Classical economics was developed for a stable world, for a world that developed along Darwinian ecological ways. It was realized that individuals faced some future risks (illnesses, death, accidents, unemployment, etc.). These risks could be dealt with by private insurance companies, which developed accordingly. They could also be dealt …

India was the first to integrate climate change in inter-governmental fiscal transfers.

 

Climate change brings risks and uncertainty. How well monetary policy can incorporate these risks and uncertainties is a question many economists ask. There is a broad consensus among economists that fiscal policy can …

RBI is grapping with multiple challenges. For now, it has made its priority clear

 

In the recent Jackson Hole economic symposium and the FOMC (Federal Open Market Committee) meeting, US Fed Chair Jay Powell specified the likelihood of tightening US monetary policy by reducing the …

Even in a state like Kerala, higher human development indices have not translated into equally solid gender outcomes.

 

An interesting public policy question that has emerged over the last few years is why high human development indices are not translating into a better ‘gender status’ …

(Co-authored with Lekha Chakraborty)

 

Given that a timely deficit may not have adverse macroeconomic consequences, surviving this pandemic first by enhancing the required spending is crucial

 

As India reels from a new wave of COVID-19, concerns are being raised about the …