Research

Macroeconomics & Applied Econometrics

1. 1. "Capital Controls in India and China and Their Spill-over Effects on Other Emerging Market Economies"  (Under Review) (With Richa Jain) 

   2. "Fiscal Rules and Economic Growth: Evidence from Advanced and Emerging Market Economies", (Under Review) (With Yashika Sardana)

   3. "The Power of Central Bank ‘Talk’: A Text-Mining Exploration of Two Decades of RBI Speeches", (Revise and Resubmit) (With Kanupriya Madan) 

   4. "Re-Exploring the Environment Quality and Fiscal Spending Nexus through New Non-Linear Channels", (Revise and Resubmit) (With Gurleen Kaur Malhotra)

   5. "Fiscal Shocks and Subnational Government Finances: Evidence from Indian States",  (Revise and Resubmit) (With Abhishek Singh)

   6. "Transition of Sub-National Fiscal Multiplier across Structural Characteristics – Evidence from Indian States", Applied Economics, (Forthcoming) (With Mahima Gupta) [Taylor and Francis] (https://doi.org/10.1080/00036846.2025.2542569)

   7. "The Impact of Restrictive Monetary Policy in Emerging Countries", Structural Change and Economic Dynamics, 2025, 74, 915-927 (With Akanksha Mishra) [Elsevier] (https://doi.org/10.1016/j.strueco.2025.06.016)

   8. "Dynamic Treatment Effect of Capital Controls on Macroeconomic and Financial Stability in Emerging Market Economies", Empirical Economics, 2025, 68, 963-999  (With Richa Jain)  [Springer] (https://doi.org/10.1007/s00181-024-02672-2)

   9. "Increasing Taxes on ‘Bads’ and Reducing them on ’Goods’: A Double Dividend Hypothesis of Carbon Taxation", Journal of Policy Modeling, 2025, 47(1), 118-133 (With Gurleen Kaur Malhotra) (https://doi.org/10.1016/j.jpolmod.2024.11.002)

   10. "Tracing the Literature on Central Bank Communication: A Bibliometric Review", Bulletin of Monetary Economics and Banking, (Forthcoming) (With Kanupriya Madan)  [Bank Indonesia]

   11. "Implication of Global Financial Cycle for Emerging Market Economies: Evidence from India", IIMB Management Review, 2025, 37(2), 100575 (With Vrinda Gupta) [Elsevier] (doi.org/10.1016/j.iimb.2025.100575)

   12. "Structural Characteristics and Non-linear Fiscal Multipliers", Economic Systems, 2025, 49(1), 101247 (With Mahima Gupta) [Elsevier] (https://doi.org/10.1016/j.ecosys.2024.101247)

   13. "Do Capital Controls Absorb Global Financial Shocks? Evidence from Emerging Market Economies", International Review of Applied Economics, 2025, 39(1), 21-46 (With Richa Jain) [Taylor and Francis] (https://doi.org/10.1080/02692171.2024.2382106)

   14. "Differential Impact of Money Growth on Inflationary Outcomes: Evidence from Emerging Markets Using Panel NARDL Approach", Journal of Economic Studies, 2025, 52(3), 549-565 (with Aakanksha Shrawan) [Emerald] (https://doi.org/10.1108/JES-12-2023-0716)

   15. "US Monetary Policy, the Global Financial Cycle and Cross-Country Financial Cycles", Journal of Economics and Finance, 2024, 48, 999-1019 (With Vrinda Gupta) [Springer] (https://doi.org/10.1007/s12197-024-09680-z)

   16. "Impairment of Monetary Policy Independence by Global Financial Cycles and the Mitigating Role of Macroprudential Policies", Applied Economics, 2023, 56(44), 5249–5262 (With Vrinda Gupta) [Taylor and Francis] (https://doi.org/10.1080/00036846.2023.2244250)

   17. "Anticipation of Central Banks' Adoption of Inflation Targeting and its Effect on Inflation", Central Bank Review, 2023, 23(2),100118 (With Akanksha Mishra) [Elsevier] (https://doi.org/10.1016/j.cbrev.2023.100118)

   18. "Are Macroprudential Policy Instruments Effective? Evidence Using Difference-in-Difference Approach with Heterogeneous Treatment Effects", Applied Economics Letters, 2023, 31(18), 1791–1803 (With Vrinda Gupta) [Taylor and Francis] (https://doi.org/10.1080/13504851.2023.2206991)

   19. "Inflation Targeting and Price Behaviour: Evidence from India", Indian Economic Review, 2022, 57, 265–284 (With Juhi Lohani) [Springer] (https://doi.org/10.1007/s41775-022-00148-7)

   20. "Dynamics of Structural Transformation and Business Cycle Synchronization: A Panel Quantile Regression Approach for India", Applied Economics, 2022, 55(52), 6170–6186 (with Aakanksha Shrawan) [Taylor and Francis] (https://doi.org/10.1080/00036846.2022.2141461) 

   21. "Inflation Targeting and Its Spillover Effects on Financial Stability in Emerging Market Economies", Journal of Policy Modeling, 2022, 44(6), 1198-1218 (With Akanksha Mishra) [Elsevier] (https://doi.org/10.1016/j.jpolmod.2022.10.003)

   22. "A Reassessment of the Relationship Between Services and Economic Growth in Low-income and Lower-middle Income Countries: A Non-linear Approach", Applied Economics, 2022, 54:33, 3795-3810 (with Aakanksha Shrawan) [Taylor and Francis]  (https://doi.org/10.1080/00036846.2021.1990847)

   23. "Spectral Envelope: An Application to the Decoupling Problem in Economics”, Journal of Quantitative Economics, 2021,19, 287–308 (with D. M. Nachane) [Special issue in honour of Late Prof. A. L. Nagar. Guest Editors: Yong Bao and Aman Ullah] [Springer]  (https://doi.org/10.1007/s40953-021-00272-w)

   24. "Technology Intensive Trade and Business Cycle Synchronisation: Evidence from a Panel Threshold Regression Model for India", The Journal of International Trade & Economic Development, 2021, 30(6), 906–929 (with Aakanksha Shrawan) [Taylor and Francis] (https://doi.org/10.1080/09638199.2021.1918224)

   25. “India in the Globalized Economy: Growth Spillovers & Business Cycle Synchronization”, International Economics and Economic Policy, 2018, 15(1), 89-115 (with D. M. Nachane) [Springer] (https://doi.org/10.1007/s10368-016-0367-x)

   26. “Time Scales, Wavelet Realized Volatility and Jump Variation: An Empirical Investigation for India”, Journal of Quantitative Economics, 2015, 13(1), 113-127 [Springer] (https://doi.org/10.1007/s40953-015-0007-2)

   27. “Instability and Time Scale Dependence of Beta in An Emerging Market Economy: Evidences from India”, Vikalpa, Jan –March 2014, 39(1), 41-55 [Sage] (https://doi.org/10.1177/0256090920140103)

   28. “Trend and Cyclical Decoupling: New Estimates Based on Spectral Causality Tests and Wavelet Correlations”, Applied Economics, 2013, 45(31), 4383-4392 (with D. M. Nachane) [Taylor and Francis] (https://doi.org/10.1080/00036846.2013.788781)

   29. “The Vanishing Role of Money in the Macroeconomy: An Empirical Investigation for India” Economic Modelling, 2011, 28(3), 859-869 (with D. M. Nachane) [Elsevier] (https://doi.org/10.1016/j.econmod.2010.10.019)

  Environment and Climate Change

1. 30. "Implications of CMIP6 Models-based Climate Biases and Runoff Sensitivity on Runoff Projection Uncertainties over Central India", International Journal of Climatology (forthcoming) (With Shoobhangi Tyagi, S. K. Mishra, Sandeep Sahany, Dharmendra Saraswat and Dev Niyogi) [Wiley] (https://doi.org/10.1002/joc.8661)

   31. "Assessing Regional-scale Heterogeneity in Blue-Green Water Availability under 1.5 Degree Celsius Global Warming Scenario", Journal of Applied Meteorology and Climatology (forthcoming) (With Shoobhangi Tyagi, S. K. Mishra, Sandeep Sahany, Dharmendra Saraswat and Dev Niyogi) [American Meteorological Society] (https://doi.org/10.1175/JAMC-D-23-0083.1) 

   32. "Can Renewable Energy Drive Industrial Growth in Developing Economies? Evidence from India", International Journal of Energy Sector Management, (Forthcoming) (With Kausik Dey and Seema Sharma) [Emerald] (http://dx.doi.org/10.1108/IJESM-09-2021-0016) 

   33. "Concerns of Developing Countries and the Sustainable Development Goals: Case for India", International Journal of Sustainable Development and World Ecology, 2021, 28(4), 303–315 (With Ahmad Khalid and Seema Sharma) [Taylor and Francis] (https://doi.org/10.1080/13504509.2020.1795744)

   34. “Data Gap Analysis, Indicator Selection and Index Development: A Case for Developing Economies”, Social Indicators Research, 2020, 148, 893–960  (With Ahmad Khalid and Seema Sharma) [Springer] (https://doi.org/10.1007/s11205-019-02225-6 ) 

   35. "Some Methodological Issues in India’s SDG Index Report 2019", Economic and Political Weekly, 2020, 55(3233), 29–31 (With Ahmad Khalid and Seema Sharma)  

   36.  “Developing an Indicator Set for Measuring Sustainable Development in India”,  Natural Resources Forum (A United Nations Sustainable Development Journal), 2018, 42, 185-200 (With Ahmad Khalid and Seema Sharma) [Wiley] (https://doi.org/10.1111/1477-8947.12151) 

   37. “Initial Allocation of Emissions Permits in Two Sided Matching Framework”, Journal of Quantitative Economics, 2010, New Series 8(1), 95-104 [Springer] 

Education & Entrepreneurship 

1. 38. “Critical Success Factors For Next Generation Technical Education Institutions”, Benchmarking, 2021, 28(5), 1605–1621  (With Smita Kashiramaka, Mahim Sagar and Amit Mehndiratta) [Emerald] (https://doi.org/10.1108/BIJ-06-2018-0176)

   39. “Reforms in Technical Education Sector: Evidence from World Bank Assisted Technical Education Quality Improvement Programme in India”, Higher Education, 2019, 78(2), 273-299 (With Amit Mehndiratta, Mahim Sagar and Smita Kashiramaka) [Springer] (https://doi.org/10.1007/s10734-018-0343-1)

   40. "Family-owned Enterprises and Their Role in Entrepreneurial Development: A Bibliometric and Content Analysis of the Literature", Journal of Asia Business Studies, 2022, 16(5), 802–832 (with Rishi Kant Kumar) [Emerald] (https://doi.org/10.1108/JABS-02-2021-0062)

   41. "The Role of Governance in Solving the Problems of SMEs: A Review of the Literature Using a Systematic Approach" International Journal of Electronic Government Research, 2022, 18 (1), 1-26 (with Rishi Kant Kumar) [IGI Global] (https://doi.org/10.4018/IJEGR.297229)

Working papers/Other Publications

• “Spectral Envelope: An Application to the Decoupling Problem in Economics ”, June 2019, IGIDR Working Paper No. 2019-22 (with D. M. Nachane)

• “Through The Cycle VaR Framework: A Comparative Assessment of Select Models”, March 2014, IIM Indore Working Paper Series, WP/01/014/ECO

• “The Vanishing Role of Money in the Macroeconomy: An Empirical Investigation Based on Spectral and Wavelet Analysis”, October 2008, IGIDR Working Paper No. 2008-22 (with D. M. Nachane)

• “Performance of Public Sector Banks: An Econometric Analysis”, December 2007, The Indian Banker, 2(12), (with Brinda Jagirdar) [Journal of the Indian Banking Association]

Opinion

• The chimera of a costless way to keep a lid on inflation, Mint, 15 Dec 2019 (With Akanksha Mishra)  https://www.livemint.com/opinion/online-views/the-chimera-of-a-costless-way-to-keep-a-lid-on-inflation-11576419490944.html