India has witnessed a series of policy reforms since 1991, which aimed to increase productivity of the manufacturing sector. Did these reforms increase productivity in manufacturing plants? We address this question using rich data from the Annual Survey of Industries in India spanning three...

We analyze post 1991 liberalization Indian economy using the Monetary Business Cycle Accounting framework. We use quarterly National Accounts data from 1996.Q1-2017.Q4, and we find that efficiency wedges explain up to 68% of fluctuations in output and 40% of hours worked, while investment wedges...

Optimal tax models, starting from Ramsey (1927), are often studied using a single government. However, there are several countries which are federations and in that multiple levels of government have fiscal authority, which masks the heterogeneity across states. In this paper we study a...

India is among the select countries which reacted quite early to the threat of COVID -19. It announced a nationwide lockdown at an early stage on 25th March 2020, which has now been extended till 3rd May 2020. This has helped keep the numbers of infections and death low in a densely populated...