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

Articles By Saurabh Ghosh

COVID-19 Scarring and Sustainable Recovery Challenges

The scarring effect of the pandemic is estimated by grouping the industries into four subsectors based on energy and labour intensities. A comparison of model output and the projected growth from a hybrid data set revealed the least impact on green industries. However, the intertwining of green and brown industries and the consequent short-run transitional cost necessitates calibrated policy intervention for sustainable growth.

A Horse Race among the Alternative Taylor Rule Specifications

The paper estimates a slew of augmented Taylor rule specifications using call and treasury bill rates. After accounting for break points, we calculate the output gap based on a single-index dynamic factor extracted from monthly high-frequency indicators that are representative of broad sectoral activity. In our study, we found that interest rates in India are mostly in line with the augmented Taylor rule specifications after the Reserve Bank of India started using flexible inflation targeting.