And Now, Price Deflation in India and China? C. P. Chandrasekhar and Jayati Ghosh
Ever since the Global Financial Crisis, advanced economies have been grappling with the spectre of deflation. While this was very clearly a reflection of the downswing in economic activity in the aftermath of the crisis, such price deflation has proved remarkably impervious to the most expansionary monetary policies and liquidity expansion that the world economy has yet seen. This has had adverse consequences in terms of producers’ expectations, which in turn have kept investment low. It has not benefited working people because wages have stayed low or continued to fall. And it has generated tendencies of the debt deflation-type that…
A Picture of Inequality C.P. Chandrasekhar and Jayati Ghosh
The government's decision to release income class-wise details on tax returns allows an assessment of the extent of inequality in the distribution of income among tax payers. Picture_Inequality (Download the full text in PDF format) (This article was originally published in the Business Line on May 9, 2016.)
When Commodity Prices Fall C.P. Chandrasekhar and Jayati Ghosh
The decline in primary commodity prices over the past four years particularly last year, shows that financialisation of commodities has amplified and exaggerated instabilities and fluctuations. Commodity_Prices_Fall (Download the full text in PDF format) (This article was originally published in the Business Line, April 25, 2016.)
On Data and Decision-making C.P. Chandrasekhar and Jayati Ghosh
Wide differences in official data based on series with different base years or from alternative sources lead to questions about their relevance for decision making. Data_Decision_Making (Download the full text in PDF format) (This article was originally published in the Business Line on April 11, 2016.)
How much has Global Economic Power Really Shifted? C.P. Chandrasekhar & Jayati Ghosh
This article analyses the significance of shift in global economic power from the North to the South and what exactly it means for the countries in developing Asia like India. Global_Economic_Power (Download the full text in PDF format) (This article was originally published in the Business Line on March 28, 2016.)
Interest Rate Conundrum C.P. Chandrasekhar and Jayati Ghosh
With interest rates and bond yields turning negative in many developed countries, the efficacy of monetary policy as a counter cyclical instrument is in question. Interest_Rate_Conundrum (Download the full text in PDF format) (This article was originally published in the Business Line print edition dated March 14, 2016.)
Musical Expressions Jayati Ghosh
For many listeners, the string quartet provides at once the most intimate and the most expansive of musical possibilities. The combination of two violins, a viola and a cello playing together was first developed and then nearly perfected by Joseph Haydn in 18th century Austria. Since then its popularity has never waned, and it has remained an important vehicle for musical expression even for composers in the 21st century. Because it requires musicians to play together and listen together, it creates bonds that can almost be palpably felt by listeners. So there is something about these four string voices heard…
Capital Bleeds from Emerging Asia C.P. Chandrasekhar and Jayati Ghosh
Capital flight, in 2015, from the emerging markets, especially those in Asia, was much worse than has been previously estimated. This augurs ill for the coming year. Emerging_Asia (Download the full text in PDF format) (This article was originally published in the Business Line print edition dated February 2, 2016.)
Is the Rupee “Weakening”? C.P. Chandrasekhar and Jayati Ghosh
While much concern being expressed about the weakening rupee, it is not the past record that is the problem; rather, its likely direction in the near future is a cause for worry. Rupee_Weakening (Download the full text in PDF format) (This article was originally published in the Business Line, January 18, 2016.)
