Subject: Indian Economic Development
West Bengal experienced a surge in agricultural productivity in the late 1970s and 1980s, coinciding with the election of a communist government in the state. While most researchers agree that the latter caused the former, the precise route of causation is subject to debate. This project aims to review the literature, and then present and test certain hypothesis. To download the project, click here. To download the appendix, click here. To download the case study for Singur, click here.
Inflation-Targeting as a Tool to Control Unemployment
Inflation-Targeting (IT) Central Banks gained popularity throughout the world on the premise that as long as the inflation rate is kept under control, stable growth rates and moderate unemployment will follow. In fact, there have been calls for India to transition to an IT Central Bank. This project empirically tests whether IT central banks are more effective at controlling unemployment. To download the project, click here.
Was the Euro a Bad Idea
Subject: Development Theory and Experience
The Euro crisis called into question the basis of forming a common currency zone for the European nations. This project presents a brief history of the Euro, its institutional backbone, theoretical underpinning, and finally an econometric analysis of whether the assumptions behind its formation were valid. To download the project, click here.
The Global Savings Glut
Subject: International Economics
US Federal Reserve Chairman Ben Bernanke once famously blamed the Global Savings Glut, or the excess current account surpluses of other countries, for the global financial crisis. This paper first statistically analyses the causes and magnitude of China's current account surplus, and then carries out a regression to test for its effect on the US economy. To download the project, click here.
Financing the Second World War
Subject: Economic History of India
In the dual role of forced ally and subjugated colony of the British during the Second World War, India's participation in the war brought financial devastation for the country. The tough negotations on India's economic involvement in the war also lead to the first signs of Viceregal independence. To read about this lesser-known history of India and basic statistical analysis, click here.
The German War Machine
Subject: Economy, State and Society
Some would say that the Second World War was a natural outcome of the Nazi Economy. The fascist state, built on the foundation of government spending on arms and ammunitions, enabled a quick recovery from the great depression but also put Germany firmly on the path of war. To download the project, click here.
Japan's Lost Decade
By the early 1980s, Japan's economy rivalled that of the US in its sheer size, and exceeded the latter in its growth. Starting in the late 1980s, however, the economy experienced a downturn so severe that it has not been able to recover without Government spending. This paper analyses the causes and responses to the 'Lost Decade' starting in the 1990s. To download the project, click here.
Price Cap Regulations
A price cap is among the most frequently used policy tools by the Government, but one which can have distortionary effects on the market in question. This paper analyses the rationale behind price caps, a monopolists' typical response to them, issues in regulation and certain basic applications. To download the paper, click here.