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.