With a growing economy and declining poverty, India faces a curious challenge in providing a social safety net to its citizens. Using data from three rounds of the India Human Development Survey (IHDS), collected in 2004-5, 2011-12, and 2022-24, this paper shows that households face considerable transition in and out of poverty as the economy grows. Historically, India’s approach to social safety nets has involved identifying the poor and providing them with priority access to various social protection programmes that include both in-kind and cash assistance—however, the nature of poverty changes with economic growth. This churn in households’ economic circumstances makes it difficult to identify and target the poor precisely.

Recently, some analysts have argued that a progressive wealth tax may have large beneficial effects on the distribution of welfare in society with small adverse effects on real economic activity. We evaluate the merits of this view, both conceptually and empirically, within a dynamic general equilibrium model in which empirically plausible income and wealth distributions arise from an agency problem between managers, executives, and entrepreneurs

This paper presents an analysis of unit-level data from India’s first national Time Use Survey (TUS), conducted in 2019. Both men and women are engaged in unpaid as well as paid activities, but there are important gender differences in the time they spend on various activities, which vary by sector, education, age groups, income (proxied by monthly per capita quartiles) and social group. Following an analysis of gender differences in participation and time spent on various types of work,

We use U.S. crude-oil futures data with coded trader identities to investigate the contemporaneous trading behaviors of high-frequency machine-traders (HFTs), humans trading electronically, and physical floor-traders in periods characterized by extreme levels of heightened economic complexity or uncertainty that could make it difficult for pre-programmed algorithms to effectively undertake ex-ante modeling within an automated decision-making framework.

In this paper, we study the impairment in monetary policy caused by different forms of global financial cycles. We find that while both equity inflows and outflows cycles do exert influence over monetary policy, the bond inflows cycle does not have a significant impact.

The baseline forecast is for the world economy to continue growing at 3.2 percent during 2024 and 2025, at the same pace as in 2023. A slight acceleration for advanced economies—where growth is expected to rise from 1.6 percent in 2023 to 1.7 percent in 2024 and 1.8 percent in 2025—will be offset by a modest slowdown in emerging market and developing economies from 4.3 percent in 2023 to 4.2 percent in both 2024 and 2025.

We examine the spillover effect of Federal Reserve Board of Governors' speeches on sovereign credit risk and find that the tone of speeches negatively impacts sovereign credit spreads. Speeches that are forward-looking have a stronger impact.

What is the impact of mandatory disclosures of quality on market outcomes in a large developing country? Does impact differ across sub-markets and income groups? We answer these questions in the context of housing markets in India where information asymmetry between homebuyers and developers is high and litigation against housing projects is common.