Young people account for one fifth of the world’s population and according to the population projections of Planning Commission of India, they contribute to 22.8% of the Indian population. Majority of these young people constitute student population acquiring higher education who may...

In this paper we assess the impact of external economic liberalization in India on the transmission of aggregate shocks. We examine the relative importance of domestic and external shocks and capture their feedback effects by estimating an eight variable vector autoregression (VAR) model. We...

On November 08, 2016, India took a decisive step towards going “cashless” by suddenly announcing withdrawal of its existing currency notes of two highest denominations, namely, the Rs. 500/= and the Rs. 1000/=. The move, announced with a suddenness that took the entire nation by surprise,...

In recent years, diverging demand and growth regimes have received greater scholarly attention. In particular, the intersection between different variants of Comparative Political Economy and the post-Keynesian macroeconomic analysis provides a promising avenue for understanding the main...

This working paper provides a survey of the theoretical underpinnings for the various employment guarantee schemes, and discusses full employment policy experiences in the United States, Sweden, India, Argentina, and France. The theoretical and policy developments are delineated in a historical...

This paper uses cointegration and vector error-correction models to analyse the causal relationship between education and development across select Indian states using annual data from 1980-81 to 2008-09. Expenditure on education per capita is used as the proxy for education, while State...

The paper takes into account the various kind of risks associated with cross border transactions that assume importance in Indian scenario. In order to identify such risks, an attempt has been made to analyze the major cases of cross border transactions that occurred in India and to identify the...

The comparison of China's and India's economic trajectories over the last 40 years reveals the massive potential of targeted policies for economic development (in general) and economic growth (in particular). In the early 1980s India and China had a roughly similar GDP and up until 1990 India...

In this paper, We analyze the shocking episode of “2016 demonetization” in India. The policy declared 86% of cash in circulation in the form of INR 500 ($7.5) & INR 1000 ($15) notes as an illegal tender effective from the midnight of November 8, 2016. However, the government of India...

This paper outlines the key features of the production version of the quarterly projection model (QPM), which is a forward-looking open-economy gap model, calibrated to represent the Indian case, for generating forecasts and risk assessment as well as conducting policy analysis. QPM incorporates...