Working paper

International Spillovers from US Monetary Policy Uncertainty to Asset Prices, with Kanda Naknoi

Living with the tides? Global spillovers from US monetary policy uncertainty

Does US Monetary Policy Uncertainty Affects Cross-border Banking Flows? with Kanda Naknoi


Work on Nepal's economy

Is India's inflation driving Nepal's inflation?

Exchange Rate Pass-Through in Nepal with Anil Lama, K.P. Prabhesh and Sona Rana


Selected Staffs Studies I lead or involved in the NRB

“Problems and Solution Measures for Nepal’s Microfinance Sector” 2023. Published Report of the High-Level Committee formed by Nepal Rastra Bank. I worked as a member secretary for the committee, and lead the Technical Team for the Report.

“The degree of exchange rate misalignment and its impact on economic growth in Nepal” 2023. Study report supervised (Unpublished)

“Modeling and forecasting currency demand in Nepal” 2022. NRB Special Study (Unpublished)

Private sector credit growth and its impact upon real sector in the Nepalese economy” 2022. Study completed under 2022 BOK Knowledge Partnership Program with Nepal (Published)

“Analyzing Nepal’s Credit Cycle” 2022. Policy Paper (Unpublished)

“Anatomy of Nepal’s Current Account Deficit” 2021. Policy Paper(Unpublished)

“Nowcasting Nepal’s GDP” 2021. Policy Paper(Unpublished)

Potential Output and Output Gap in Nepal, 2017, Lead the Technical Team for the report, and published as working paper.

“Review of Nepalese Monetary Policy Framework,” 2016. Study Report(Unpublished)

“Modernizing Operating Procedure of Nepalese Monetary Policy,” 2016. Policy Paper(Unpublished)

“Revisiting Exchange Rate Policy of Nepal,” 2014. Study Report(Unpublished)

“Spillover of US Monetary Policy in Emerging Markets: Implications for Nepal,” Country Paper prepared for SAARC Finance Governors’ Symposium, India, 2014.

“Impact of EU Debt Crisis in South Asia: Nepal’s Experiences,” Country Paper prepared for SAARC Finance Governors’ Symposium, Pakistan, 2013.

“”Feasibility of Capital Account Convertibility in Nepal,” 2013. Study Report (Unpublished)

Works prior to Phd

Works  Prior to Phd on Nepalese Economy

Budha, Birendra (2014). The Role of Expenditure Components in Nepal's Imports from India. South Asia Economic Journal, Vol. 15, No. 1.

Budha, Birendra (2011). Budha, Birendra (2011). A Multivariate Analysis of Savings, Investment and Growth in NepalThe Economic Journal of Nepal, Vol. 34, No. 3.

Pant, Bhubanesh, Budha, Birendra (2016). Remittance and Exchange Rate Linkages: Experiences of Nepal. NRB Working Paper.

Budha. Birendra (2015).  Monetary Policy Transmission in Nepal. NRB Working Paper 29

Budha, Birendra (2013). The Bank Lending Channel of Monetary Policy in Nepal: Evidence from Bank Level Data. NRB Economic Review, Vol. 25, No. 2 .

Budha, Birendra (2013). Demand for Money in Nepal: An ARDL Bounds Testing Approach. NRB Economic Review, Vol. 25. No. 1.