In late March the release of data on sale of new homes in the US showed that it had dropped 10 per cent, the biggest drop in nine years. In the immediate aftermath of this report, the US currency gave up some ground against the Euro and other major currencies. Bond yields dropped and rate hike...

A closer look at the developments in 35 cities across China, looking for potential regional real estate bubbles. An assessment is done about the success of the various policies and their potential negative impact on the economy and the financial system.

The Hedonic property value method is used to estimate how a dismenity, bad odor from an open sewer system, affects housing prices in the city of Rawalpindi in Pakistan. An estimate of the benefits of converting the open system into a closed sewer system is done. [SANDEE Working Paper, No...

The Reserve Bank of India, in its Annual Policy Statement on April 28, 2005, for the year 2005-06, announced its intention to reorient government debt management operations entailing functional separation between debt management and monetary operations within RBI. This first step initiating the...

* Repo Rate increased to 7.25 per cent from 7.0 per cent. * The flexibility to conduct overnight repo or longer term repo including the right to accept or reject tender(s) under the LAF, wholly or partially is retained. * Reverse Repo Rate, Bank Rate and CRR kept unchanged. * GDP growth forecast...

The FRBM Act was reflective of the shared commitment across political parties towards fiscal conservatism. A decade later, the picture, as reflected in the Union Budget, is yet to change for the better. And given the interests that the current Government represents, a real departure from the...

Statement by Dr. Raghuram Rajan on taking office on September 4, 2013. [RBI Press release].

When analyzing the appropriate response for monetary policy during a currency crisis it is important to keep in mind two distinct channels: (a) the impact of raising interest rates on exchange rates; and (b) the direct impact of exchange rate changes on output. The first pertains to the monetary...

A brief overview is provided about India’s long-term growth performance. Then an attempt is made to set out the conditions for successful innovations. To assess the role of innovations in the Indian economy, the estimated contributions of productivity gains to real GDP growth is...

The speech tries to underline some lessones that be drawn from the financial crisis relevant to regulation, financial markets and the market infrastructure and to reflect on these. [Annual Conference of Foreign Exchange Dealers’ Association of India (FEDAI) at Kolkata].