@abhishekecon.bsky.social
QCOs are crippling exports, adding red tape, raising costs, and killing jobs. Instead of boosting manufacturing, they are reviving the license-permit Raj. Read our latest in @bsindia.bsky.social
04.03.2025 12:56 — 👍 0 🔁 0 💬 0 📌 0
In a series of articles, we argued that RBI's costly dollar peg since 2022 has cost $220B in reserves, hurt exports, and tightened monetary policy amid slowing growth. In our latest, we examine the factors driving this significant policy shift.
18.01.2025 16:31 — 👍 0 🔁 0 💬 0 📌 0
Abhishek Anand, Josh Felman & I in the Business Standard
on risks of disruptive adjustment from RBI's de facto rupee peg (business-standard.com/economy/anal...)
Risks arise from markets perceiving that costs of defending the peg-via spot & forward intervention-may have become unsustainably high
3️⃣ Monetary Policy Strain: Focusing on rupee stability undermines monetary policy effectiveness.
Our Suggestion: Let the rupee find its level. This could boost competitiveness, ease liquidity, and support growth amidst current challenges
1️⃣ Massive Interventions: The RBI's recent efforts to stabilize the rupee through spot and forward market interventions have been significant, but at what cost?
2️⃣ Liquidity Crunch: These actions have inadvertently tightened liquidity in the economy at a time when growth is already under strain.
Is it Time for the RBI to Reconsider its Rupee Strategy?
In our latest for @bsindia, we discuss why @RBI should rethink its rupee policy.
Why the new RBI should abandon the current rupee policy
In today’s BusinessStandard, Abhishek Anand, Josh Felman & I show that recent spot & *forward* intervention to support rupee:
-has been massive &
-tightened liquidity when growth was slowing
Targeting rupee has made monetary policy worse
In light of the RBI once again depleting reserves substantially, re-upping the piece by Josh Felman and me on the costly change in the exchange rate regime
23.11.2024 01:49 — 👍 3 🔁 2 💬 0 📌 0Today at 2 PM Esther Duflo's lecture is on Climate Change and Indian Exceptionalism with me as discussant.
Youtube link: www.youtube.com/live/vlXa3_B...
Looking forward to presenting paper by Abhishek Anand, Naveen Thomas and me on the multi-plant phenomenon @ CSEP in Delhi on Nov. 28 with Montek Ahluwalia as discussant. Details below.
Paper here: www.mids.ac.in/assets/doc/W...
