June 5, p. 2410-2412
· Fees and Economic Background of Students: A study of University of Delhi, Journal of Educational Planning and Administration, Vol. VII, No. 4, October 1993.
Unpublished work
· Why is100% reserve banking inefficient? –Discussion Paper No. 0907, CITD, SIS, JNU
Seemingly safe banks in an emerging economy (presented at ISI, Delhi, and at IDF, Gurgaon)· Notes on Macro-financial stability
· Notes on financial development
· Internal rate of return as a meaningful measure
· The economics of interaction in an educational institution (accepted by the Indian Econometric Society)
· A primary data based study of real estate prices in Delhi, 1988 (funded by University Grants Commission, New Delhi)
· Pilot study on private educational spending in North Delhi, Feb. 1988 for The World Bank (co-authored with Dr. R. Chadha)
Work in progress
Macro-Financial Stability: A Holistic Reconsideration of Monetary, Fiscal and Regulatory Policy (PRESENTATION)
Macro-Prudential Regulation: Towards Financial Prescription (This version, September 30, 2017; Earlier drafts: March 3, 2017, and December 3, 2016)
Understanding and dealing with blatant bubbles in asset markets