We use panel quantile regressions to study extreme (rather than average) movements in the distribution of the real effective exchange rate (REER). Global uncertainty (VIX) and financial conditions (U.S. monetary policy) shocks have a strong impact on the distribution of REER changes, with larger...

The rise in inflation since mid-2021 to multi-decade highs presents a worrying trend for households’ financial health, particularly if nominal incomes, or non-inflation adjusted income, of financially vulnerable families lag behind prices. Policymakers have noted that lower income households...

India is among the largest and fastest-growing economies in the world. To continue its growth, energy is and will continue to be one of its most important considerations. With a population of over one billion, India is the third largest consumer of petroleum on the globe. To maintain this...