Two agendas of the heterodox economics programme; the stock-flow consistent models pioneered by Wynne Godley, and the monetary circuit approach researched in France and Italy are discussed. The objective is to present a coherent account of two innovations in payments mechanisms: deposit-creating...

This note is intended as a brief guide on how the budget papers are organised, and how to find the exact information that a reader wants (expenditure on a particular scheme of interest, or total budget allocation of a ministry, for instance). The Budget papers are accompanied with a Key to the...

Budget presented to Municipal Commissioner

The Financial Crisis of 2007-2008 and the Great Recession of 2007-2009 are now in the past. Again there was the debt crisis of 2010-11. During the worst of the recent financial crisis/Great Recession many observers made comparisons between that event and the Great Depression. The lecture...

This paper attempts to examine technical efficiency and productivity performance of Indian scheduled commercial banks, for the period 1979-2008. A model is constructed using multiple output/multiple input technology production frontier using semiparametric estimation methods. The endogenity of...