The debate on appropriate measurement of workers’ remittances and the greater need for conceptual clarity about such statistics both for the compilers and the users raises certain important issues. First, lack of uniformity in properly identifying and measuring remittances of migrant workers...

The treasury securities repo-auction is an important instrument for central banks in managing liquidity and sending interest rate signal to the money market. In the Indian context, the repo-auctions have been used actively in the post-reform period. The present study illustrates the money market...

The study examines the theoretical considerations and empirical results of the switch to market borrowing, i.e. bond financing of the fiscal deficit, with correspondingly low monetisation, as part of India’s structural reforms initiated in 1991. It basically concludes that despite the sharp...

The identification of business cycles in India and construction of a composite leading indicator for forecasting the cyclical turning points have been the focus of this study. The cyclical analysis of monthly index of industrial production (IIP) in India applying the Bry-Boschan procedure...

This paper examines the macroeconomic factors that drive the Indian corporates’ preference for overseas borrowings. Foreign borrowings by Indian corporates are characterised by a large number of companies accessing international capital markets for small size loans. The policy framework on...

The structural approach adopted in this paper aims to trace out the evolution of public debt and deficits over a medium term horizon and its dynamic interaction with other key macroeconomic variables such as interest rate, inflation, trade gap and output. The policy simulations for India reveal...

This paper dwells upon the financial dimension of workers’ remittances as this issue has assumed significant policy attention across the spectrum of developing countries. Specifically, it addresses the following: i) Literature on workers’’ remittances in a macro economic framework; ii)...