The study uses co-integration and vector auto-regression (VAR) techniques to identify the determinants of income velocity of money (VM) in Bangladesh, covering both narrow and broad money. The study observes that financial development affects VM negatively. The VAR estimates show that two...

The task of the Sub-committee was to review the existing methodologies for estimating the contribution of unorganized/informal sector to GDP and suggest measures to facilitate direct estimation. The Group reviewed the 'Labour input method' contained in an OECD publication titled 'Measuring the...

The Fisher's equation has become a foundation stone of modern macroeconomic, monetary and financial theories. Here it is shown that despite the estabilished status of Fisher's equation, it stands on a rather shaky foundations. URL:[http://www.gipe.ac.in/pdfs/working%20papers/wp24.pdf].

Focusing on the power sector, Wheeler estimates energy growth and incremental costs for six low-carbon energy technologies (biomass, solar, wind, geothermal, hydro, and nuclear) in 174 countries from 1990 to 2008. He finds that developing countries on average have paid a fair share of their...

A review of the various primary measures of inflation with a particular reference to the divergence between WPI and CPI. Focus is also given on different secondary (derived) measures of inflation, particularly core inflation, and end the discussion with some thoughts on the way forward. [Speech...

Part I of the Budget speech by Finance Minister