ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles By Parag Waknis

Monetary Shocks and Market Segmentation

This article uses a short-term macroeconomic model in Williamson (2009) featuring goods and financial market segmentation to analyse the effect of such a shock in an economy with substantial informality and cash dependence. The households with access to formal financial markets experience an increase in consumption and those without such access experience a decline.

Demonetisation through Segmented Markets: Some Theoretical Perspectives

The decision to demonetise 86% of India’s currency has been widely and substantially debated by notable scholars of political science and economics. This article wishes to add to that debate, by focusing on macroeconomic theory and how the policy decision affects the organised and unorganised sectors of the Indian economy­—provided certain assumptions remain in place. The following analysis is based on the money-multiplier theory and the segmented markets model of economic and monetary policy analysis.

Macroeconomics Curricula in India and the United States

A response to "Some Thoughts on the Macroeconomics Curriculum in India" (EPW, 21 January 2012) distinguishes the various schools in contemporary macroeconomics, and surveys the teaching of the subject at the undergraduate level in the United States. It argues for greater fl exibility for teachers in India to decide their curricula.