This paper accepts Rodrik’s premise that globalization and associated changes have increased the urgency of developing social safety nets to: Cushion transition; Help maintain legitimacy of reform, and help avoid backlash against reforms. India’s calibrated globalization thus...

The long-run discount factor for a group of developed and developing countries is estimated through standard methodology incorporating adaptive expectations of inflation. In the second part, while considering a standard Euler equation for household's intertemporal consumption, the parameter of...