Paresh Kumar Narayan, Karan Rai, Bhavesh Garg,  Viliame Vuniivi (2026). Temperature Shocks, Renewable Energy Transition and Inflation in Island Economies. Economic Analysis and Policy, 94, December 2026, 596-608. 

Karan Rai and Bhavesh Garg (2026). Energy Shocks and Current Account Balance: Evidence From Oil-Importing Economies. Asian Economics Letters, 7, 2. 

August Letlet, Karan Rai and Bhavesh Garg (2026). AGE STRUCTURE AND INFLATION DYNAMICS IN PACIFIC ISLAND ECONOMIES. Bulletin of Monetary Economics and Banking, 29(1), 1-20. 

Karan Rai and Bhavesh Garg (2025). Demographic transition and financial assets. Emerging Markets Review, 101340. 

Karan Rai and Bhavesh Garg (2025). Macroeconomic Impact of Demographic Transition and Effectiveness of Monetary Policy: Evidence from East Asian Economies. Emerging Markets Finance and Trade, 61(12), 3742-3766. 

Karan Rai and Bhavesh Garg (2024). Demographic transition and inflation. Economic Systems, 48(4), 101214. 

Bhavesh Garg, Karan Rai, Rishabh Pachoriya and Manik Thapa (2023) CRISIS AND CONTAGION IN CRYPTOCURRENCY MARKET, Bulletin of Monetary Economics and Banking, 26, 9-32. 

Karan Rai and Bhavesh Garg (2022) 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.

Demographic transition: India can reap rich dividends with right policy focus (with Dr. Bhavesh Garg) - The Hindu Businessline. December 20, 2022