This Tenth Nani A. Palkhivala Memorial lecture lecture centres around the role and responsibility of a central bank in a democratic structure. Central banks make macroeconomic policy that influences the everyday life of people; yet they are managed by unelected officials appointed by the...

The Benefits of Climate Change Policies provides an overview of the state-of-the-art in assessment of the global benefits of climate change policies. It includes recent analyses and viewpoints from well-known scientists and policy analysts, including John Callaway (UNEP Risoe Centre), Henry...

The nature of the financial turbulence that happened recently in US and Europe, why it happened, where it happened, and the implications for central banks. Some of the forces that led up to and characterized the recent spate of events, the specific responses of central banks and some challenges...

The paper attempts to analyse the emerging contours of regulation of financial institutions with an emphasis on the emerging challenges and dynamics. [Paper prepared for Financial Stability Review of Bank of France].

The trends in food inflation over the past 60 years are given. Having thus set the context, the factors driving structural food inflation, which should give us a perspective of the underlying dynamics and the nature of the challenge are also brought out. The policy measures for addressing the...

Presentation shows the global financial crisis, the difference between US, Europe and India, RBI’s policy response and impact, lessons from the crisis, medium-term issues and challenges. [Speech delivered at London Business School].

An overview of domestic and global macroeconomic developments [Valedictory address at the High Powered Macroeconomic Workshop organised by the State Bank of India].