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Dr.M.Ramachandran

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Designation: 
Professor
Department: 
Department of Economics
School: 
School of Management
Gender: 
Male
Academic
Academics: 
DegreeSpecializationUniversity / InstitutionYear of Completion
1Ph.D. Monetary EconomicsUniversity of Hyderabad1994
2M. Phil. EconomicsPondicherry University1989
3M.A.EconomicsMadurai Kamaraj University1987
4B.A.EconomicsMadurai Kamaraj University1985
Total Experience: 
23 Years
Area of Specialization/Interest: 

Monetary Economics, Open Economy Macroeconomics, Applied Econometrics

 Appointments:

  1. Professor, Department of Economics, Pondicherry University, Pondicherry (March 2006 to till date).

  2. Registrar (i/c), Pondicherry University (26th February 2016 – 14th July 2017).

  3. Reserve Bank of India Chair Professor, Institute for Social and Economic Change, Bangalore (April 2005 to February 2006).

  4. Visiting Fellow, Institute for Social and Economic Change, Bangalore (June 2004 to March 2005).

  5. Associate Professor, Madras School of Economics, Chennai (April 2001 to May 2004).

  6. Reader, Department of Economics, University of Mumbai, Mumbai (August 1997 to March 2001).

  7. Lecturer, Gokhale Institute of Politics and Economics, Pune (September 1994 to August 1997).

 

 

Publications (in last 3 years): 

Research Publications:

a) Peer Reviewed Articles

1.       Appetite for Official Reserves (with:Stefy Carmel), Economic and Political Weekly, 2018, Vol. 53 (13), pp. 120-128.

2.       Inflation and the relative price dispersion: a case for four percent solution (with: SartajRasool Rather and S. Raja SethuDurai), Australian Economic Papers,2018, Vol. 57 (1), pp. 81-91, Wiley Blackwell.

3.       Shocks and Inflation (with Rakesh Kumar), DRG Study No. 42, Reserve Bank of India, Mumbai, 2017.

4.       The relationship between Output Uncertainty and Economic Growth-Evidence from India (with: B. Balaji and S. Raja SethuDurai), Economics Bulletin, 2017, Vol. 37 (4), 2680-2691.

5.       Role of money in explaining inflation in India: Evidence from P-star model (with: Sunil Paul, SartajRasool Rather), Bulletin of Economic Research, 2017, Vol. 69 (4), pp. 94-111,Wiley Blackwell.

6.       The dynamics between inflation and inflation uncertainty: Evidence from India (with: B. Balaji and S. Raja SethuDurai), Journal of Quantitative Economics, 2016,Vol. 14 (1), pp. 1-14. Springer.

7.       On the methodology of measuring core inflation (with: SartajRasool Rather and S. Raja SethuDurai), Economic Notes, 2016, Vol. 45 (2), pp. 271-282.Wiley Blackwell.

8.       Price Rigidity, Inflation and the Distribution of Relative Price Changes (with: SartajRasool Rather and S. Raja SethuDurai), South Asian Journal of Macroeconomics and Public Finance, 2015, Vol. 4 (2), pp. 258-287, Sage.

9.       Asymmetric Price Adjustment – evidence for India (with: SartajRasool Rather and S. Raja SethuDurai), Journal of Economic Asymmetries, 2015, Vol. 12 (2), pp. 73-79. Elsevier.

10.    Volatility Spillover between Oil and Stock Market Returns (with: Anand B. and Sunil Paul), Indian Economic Review, 2014, Vol. 49 (1) pp. 37-56. Delhi School of Economics.

11.    Long-run causal nexus between share price and dividend (with: P S Nirmala and P S Sanju), Journal of Asia Business Studies, 2014, Vol. 8(2), pp. 136-145, Emerald.

12.    Inflation and relative price variability: Evidence for India (with: SartajRasool Rather and S. Raja SethuDurai), Journal of Asian Economics, 2014, Vol. 30 (1), pp. 32-41. Elsevier.

13.    Does inflation asymmetrically affect the relative price variability (with: SartajRasool Rather and S. Raja SethuDurai), Applied Economics Letters, 2014, Vol. 21 (2), pp. 80-83. Taylor and Francis.

14.    Do Currency equivalent monetary aggregates have an edge over their simple sum counterparts? (with: Sunil Paul), South Asian Journal of Macroeconomics and Public Finance, 2013, Vol. 2 (2), pp. 107-143. Sage.

15.    Price and volume effects associated with nifty index revisions: A test of price pressure hypothesis (with: P S Nirmala and P S Sanju), The Journal of Indian Management & Strategy, 2013, Vol. 18 (1), pp. 36-46. Jagannath International Management School.

16.    Sectoral effects of disinflation: evidence from India (with: S. Raja SethuDurai), Macroeconomics and Finance in Emerging Market Economies, 2012, Vol. 6 (1), pp. 77-87. Taylor and Francis.

17.    A time-varying parameter model of inflation in India (with: Sudhanshu Kumar and Naveen Srinivasan, Indian Growth and Development Review, 2012, Vol. 5, pp. 25-50. Emerald.

18.    Are investment and dividend decisions separable (with: P S Sanju and P S Nirmala), Applied Financial Economics, 2011, Vol. 21 (20), pp. 1515-1524. Taylor and Francis.

19.    Currency equivalent monetary aggregates as leading indicators of inflation (with: Sunil Paul), Economic Modelling, 2011, Vol. 28 (4), pp. 2041-2048. Elsevier.

20.    The Divisia Monetary Indices as Leading Indicators of Inflation (with: Rajib Das and Binod B. Bhoi), DRG Study No. 36, Reserve Bank of India, Mumbai, 2010.

21.    Monetary Policy in a Low Inflation Environment: Is there Evidence for Opportunistic Behaviour? (with: Naveen Srinivasan and Sudhanshu Kumar), Journal of Quantitative Economics, 2010, New Series Vol. 8 (2), pp. 4-19. Springer.

22.    Preference asymmetry and international reserve accretion in India (with: Naveen Srinivasan and VidyaMahambare),Applied Economics Letters, 2009, Vol. 16 (15), pp. 1543-1546. Taylor and Francis.

23.    Monetary Policy and the Behaviour of Inflation in India: Is there a need for Institutional Reform? (with: Naveen Srinivasan and Sumit Jain), Journal of Asian Economics, 2009, Vol. 20 (1), pp. 13-24. Elsevier.

24.    Dynamics of Inflation in India: Does the new Inflation Bias Hypothesis Provide any Explanation? (with: Naveen Srinivasan and VidyaMahambare), Macroeconomics and Finance in Emerging Market Economies, 2008, Vol. 1 (2), pp. 199-212. Taylor and Francis.

25.    Asymmetric exchange rate intervention and international reserve accumulation in India (with: Naveen Srinivasan), Economics Letters, 2007,Vol.94 (2), pp. 259-265. Elsevier.

26.    Core inflation for India (with: Raja SethuDurai), Journal of Asian Economics, 2007, Vol. 18 (2), pp. 365-383. Elsevier.

27.    Resisting Rupee Appreciation? (with: D Sambandhan), Economic and Political Weekly, 14th April 2007, Vol. 42 (15), pp. 1322-1325.

28.    On the Upsurge of foreign exchange reserves in India, Journal of Policy Modelling, 2006, Vol. 28 (7), pp. 797-809. Elsevier.

29.    UK monetary policy under inflation forecast targeting: Is behaviour consistent with symmetric preferences? (with: Naveen Srinivasan and VidyaMahambare), Oxford Economic Papers, 2006, Vol. 58 (4), pp. 706-721. Oxford.

30.    Modeling inflation in India: A critique of the structuralist approach (with: Naveen Srinivasan and VidyaMahambare), Journal of Quantitative Economics, 2006, New Series Vol. 4 (2), pp. 45-58. Springer.

31.    High Capital Mobility and Precautionary Demand for International Reserves, Journal of Quantitative Economics, 2005, pp. 15-29.Springer.

32.    Do Broad Money, Output and Prices Stand for a Stable Relationship in India?,Journal of Policy Modelling, 2004, Vol. 26 (8 & 9), pp. 982-1001. Elsevier.

33.    The Optimal Level of International Reserves: Evidence for India, Economics Letters, 2004, Vol. 83 (2), pp. 365-370. Elsevier.

34.    Exchange Market Pressure and Reserve Bank of India’s Intervention Activity (with: MirzaAllimBaig and V. Narasimhan), Journal of Policy Modelling, 2003, Vol. 25 (8), pp. 727-748. Elsevier.

35.    The Discretionary Monetisation of Fiscal Deficit for Fiscal Prudence (with: D Sambandan and R Srinivasan), Journal of Indian School of Political Economy, 2002, Vol. 14 (1), pp. 53-61.

36.    On Sterilising Capital Inflows: The Indian Experience (with: MirzaAllimBaig and V. Narasimhan), Journal of Indian School of Political Economy, 2002, pp. 221-234.

37.    On Interest Rate Rigidity (with: D Tripati Rao), UdyogPragati, 2002, pp. 53-57.

38.    Dynamics of Inflation and Fiscal Deficits: Implications for Inflation Targeting, Journal of Indian School of Political Economy, 2001, Vol. 13 (3), pp. 429-441.

39.    Fiscal Deficit, RBI Autonomy and Monetary Management, Economic and Political Weekly, 26th August – 8th September 2000, Vol. 35 (35 & 36), pp. 3266-3272.

40.    The Behaviour of Income Velocity of Money in India: Institutional, Structural and Socio-economic Determinants, ArthaVijnana, 1998, Vol. 40, pp. 35-48.

41.    The Optimal Level of Monetary Aggregation and Monetary Targeting in India, The Indian Economic Journal, Special Issue in Monetary Economics, 1998, pp. 84-99.

42.    Fiscal and Monetary Actions: A Test of Relative Importance of the Economic Monetary Aggregates and their Simple Sum Counterparts, Prajnan, 1995, Vol.24, pp. 125-137.

43.    Predictability and Controllability of Money Stocks: Money Multiplier Approach for India (with: P. Geetha Rani), Indian Economic Journal, Special Issues in Monetary Economics, 1994, Vol. 42 (1), pp. 124-133.

44.    Separability of Monetary Assets: Some Evidence from Approximation Analysis for India (with: B.Kamaiah), Journal of Quantitative Economics, 1994, Vol. 10, pp. 337-350. Springer.

45.    Distributional Effects and Consistency of Divisia Monetary Aggregates, ArthaVijnana, 1994, Vol.36, pp. 376-381.

46.    Some Consideration on the Choice of Alternative Monetary Aggregates as Intermediate Targets in the Indian Case (with: P. Geetha Rani), Prajnan, 1993, Vol. 22, pp. 351-368.

47.    Causality between Money and Prices in India: Some Evidence from Cointegration and Error Correction Models (with: B Kamaiah), Singapore Economic Review, 1992, Vol. 37, pp. 101-108. World Scientific.

48.    Monetary Aggregates for India: A re-examination (with: B.Kamaiah), Asian Economic Review, 1992, Vol. 33, pp. 223-234.

49.    Causality between Money and Prices in India: A Futile Search for Consistent Evidence (with: Md. Mohsin and B Kamaiah), Indian Journal of Economics, 1992, Vol. 73, pp. 419-437.

b) Working Papers

1.       Does Exchange Rate Intervention Trigger Volatility? (with: Vadivelu A.), Working Papers id:8683, eSocialSciences.

2.       Money and inflation: Evidence from P-star model (with: Sunil Paul and SartajRasool Rather), Working Paper No. 115/2015, Madras School of Economics, Chennai, August 2015.

3.       Capital Controls, Exchange Market Intervention and International Reserve Accumulation In India (with: Naveen Srinivasan and VidyaMahambare), Working Paper No. 103/2015, Madras School of Economics, Chennai, August 2015.

4.       A New Approach to Construct Core Inflation (with: SartajRasool Rather and S. Raja SethuDurai), Working Paper No. 91/2014, Madras School of Economics, Chennai, August 2014.

5.       The Reserve Bank of India's Reaction to Exchange Rate Variation: A time-varying parametric approach(with: Vadivel A.), IEG Working Paper No. 339, Institute of Economic Growth, New Delhi, 2014.

6.       Does Exchange Rate Intervention Trigger Volatility? (with: Vadivelu A.), IEG Working Paper No. 238, Institute of Economic Growth, New Delhi, 2013.

7.       Is the QTM Controversy Settled? (with: N R Bhanumurthy and P C Padhan, Working Paper, No. 81, Institute for Social and Economic Change, Bangalore, 2001.

Honours / Awards (if any): 

  1. Vice President (Elect), The Indian Econometric Society (2014-15, 2015-16 and 2016-17)

  2. Merit Scholarship for Ph.D. programme in Pondicherry University.

  3. Best student Award for overall academic performance in M. Phil course in Pondicherry University.

  4. Merit Scholarship for M. Phil programme in Pondicherry University.

 

Books: 

 

Research Studies/Chapters in Edited Books

1.       Deficit Management and its Implications for Inflation (with: Hersch Sahay) in JyotsnaJalan, SugataMarjit and SattwikSantra (eds.), India Public Finance and Policy Report 2016 – Fiscal Issues and Macro Economy, Oxford University Press, 2016.

2.       Perceptions of Indian Leather Exporters to Environmental Requirements and Transaction Costs (with: U. Sankar, S Jawahar, S Tholkappian and N Karthikeyan) in U Sankar (eds.), Trade and Environment - A Study of India's Leather Exports, Oxford University Press, 2007.

3.       India's Exports of Leather and Leather Products: Trade Policy and Composition and Direction of Trade (with: U. Sankar, S Tholkappian, Mamatha Rao and B Preethi) in U Sankar (eds.), Trade and Environment - A Study of India's Leather Exports, Oxford University Press, 2007.

4.       Exchange Market Pressure and Monetary Policy (with: MirzaAllimBaig) in RomerCorrea and L. G. Burange (eds.),Reforms, Institutions and Policies: Challenges Confronting the Indian Economy, Himalaya Publishing House, Mumbai, 2004, pp 299-312.

5.       The Stability of Relationship between Broad Money, Output and Prices in India (with: Mamatha R Rao) in Nachane et al. (eds.), Econometric Models: Theory and Applications, Allied Publishers, Mumbai, 2003.

6.       The Optimal Level of Monetary Aggregation in Proceeding of 32nd Annual Conference of The Indian Econometric Society, Bangalore, April 1996.

Other Details:

Total teaching experience : 23years
Total research experience : 29 years
Number of papers presented in conferences : 70
Number of Ph.D. students produced : 10
Number of Ph.D. students currently enrolled : 07
Number of M. Phil. students guided : 22
Conducts regular training in the area of advanced Econometrics for the officers of Indian Economic Service, Indian Statistical Service, Reserve Bank of India, Competition Commission of India and faculty members and Ph.D. scholars of various universities and institutions across India
Contact Details
Telephone No: 
0413 - 2654375
Email: 
ramachandran.eco@pondiuni.edu.in, ramachandraneco@gmail.com
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