Market frictions prevent the efficient allocation of factors of production, slow down structural transformation and lead to costs in terms of lower output and aggregate total factor productivity (TFP). We use a theoretical framework developed by Aoki (2012) featuring sector-specific frictions on...

Exploiting a unique natural experiment, the 2016 demonetization episode in India, this paper analyzes the extent to which a consumer demand shock propagates through firms' input-output networks. In November 2016, India demonetized 86% of its currency, creating a nationwide demand shock. We...

We estimate long-run elasticities of substitution between intermediate inputs for Indian manufacturing plants. India's trade liberalization in the early 1990s provides an ideal natural policy experiment, with permanent and heterogeneous tariff reductions inducing changes in relative prices which...

In recent years, India has enjoyed one of the highest growth rates worldwide, weathering the global financial crisis better than many other countries. Prudent macroeconomic policies will be critical to prolonging the current expansion, given the risks associated with high inflation and volatile...

The book is an edited volume of different perspectives on the South Asian region and captures the political, social and economic challenges facing the region following the financial crisis and the region's responses to these challenges.

This study is positioned in two strands of literature-intersectionality and social mobility. It is the first to measure (dis)advantage at the individual level as an outcome of the intersectionality of identities and parental circumstances. By linking circumstances at the parental level with...

Using a state-industry panel data set at the 3 digit national industrial classification (NIC) level of disaggregation for 19 major Indian states over the period 1983-84 to 2007-08, we analyze the contemporaneous and long run impacts of the rate of profit and its components - profit share,...

This paper uses aggregate-level data, as well as case-studies, to trace out the evolution of some key structural features of the Indian economy, relating both to the agricultural and the informal industrial sector. These aggregate trends are used to infer: (a) the dominant relations of...

Using aggregate data from the Annual Survey of Industries, we analyze profitability in India's organized manufacturing sector from 1982-83 to 2012-13. Over the whole period of analysis, the rate of profit grew at about 1 percent per annum, primarily driven by a rising share of profits. We use...

This paper uses aggregate-level data as well as case-studies to trace the evolution of some key structural features of the Indian economy, relating both to the agricultural and the informal industrial sector. These aggregate trends are used to infer: (a) the dominant relations of production...