Over the past three decades, the world has witnessed economic growth accompanied by widening of income inequalities. In the face of rising income inequalities, it becomes imperative to ask what happens to the quality of various products provided in the market when economies experience economic...

We examine human capital's contribution to economy-wide technological progress through two channels { im- itation and innovation} innovation being more skilled-intensive than innovation. We develop a growth model considering an endogenous ability-driven skill acquisition decision of an...

This paper constructs monthly Exchange Market Pressure index for India over the period 1992-2011. It then identifies stress events in the Indian currency markets, as represented by the extreme movements of this index using the extreme value theory approach. We show that this approach is superior...