Research

Selected Papers

New Stuff

The Exchange Rate Response Puzzle (with Viktoria Hnatkovska and Carlos Vegh) (Revised April 2012) 

Breaking the Caste Barrier: Intergenerational Mobility in India (with Viktoria Hnatkovska and Sourabh B. Paul) (Revised March 2012)

Castes and Labor Mobility (with Viktoria Hnatkovska and Sourabh B. Paul), American Economic Journal: Applied Economics 4(2), 2012 (paper)

The Allocation of Aggregate Risk, Secondary Market Trades and Financial Boom-Bust Cycles (with Paul Beaudry) (Revised April 2012)

Exchange Rates and Monetary Policy

Interest Rates and the Exchange Rate: A Non-Monotonic Tale (with Viktoria Hnatkovska and Carlos Vegh) (Revised April 2012) 

Optimal Monetary Policy Under Asset Market Segmentation  (with Rajesh Singh and Carlos Vegh) (paper)

Persistent Real Exchange Rates (with Alok Johri), Journal of International Economics 76, 2008 (paper)

Segmented Asset Markets and Optimal Exchange Rate Regimes  (with Rajesh Singh and Carlos Vegh), Journal of International Economics 72, 2007 (paper)

Output Costs, BOP Crises, and Optimal Interest Rate Policy  (with Carlos Vegh), Economic Journal 117, 2007 (paper)

Delaying the Inevitable: Interest Rate Defense and Balance of Payments Crises (with Carlos Vegh), Journal of Political Economy 111, 2003. (paper)

Growth and Development

Accounting for Development With Investment Prices (with Roc Armenter) (Revised October 2011)

Endogenous Productivity and Development Accounting  (with Roc Armenter) (paper)

A Tale of Two States: Maharashtra and West Bengal  (with Kei-Mu Yi), Review of Economic Dynamics 2009, (paper)

Costly Intermediation and the Poverty of Nations  (with Shankha Chakraborty), International Economic Review 48, 2007 (paper)

Economic Growth in an Interdependent World Economy  (with Roger Farmer), Economic Journal 116, 2006 (paper)

Recursive Preferences and Balanced Growth (with Roger Farmer), Journal of Economic Theory 125, 2005 (paper)

A Two-Country Model of Endogenous Growth  (with Roger Farmer), Review of Economic Dynamics 8, 2005 (paper)

 Do Rich Countries Choose Better Governments?  (with Costas Azariadis), Contributions to Macroeconomics (B.E. Journals in Macroeconomics), vol. 2 issue 1, 2002 (paper)

Growth and Equilibrium Indeterminacy: The Role of Capital Mobility, Economic Theory 17, 2001 (paper)