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PAYMENT DELAY IN WORKFARE PROGRAMMES AND HOUSEHOLD WELFARE: THEORY AND SOME EVIDENCE FROM INDIA (2023)
Journal Article
BASU, P., N., R. R. S., & SEN, K. (in press). PAYMENT DELAY IN WORKFARE PROGRAMMES AND HOUSEHOLD WELFARE: THEORY AND SOME EVIDENCE FROM INDIA. Manchester School,

Using the lens of a life cycle model, we argue that an administrative failure of a wage payment delay in a workfare programme could adversely affect the welfare of the poor through two channels. First, it imposes an implicit consumption tax on the ho... Read More about PAYMENT DELAY IN WORKFARE PROGRAMMES AND HOUSEHOLD WELFARE: THEORY AND SOME EVIDENCE FROM INDIA.

Unconventional Monetary Policy and the Bond Market in Japan: A New Keynesian Perspective (2023)
Journal Article
Basu, P., & Wada, K. (2023). Unconventional Monetary Policy and the Bond Market in Japan: A New Keynesian Perspective. Japan and the World Economy, 67, Article 101207. https://doi.org/10.1016/j.japwor.2023.101207

Using the lens of a medium scale DSGE model, we analyze macroeconomic effects of Japan’s unconventional monetary policy which is known as Qualitative and Quantitative Easing (QQE). Our focus is on the bond market. The model features: (i) commercial b... Read More about Unconventional Monetary Policy and the Bond Market in Japan: A New Keynesian Perspective.

Labour immobility between industries: Consequences for the macroeconomy (2023)
Journal Article
Basu, P., Chivers, D., & Park, C. (in press). Labour immobility between industries: Consequences for the macroeconomy. Economic Systems,

Workers are failing to move to the most productive industries, despite the offer of higher wages. In order to explain this phenomenon, we provide evidence that when an industry experiences a positive, labour-productivity shock, it is subsequently... Read More about Labour immobility between industries: Consequences for the macroeconomy.

Rethinking the Welfare State (2023)
Journal Article
Kaygusuz, . R., Guner, N., & Ventura, G. (in press). Rethinking the Welfare State. Econometrica,

The U.S. spends significant amounts on non-medical transfers for its working-age population in a wide range of programs that support low and middle-income households. How valuable are these programs for U.S. households? Are there simpler, welfare imp... Read More about Rethinking the Welfare State.