Improving tax revenues in the emerging markets: A Laffer curve analysis. [with Snigdha Kalra (IGIDR)]. Economic Inquiry, 64(4), 1458–1492. Accepted Version [Replication Package]
Uncertainty shocks and monetary policy rules in a small open economy (2025). Macroeconomic Dynamics, Vol. 57 , 2025 , e18. [Replication Package]
Inefficient Shocks and Optimal Monetary Policy (2024). Economic Modelling, Volume 135, 106720. [Replication Package]
The Role of Socioeconomic Status in Shaping Macroeconomic Beliefs of Indian Households. (2022). With Vidya Kamate (RBI), Economic and Political Weekly, Vol. 57, Issue No. 29, 16 July 2022.
An alternate to survey methods to measure work from home. (2021). With Mohit Sharma (CORD) and Xavier Estupinan (ILO). Economic and Political Weekly, Vol. 56, Issue No. 18, 01 May 2021. [Supplementary Files] [PDF] [Spanish Version]
Impact of COVID-19 Pandemic on Labor supply, Wages and Gross Value Added in India. (2020). With Xavier Estupian (ILO), Mohit Sharma (CORD) and Bharti Birla (ILO). The Indian Economic Journal, 68(4), 572-592. DOI link] [PDF: Accepted Version] [Technical Appendix] [Spanish Version] . Media/ Policy Coverage: Times of India Economic Survey (2020-21)
Terms of Trade Shocks and Monetary Policy in India. (2018). With Chetan Ghate (ISI Delhi) and Debdulal Mallick (Deakin University). Computational Economics, Vol. 51, Issue 1, January 2018, pages 75-121. [Dynare Code]. Related publication: LiveMint article IGC Blog
CBDC and Monetary Policy Transmission: Why Household Heterogeneity Matters [jointly with Ankita Mandal (IGIDR)], SSRN Working Paper 7582219
Summary: This paper studies how a Central Bank Digital Currency (CBDC) affects monetary policy transmission in advanced economies (AEs) and emerging market and developing economies (EMDEs). We use a two-agent New Keynesian model with active Ricardian households, who hold deposits, bonds and risky assets, and passive Ricardian households, who hold only deposits, together with banks that have market power over deposit and lending rates. Because active Ricardian households make up about two thirds of households in our AE calibration but only about a sixth in our EMDE calibration, CBDC weakens the deposit, bank lending, asset price and wealth channels of monetary policy in AEs and strengthens them in EMDEs. Even a moderate transaction charge on deposits raises CBDC uptake. CBDC also increases the volatility of output, investment and inflation in EMDEs, while reducing it in AEs.
Do Deposits Leave the Bank? Household Heterogeneity and the Deposit Channel of Monetary Policy [jointly with Subhdeep Halder (ISI-Delhi; NYU Abu Dhabi) Working Paper to be released soon
Will digitisation of tax payments shift the Laffer curve? [jointly with Snigdha Kalra (IGIDR)]. Working Paper to be released soon
Spatial Liquidity for HANK. [jointly with Suranjana Kundu (Azim Premji University)]
Green Monetary Policy. [jointly with Chetan Ghate (ISI-Delhi), Mamata Kumari (ISI-Delhi), Debdulal Mallick (Deakin University)]
Structural Estimation of Monetary Policy Transmission and Inflation Targeting in India. [Jointly with Nirupama Kulkarni (CAFRAL)]
Macroeconomic Beliefs and Electoral Dominance [jointly with Anuradha Saha (Ashoka University)]