Vidya Mahambare

We examine the tone of the internal and external members of India’s Monetary Policy Committee. The tone of the external members’, which place a higher weight on growth relative to inflation, has a greater impact on the bond yields.

This paper investigates if residing in a joint family affects non-farm employment for married women in rural India. Our estimates based on a longitudinal survey of over 27,000 women conducted in 2005 and 2012, and using the conditional logistic regression and instrumental variable approach suggest that living in a joint family lowers married women’s participation non-farm work by around 12% points. The adverse impact is higher for younger women, for those from families with higher social status, and for those residing in Northern India. We present evidence to suggest that women with higher education are not constrained from cultural and traditional norms since education raises women’s decision-making power in a joint family. An increased education level is likely to raise women’s earning capacity as well as the quality of jobs which may help in lowering family pressure against work. Public policies that encourage higher education, improve job accessibility along with affordable childcare, will raise non-farm employment, which has increasingly been the main source of new jobs, for women living in a rural India.

Reduced-form estimates of the Reserve Bank of India's (RBI) first-order condition indicate that its preferences have been asymmetric with respect to exchange-rate management, with the response to the rate of rupee appreciation being relatively larger than to the rate of rupee depreciation of the same magnitude. This behaviour is shown to account for a sizable fraction of reserve accretion in recent years.

This study investigates the relationship between a married woman’s paid work participation and her exposure to intimate partner violence (IPV) in urban India. Results show that due to the male backlash channel, women in employment face significantly higher levels of IPV compared to women involved in domestic work only. The study does not find evidence that any autonomy women gain by doing paid work lowers their experience of IPV. Furthermore, this paper contributes to the literature on gender-based violence by introducing and testing for a “female guilt channel” – a phenomenon in which women in paid work justify IPV against them more than those not in paid work – that, in turn, further raises their IPV exposure. The paper finds weak evidence for the guilt channel in the overall sample and stronger evidence among women with intermediate levels of education.

This paper draws implications for the energy and education policies in developing countries based on the insights derived from studying the determinants of household refrigerator ownership in India. In our study the failure of the government policies to ensure reliable public services such as uninterrupted power supply and improving female education levels turn out to be the key stumbling blocks to raising household welfare in India. While a threshold level of household income is necessary for a purchase of a consumer durable, it is not a sufficient condition. Our results for the determinants of refrigerator ownership in India suggest that, even when households have sufficient purchasing power, the duration of a complementary good (electricity for >17 h per day) is critical for the ownership, all else held constant. Also, females in households tend to derive greater utility from the refrigerator usage due to its impact on lowering household burden of work and easing women’s entry into the labour market. Our results confirm the hypothesis that when women bargaining power is proxied by the level of education, households with a female with higher level of education have higher probability of refrigerator ownership.

In this paper we estimate the Reserve Bank of India's (RBI) policy response to supply shocks. In particular, we exploit an important strand of the recent literature (the new inflation bias hypothesis) to understand why the two frequently cited measures of inflation in India have persistently diverged in recent years. Specifically, it is argued that the difference in coverage and weighting pattern between the indices interacting with policies pursued by the RBI to control its preferred inflation measure WPI turned out to be inappropriate with respect to stabilizing expected CPI-IW inflation. This in turn provides an explanation for the persistent divergence between the two measures of inflation.