The expansion of enterprise level datasets has led to the emergence of a large body of literature on patterns of employment and job dynamics across different enterprise types. In the context of India, where MSMEs have been traditionally supported and encouraged by different policy initiatives to...

We analyze the impact of elected competitors from the same constituency on legislative shirking in the German Bundestag from 1953 to 2017. The German electoral system ensures that there is always at least one federal legislator per constituency with a varying number of elected competitors from...

Welfare ranking of policy instruments is addressed in a two-sector Ramsey model with monopoly pricing in one sector as the only distortion. When government spending is restricted, i.e. when a government is unable or unwilling to finance the required costs for implementing the optimum policy,...

Societies often rely on simple rules to restrict the size and behavior of governments. When fiscal and monetary policies are conducted by a discretionary and profligate government, I find that revenue ceilings vastly outperform debt, deficit and monetary rules, both in effectiveness at curbing...

This paper investigates how institutional constraints discipline the behavior of discretionary governments subject to an expenditure bias. The focus is on constraints implemented in actual economies: monetary policy targets, limits on the deficit and debt ceilings. For a variety of aggregate...

This paper critically evaluates the literature on international unconventional monetary policies. We begin by reviewing the theories of how such heterogeneous policies could work. Empirically, event studies provide compelling evidence that international asset purchase announcements have strongly...

The National Food Security Act (NFSA) 2013 combines and expands the scope of some existing food-based welfare schemes. It will be distributing raw rations, meal(s) and/or cash. Approximately 81.35 crore persons or 16.57 crore households are to benefit under the targeted public distribution...

Liberalisation and technological developments have led to the fragmentation of production and the emergence of the concept of global value chains. This has ushered in the role of services for linking the production network, resulting in a greater composition of services in the value of tradable....

Public sector enterprises (PSEs) have been one of the key drivers of economic development in several countries, including India. While many countries have gradually moved away from the PSE model of growth, in the year 2019, around 25 percent of the Fortune Global 500 companies were PSEs. As...

How does monetary policy impact upon macroprudential regulation? This paper models monetary policy's transmission to bank risk taking, and its interaction with a regulator's optimization problem. The regulator uses its macroprudential tool, a leverage ratio, to maintain financial stability,...