Research work in economics with a focus on India.
Colin Weiss of Federal Reserve on the issue of whether Gold has overtaken US Treasury as a safe asset? In 2025, world international reserves held in gold surpassed foreign official holdings of U.S. Treasury securities (figure 1), a fact drawing attention from…
Riksbank Deputy Governor Anna Seim asks one of the most asked questions by economists: What is money? “We economists usually talk about money having to fulfil three basic functions,” she explained. “It should retain a stable value over time, be generally accep…
Prof Luis Garicano sums up all the economic history brilliantly in one para: “Adam Smith said a bunch of stuff that was mostly right. Marx said a bunch of stuff that was wrong. Keynes fixed some things up, messed some others. Then Lucas broke everything again.…
Jeanet Bentzen, Alessandro Pizzigolotto and Lena Sperling on how White House is supporting religiosity and dividing America: Around the world, governments are pulling religion closer to the state, from Türkiye’s generously funded religious directorate to Vikto…
AFD, the far right party has won election in Saxony has shocked Germany and its leaders. U Govind Rao writes on the rise of the right-wing party in Madras Courier: Germany’s far-right Alternative for Germany (AfD) has taken another giant step towards political…
Even though monetary aggregates remain out of fashion for monetary analysis, they serve as useful ways to understand money. We are seeing evolving of new forms of money – tokensied deposits, tokenises money market mutual funds and stablecoins. How to include t…
Muhamad Chatib Basri former finance minister of Indonesia in IMF F&D Magazine Sep-26 edition narrates how and why Indonesia faced youth protests despite strong macro fundamentals: Affan Kurniawan was completing a food delivery order in Jakarta on the night of…
A Teacher Writes to Students Series (77): New Principles of Economics Annavajhula J C Bose, PhD Former Professor, Department of Economics, SRCC, DU Aha! At last, we can do sensible economics. We can do economics without Greg Mankiw’s fictitious 10 Principles o…
Pranay Kothasthane and Sarthak Pradhan of Takshashila Institute have written this interesting book: Fiscal Fables – A Citizen’s Guide to Public Finance. The duo have put up this fabulous platform – Fiscal Playground – where you can figure Indian Public Finance…
IMF F&D Sep-26 edition profiles Montek Ahluwalia: In 1991, India stood on the brink. Export earnings were no longer enough to pay for imports, triggering a full-blown balance of payments crisis. Countries caught in such turmoil often endure years of weak growt…
Book Review: Ecosocialism Michael Lowy. 2023. Ecosocialism: A Radical Alternative to Capitalist Catastrophe. Aakar Books for South Asia. Annavajhula J C Bose, PhD Former (Economics) Professor, SRCC, DU Given that there is no Comparative Economic Systems paper…
Roger Svensson of Research Institute of Industrial Economics (IFN) in this new esearch traces history of international currencies: This chapter traces the historical emergence and competition of international currencies from antiquity to the present. It introd…
SEBI Research Department released earlier studies on profits and losses (mostly losses) of retail traders in derivatives markets in 2023 and 2024. Both showed 90 percent of traders made losses leading to lots of discussions. SEBI took some measures to slowen t…
SEBI research team has released a study on trading behaviour of derivatives traders: 1. The study indicates that equity derivatives trading by individual investors is characterized by high trading intensity,particularly in short- duration options contracts, wi…
Jonathan Hall, Jason Hicks, Morris M. Kleiner & Yun taek Oh analyse the impact of licencing in this NBER paper: We examine whether occupational licensing improves service quality and safety using trip-level Uber data that include driver ratings and telematics-…
A Teacher Writes to Students Series (76): Mahatma Gandhi’s Economist and Environmentalist| Annavajhula J C Bose, PhD Former Professor, Department of Economics, SRCC, DU Mahatma Gandhi deserves a sincere salute for having said thus in December 1928: “God forbid…
A team of ECB economists (Malin Andersson, Johannes Breckenfelder, Stefano Corradin, Kalin Nikolov and Maria Antonietta Viola) write on the ECB Blog : Valuations on the US stock market, as measured by the CAPE ratio, are currently close to their historical pea…
RBI Deputy Governor Shirish Chandra Murmu reviews RBI and role of cash going forward in this speech: Currency management is a core function of nearly every central bank represented in this room. In the previous decade, adoption of digital payments in India has…
As per RBI Act, RBI Central Baord should comprise 21 members. The current status of the Board as per RBI website is 11 members with 1 member nominated recently. Central Board of Director appointed/nominated under RBI Act, 1934 Section of RBI Act Sr. No. Name 8…
I had posted about how nighttime lights data has emerged as a useful indicator to track economic activity. Irakli Barbakadze, Jan Fidrmuc, Martin Hulényi and Ketevani Kapanadze in this voxeu article argue how Russian nighttime lights data tells you the real pi…
Steven Feldman on Gold’s return as monetary collateral: Gold is not returning to the monetary system in the form its advocates often imagine. It is unlikely to replace fiat currency, restore Bretton Woods or become the daily medium of exchange for modern econo…
A Teacher Writes to Students Series (75): Homage to Radhakamal Mukerjee Annavajhula J C Bose, PhD Former Professor, Department of Economics, SRCC, DU Engrossed in modern readings from “the West is the Best”, many Indian students are ignorant about Radhakamal M…
Chirantan Chatterjee, Ying Fan and Debi Prasad Mohapatra discuss 4G rollout in India: Governments increasingly use protection and targeted subsidies to promote domestic firms. These policies are usually evaluated in the market they target. This column uses Ind…
TimPhillips of voxeu talks interviews Elisa Giannone over Japanese ghost towns: In the oldest Japanese municipalities, close to half the residents are already over 65. As young people move to cities, the retailers close, then the clinics, then the bus that use…
Josh Kirk, Evgenia Passari and Hélène Rey in this voxeu article point how periodic table has become the new US Dollar with exorbitant privilege: Trade in critical metals essential for electrification has become centred on China over the last three decades. Thi…
Christos Mavrogiannis, Nico Zorell and Christoph Zwick in this new ECB paper discusses the impact of structural reforms on the private investments: This paper examines the impact of labour and product market reforms on private investment across 26 advanced eco…
Roger Svensson of Research Institute of Industrial Economics (IFN) in this paper discusses the small change problem from a historical lens: This chapter analyses the historical and economic logic of small-denomination coin production and circulation from antiq…
A Teacher Writes to Students Series (74): Good Knowledge Annavajhula J C Bose, PhD Former Professor, Department of Economics, SRCC, DU According to the International Economic Association, “Economists must adhere to the highest standards of honesty and integrit…
Museum of American Finance in its quarterly magazine has an interesting article by Joe Martin, President emeritus of the Canadian Business History Association: In the late 19th century, Adam Shortt, Canada’s “first economist,” wrote an article for the Journal…
Mohammad Ghaderi, Sébastien Plante, Nikolai Roussanov & Sang Byung Seo in this NBER paper trace 128 year history of US corporate bonds: Do corporate bond investors earn compensation for bearing credit risk? We construct a new historical corporate bond database…