Amartya Lahiri
Biographic Data
| ID | 3822593 |
|---|---|
| NAME | Amartya Lahiri |
| GIVEN NAMES | Amartya |
| FAMILY NAME | Lahiri |
| SIGNATURE | LAHIRI A |
| AFFILIATIONS | (Amartya Lahiri is Royal Bank Faculty Research Professor, Vancouver School of Economics, University of British Columbia, Vancouver, British Columbia, Canada. His email address is ) |
| VERIFIED | No |
| TOTAL WORKS | 4 |
| TOTAL CITATIONS | 7 |
| AUTHOR COUNT | 4 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2003 |
| LATEST PUBLICATION YEAR | 2020 |
| H-INDEX | 2 |
The Great Indian Demonetization
On November 8, 2016, India demonetized 86 percent of its currency in circulation. The stated objectives of the move were to seize undeclared income, to destroy counterfeit currency, to speed up formalization of the economy, and to increase the tax base. I find that the evidence over the subsequent three years suggests that the move had limited success in achieving its stated objectives. Disaggregated data suggests that demonetization did have app…
Output Costs, Currency Crises and Interest Rate Defence of a Peg
Central banks typically raise short-term interest rates to defend currency pegs. Higher interest rates, however, often lead to a credit crunch and an output contraction. We model this trade-off in an optimising, first-generation model in which the crisis may be delayed but is ultimately inevitable. We show that higher interest rates may delay the crisis, but raising interest rates beyond a certain point may actually bring forward the crisis due t…
Economic Growth in an Interdependent World Economy
The open-economy Solow-Swan growth model predicts (1) that growth should be uncorrelated with the ratio of national investment to GDP and (2) instantaneous convergence of GDP per capita across countries. In the presence of capital market imperfections convergence is predicted to occur more slowly. But savings and investment ratios should still differ substantially across countries. In the data, investment ratios are strongly correlated with growt…
Delaying the Inevitable
The classical model of balance of payments crises implicitly assumes that the central bank sits passively as international reserves dwindle. In practice, however, central banks typically defend pegs aggressively by raising short-term interest rates. This paper analyzes the feasibility and optimality of raising interest rates to delay a potential BOP crisis. Interest rate policy works through two distinct channels. By raising demand for domestic, …
The Great Indian Demonetization
On November 8, 2016, India demonetized 86 percent of its currency in circulation. The stated objectives of the move were to seize undeclared income, to destroy counterfeit currency, to speed up formalization of the economy, and to increase the tax base. I find that the evidence over the subsequent three years suggests that the move had limited success in achieving its stated objectives. Disaggregated data suggests that demonetization did have app…
Delaying the Inevitable
The classical model of balance of payments crises implicitly assumes that the central bank sits passively as international reserves dwindle. In practice, however, central banks typically defend pegs aggressively by raising short-term interest rates. This paper analyzes the feasibility and optimality of raising interest rates to delay a potential BOP crisis. Interest rate policy works through two distinct channels. By raising demand for domestic, …
Delaying the Inevitable
The classical model of balance of payments crises implicitly assumes that the central bank sits passively as international reserves dwindle. In practice, however, central banks typically defend pegs aggressively by raising short-term interest rates. This paper analyzes the feasibility and optimality of raising interest rates to delay a potential BOP crisis. Interest rate policy works through two distinct channels. By raising demand for domestic, …
Economic Growth in an Interdependent World Economy
The open-economy Solow-Swan growth model predicts (1) that growth should be uncorrelated with the ratio of national investment to GDP and (2) instantaneous convergence of GDP per capita across countries. In the presence of capital market imperfections convergence is predicted to occur more slowly. But savings and investment ratios should still differ substantially across countries. In the data, investment ratios are strongly correlated with growt…
Output Costs, Currency Crises and Interest Rate Defence of a Peg
Central banks typically raise short-term interest rates to defend currency pegs. Higher interest rates, however, often lead to a credit crunch and an output contraction. We model this trade-off in an optimising, first-generation model in which the crisis may be delayed but is ultimately inevitable. We show that higher interest rates may delay the crisis, but raising interest rates beyond a certain point may actually bring forward the crisis due t…
The Great Indian Demonetization
On November 8, 2016, India demonetized 86 percent of its currency in circulation. The stated objectives of the move were to seize undeclared income, to destroy counterfeit currency, to speed up formalization of the economy, and to increase the tax base. I find that the evidence over the subsequent three years suggests that the move had limited success in achieving its stated objectives. Disaggregated data suggests that demonetization did have app…
Economic Theory and Policy (4 works) · Economics (4 works) · Global Financial Crisis and Policies (3 works) · Monetary economics (3 works) · Currency (2 works) · Monetary Policy and Economic Impact (2 works) · Political science (2 works) · Balance (ability (1 works) · Balance of payments (1 works) · Banking stability, regulation, efficiency (1 works)