The last decade has seen a sharp increase in interest in the possible existence of a Paradox of Redistribution (PoR) whereby narrow targeting of social transfers aimed at increasing their redistributive (poverty) impact has the perverse effect of increasing poverty over the medium term due to...

This paper examines the issue of international synchronization of cycles. Using spectral methods we analyze the pattern of co-movement (coherences) of growth rate cycles between countries across frequency bands and overtime. We also examine the lead-lag structure (phase shifts) of country cycles...

The effects of a unilateral cut in emissions (e.g. by Annexure 1 countries in Kyoto) are analyzed in a dynamic two-country two-commodity model. If the fossil fuel is priced at marginal cost, a unilateral cut reduces total emissions (the carbon leakage is less than one hundred percent). But if...

This paper examines the nexus between domestic and foreign financial markets viz. Indian and U.S. money markets, equity markets and the common market for currency. We estimate volatility, spillovers-both in returns and in volatility, and cross-correlations in a multivariate framework for the...

We trace changes in standard-of-living indicators across the three broad caste groups in India in order to comment on the evolution of the relative ranking of "Other Backward Classes" (OBCs). Employing a difference-in-diffrences strategy and analyzing individuals born between 1926-1985, we and...

Earlier studies have documented an “identifiable victim effect”-- people donate more to help individual people than to groups. Evidence suggests that this is in part due to an emotional reaction to the identified recipients, who generate more sympathy. However, stereotype research has shown...