Publications

2025

Demographic Transition and Financial Assets. Emerging Markets Review (in press) [with Karan Rai]

Change point analysis in data with heavy tails: a Normal Inverse Gaussian approach. Economics Letters, 254, 112477. [with Meenu Rani and Arun Kumar]

Macroeconomic impact of demographic transition and effectiveness of monetary policy: evidence from East Asian economies. Emerging Markets Finance and Trade, 61:12, 3742-3766. [with Karan Rai]

Policy Effectiveness in Mitigating Pandemic-Induced Macroeconomic Impacts: Evidence from Large Net Oil Importers of Asia. Emerging Markets Finance and Trade, 61:2, 493-515.

2024

Transition to a green economy, oil prices and the current account. Energy Economics, 139, 107916. [with S. M. Juhro, Paresh K. Narayan, & D. F.  Anugrah]

How are green stocks and monetary policy related?. Pacific-Basin Finance Journal, 87, 102516. [with Paresh K. Narayan, Iman Gunadi, & Arnita Rishanty]

Policy Effectiveness in Mitigating Pandemic-Induced Macroeconomic Impacts: Evidence from Large Net Oil Importers of Asia. Emerging Markets Finance and Trade [in press]

Demographic transition and inflation, Economic Systems [in press]  (with K. Rai)

Do different credit flows affect the current account differently? Evidence from emerging economies, Emerging Markets Finance and Trade, 60:10, 2190-2203. (with H. Paranavithana)

2023

Are gross financial inflows expansionary or contractionary? Evidence from emerging economies, Finance Research Letters, 58, 104329. (with P. Sahoo)

Identifying Efficient Policy Mix Under Different Targeting Regimes: A Tale of Two Crises. Economic Analysis and Policy, 78, 975-995. (with S.A. Shah)

Fresh evidence on the oil-stock interactions under heterogeneous market conditions. Finance Research Letters, 54, 103726. (with K.B. Chowdhury)

Crisis and contagion in cryptocurrency market. Bulletin of Monetary Economics and Banking, 26, 9-32. (K. Rai, R. Pachoriya and M. Thapa)

Testing policy effectiveness during COVID-19: an NK-DSGE analysis. Journal of Asian Economics, 84, 101577. (with S.A. Shah)

2022

Has COVID-19 intensified the oil price – exchange rate nexus? Economic Analysis and Policy, 76, 280-298. (with Kushal Banik Chowdhury)

Is Indonesia's Current Account Balance Optimal? Evidence from an Intertemporal Approach. Bulletin of Monetary Economics and Banking, 25, 1-18. (with Prabheesh K.P.)

Dynamic correlations and volatility spillovers between stock price and exchange rate in BRIICS economies: evidence from the COVID-19 outbreak period. Applied Economics Letters, 29:8, 738-745 (with Karan Rai)

2021

The nexus between the exchange rates and interest rates: Evidence from BRIICS economies during the COVID-19 Pandemic. Studies in Economics and Finance, 2021. 38(2), 469-486.   (with Prabheesh K.P.)

Testing the intertemporal sustainability of current account in the presence of endogenous structural breaks: Evidence from the top deficit countries. Economic Modelling, 2021, 97, 365-379. (with Prabheesh K.P.) 

Testing deviations from PPP and UIP: evidence from BRICS economies. Studies in Economics and Finance, 2021, 38(2), 384-399. (with Prabheesh K.P.) 

2020

Time-varying dependence between stock market and oil prices during COVID-19: The case of net oil-exporting countries. Economics Bulletin, 2020, 40(3), 2408-2418.  (with K.P. Prabheesh and R. Padhan)

COVID-19 and the oil price–stock market nexus: Evidence from net oil-importing countries. Energy Research Letters, 2020, 1(2), 13745.   (with K.P. Prabheesh and R. Padhan) 

2018

External shocks, consumption-smoothing and capital mobility in India: evidence from an intertemporal optimization approach, Applied Economics, 2018, 50:45, 4814-4829 (with Prabheesh K.P.)                         [supplemental]

Capital-enhanced Equilibrium Exchange Rate: evidence from India, Applied Economics Letters, 2018, 25:19, 1393-1397 (with Prabheesh K.P.)

2017

Drivers of Current Account deficits in India, with implications for ameliorating them, Journal of Asian Economics  2017, 51, 23-32 . (with Prabheesh K.P.) 

2015

Causal Relationships between the current account and the capital account: an empirical investigation from India, Applied Economics Letters , 2015, 22:6, 446-450. (with Prabheesh K.P.) 

Why India needs stable capital flows - The Indian Express. February 28, 2023.

Demographic transition (with K. Rai) - The Hindu Business Line. December 21, 2022.

Urgently needed: AG-20 joint efforts (with P. Sahoo) - Deccan Herald. March 29, 2020.

A silver lining for Indian economy (with P. Sahoo) - Financial Express. March 12, 2020.

What the US monetary tightening means for India (with Pravakar Sahoo) - FINANCIAL EXPRESS, June 26, 2018.

Moody's upgrade (with Pravakar Sahoo) - FINANCIAL EXPRESS, November 23, 2017.

Does India get the credit it deserves? (with Pravakar Sahoo) - EAST ASIA FORUM, July 1, 2017.

Challenge to insulate masses from inflationary pressure (with Pravakar Sahoo) - DECCAN HERALD, May 28, 2017.

India’s current credit rating does not reflect the stability of the economy (with Pravakar Sahoo) - HINDUSTAN TIMES, May 16, 2017.

Overall, Trump’s policies to impact India minimally (with Prabheesh K.P.) - DECCAN HERALD, March 9, 2017.

Why the Indian economy needs a fiscal stimulus (with Pravakar Sahoo) - FINANCIAL EXPRESS, January 25, 2017.

Demonetisation: A mounting problem for banks (with Pravakar Sahoo) - FINANCIAL EXPRESS, December 27, 2016.

Donald Trump and Road Ahead (with Pravakar Sahoo) - THE PIONEER, December 16, 2016.

Note ban: informal, unorganised sectors to take massive hit (with Prabheesh K.P.) - DECCAN HERALD, November 30, 2016.