•  
CAFRAL aims to conduct high quality research in areas of banking and finance, particularly in areas of policy interest. Our research areas include financial institutions, sovereign and corporate bond markets, financial networks and stability, behavioral finance, corporate finance, household finance and related areas of macro-finance such as monetary economics and international finance. CAFRAL aims to build capacity in these areas by developing internal data and analytic resources, capabilities, and collaborations with research institutions with similar missions.
 
We list some of the working papers and publications of current CAFRAL researchers

1. Do Rural Roads Promote Inclusive Entrepreneurship?
Author(s) Ananyo Brahma and Vidhya Soundararajan Publication CAFRAL Date Friday, August 30, 2024
View PaperAbstract
2. Bank Entry, New Loans, And Misallocation
Author(s) Nirvana Mitra and Pavel Chakraborty Publication CAFRAL Date Monday, August 5, 2024
View PaperAbstract
3. Markup Heterogeneity, Openness, And The Pro-Competitive Gains From Trade Across Countries
Author(s) Hamid Firooz, Gunnar Heins and Sankalp Mathur Publication CAFRAL Date Monday, August 5, 2024
View PaperAbstract
4. Career Incentives And Employee Productivity In State-Owned Enterprises: Evidence From India
Author(s) Tanisha Agarwal, Samarth Gupta, and Kaushalendra Kishore Publication CAFRAL Date Wednesday, December 27, 2023
View PaperAbstract
5. Sovereign Default And Tax-Smoothing In The Shadow Of Corruption And Institutional Weakness
Author(s) Marina Azzimonti and Nirvana Mitra Publication CAFRAL Date Thursday, November 30, 2023
View PaperAbstract
6. Anatomy Of A Liquidity Shock On Non-Banks
Author(s) Nirupama Kulkarni, K. M. Neelima and Sonalika Sinha Date Tuesday, August 29, 2023
View PaperAbstract
7. Cash Is King: The Role Of Financial Infrastructure In Digital Adoption
Author(s) Bhavya Agarwal, Nirupama Kulkarni and S. K. Ritadhi Date Thursday, August 17, 2023
View PaperAbstract
8. The Unholy Trinity: Regulatory Forbearance, Government-Owned Banks And Zombie Firms
Author(s) Anusha Chari, Lakshita Jain and Nirupama Kulkarni Date Thursday, August 17, 2023
View PaperAbstract
9. Employment Protection Legislation And Informality: Theory And Evidence From India
Author(s) Ritam Chaurey, Gaurav Chiplunkar and Vidhya Soundararajan Date Wednesday, July 12, 2023
View PaperAbstract
10. Distributional Implications Of Bank Branch Expansions: Evidence From India
Author(s) Nirupama Kulkarni, Kanika Mahajan and S. K. Ritadhi Date Tuesday, January 24, 2023
View PaperAbstract
11. Bank Deposit Franchise, Interest Rate Risk, And Credit Booms: Evidence From India
Author(s) Nirupama Kulkarni and Akshat Singh Date Tuesday, December 27, 2022
View PaperAbstract
12. Political Constraints And Sovereign Default
Author(s) Marina Azzimonti and Nirvana Mitra Date Friday, December 2, 2022
View PaperAbstract
13. Credit Constraints, Bank Incentives, And Firm Export: Evidence From India
Author(s) Yogeshwar Bharat and Raoul Minetti Date Thursday, November 24, 2022
View PaperAbstract
14. Does Facetime With The Boss Matter? Soft Information Communication And Organizational Performance
Author(s) Samarth Gupta and Kaushalendra Kishore Date Tuesday, May 10, 2022
View PaperAbstract
15. Homeownership Segregation
Author(s) Nirupama Kulkarni and Ulrike Malmendier Date Tuesday, May 10, 2022
View PaperAbstract
16. Multinational Entry And Exit, Technology Transfer, And International Business Cycles
Author(s) Gautham Udupa Date Friday, April 29, 2022
View PaperAbstract
17. International Business Cycles - The Role Of Technology And Resource Transfers Via Multinationals
Author(s) Gautham Udupa Date Friday, December 3, 2021
View PaperAbstract
18. Dollar Liquidity, Trade Invoicing And Real Effects: Evidence From India
Author(s) Apoorva Javadekar, Shekhar Tomar and Gautham Udupa Date Thursday, July 29, 2021
View PaperAbstract
19. Mortgage Policies And Their Effects On Racial Segregation And Upward Mobility
Author(s) Nirupama Kulkarni and Ulrike Malmendier Date Thursday, July 8, 2021
View PaperAbstract
20. Consumption Tax Reform And The Real Economy: Evidence From India’S Adoption Of A Value-Added Tax
Author(s) S. K. Ritadhi, Nirupama Kulkarni and Abhay Aneja Date Thursday, July 8, 2021
View PaperAbstract
21. Resolving Zombie Lending With Collateral Reform
Author(s) Nirupama Kulkarni Date Friday, March 26, 2021
View PaperAbstract
22. Unearthing Zombies
Author(s) Nirupama Kulkarni, S. K. Ritadhi, Siddharth Vij and Katherine Waldock Date Friday, March 26, 2021
View PaperAbstract
23. Zombie Lending Due To The Fear Of Fire Sales
Author(s) Kaushalendra Kishore and Nirupama Kulkarni Date Wednesday, March 10, 2021
View PaperAbstract
24. Consumption Tax Reform And The Real Economy: Evidence From India’s Adoption Of A Value-Added Tax
Author(s) Abhay Aneja, Nirupama Kulkarni and S. K. Ritadhi Date Monday, December 7, 2020
View PaperAbstract
25. Credit Insurance, Bailout And Systemic Risk
Author(s) Kaushalendra Kishore, Research Director, CAFRAL Date Friday, February 21, 2020
View PaperAbstract
26. Why Risk Managers?
Author(s) Kaushalendra Kishore, Research Director, CAFRAL Date Friday, February 21, 2020
View PaperAbstract
27. International Business Cycles- The Role Of Technology And Resource Transfers Within Multinationals
Author(s) Gautham Udupa, Research Director, CAFRAL Date Friday, February 21, 2020
View PaperAbstract
28. The Unintended Consequences Of Regulatory Forbearance
Author(s) Anusha Chari, Lakshita Jain and Nirupama Kulkarni Date Friday, February 21, 2020
View PaperAbstract
29. Unearthing Zombies
Author(s) Nirupama Kulkarni, S. K. Ritadhi, Siddharth Vij and KatherineWaldock Date Friday, February 21, 2020
View PaperAbstract
30. Inflation Forecasting In Emerging Markets: A Machine Learning Approach
Author(s) Kriti Mahajan and Anand Srinivasan Date Thursday, February 20, 2020
View PaperAbstract
31. Stress Testing Of Firm Level Credit Risk
Author(s) Kriti Mahajan, Manjusha Senapati and Anand Srinivasan Date Thursday, February 20, 2020
View PaperAbstract
32. Global Spillover Effects Of US Uncertainty
Author(s) Saroj Bhattarai, Arpita Chatterjee and Woong Yong Park Date Monday, January 6, 2020
View PaperAbstract
33. Banking Relationships And Creditor Rights
Author(s) Vidhan K. Goyal, S. Lakshmi Naaraayanan and Anand Srinivasan Date Wednesday, October 16, 2019
View PaperAbstract
34. Anatomy Of A Banking Panic
Author(s) Viral Acharya, Abhiman Das, Nirupama Kulkarni and Prachi Mishra Date Monday, March 25, 2019
View PaperAbstract
35. Creditor Rights And Allocative Distortions { Evidence From India
Author(s) Nirupama Kulkarni Date Monday, March 25, 2019
View PaperAbstract
36. Elimination Of Tax Distortions On Capital Goods Through The VAT And Capital Investments By Financially Constrained Firms: Evidence From Indian States
Author(s) Abhay Aneja, Nirupama Kulkarni and S. K. Ritadhi Date Monday, March 25, 2019
View PaperAbstract
37. Who Values Access To College?
Author(s) Kartik Athreya, Felicia Ionescu, Urvi Neelakantan and Ivan Vidangos Date Monday, February 25, 2019
View PaperAbstract
38. Consumption And Saving Response To A Tax-Subsidized Saving Policy
Author(s) Sumit Agarwal, Souphala Chomsisengphet, Pulak Ghosh and Man Zhang Date Friday, February 22, 2019
View PaperAbstract
39. The Unsettling Behavior Of Exchange Rates Under Inflation Targeting
Author(s) Dr. Paul Beaudry and Dr. Amartya Lahiri Date Monday, October 1, 2018
View PaperAbstract
40. Is Better Access To Markets A Substitute For Educated Parents? Evidence From Rural India
Author(s) Reshad N. Ahsan, Arpita Chatterjee and Shahe Emran Date Saturday, September 1, 2018
View PaperAbstract
41. Stock Market Participation: The Role Of Human Capital
Author(s) Kartik Athreya, Felicia Ionescu and Urvi Neelakantan, Date Thursday, August 30, 2018
View PaperAbstract
42. Multinational Firms, Trade, And The Trade-Comovement Puzzle
Author(s) Dr. Gautham Udupa Date Tuesday, August 21, 2018
View PaperAbstract
43. Relationship Bank Behavior During Borrower Distress
Author(s) Yan Li, Ruichang Lu, Anand Srinivasan Date Friday, March 9, 2018
View PaperAbstract
44. The Effect Of Government Bank Lending: Evidence From The Financial Crisis In Japan
Author(s) Yupeng Lin, Anand Srinivasan and Takeshi Yamada Date Wednesday, November 8, 2017
View PaperAbstract
45. Unintended Consequences Of Government Bailouts: Evidence From Bank-Dependent Borrowers Of Large Banks
Author(s) Yupeng Lin, Xin Liu and Anand Srinivasan Date Wednesday, November 8, 2017
View PaperAbstract
46. Bank Dependence And Bank Financing In Corporate M&A
Author(s) Sheng Huang, Ruichang Lu and Anand Srinivasan Date Wednesday, November 8, 2017
View PaperAbstract
47. Urbanization, Structural Transformation And Rural-Urban Disparities In China And India
Author(s) Viktoria Hnatkovska and Amartya Lahiri Date Monday, November 6, 2017
View PaperAbstract
48. Explaining World Savings
Author(s) Colin Caines and Amartya Lahiri Date Monday, November 6, 2017
View PaperAbstract
49. Urban Sprawl And Rural Development: Theory And Evidence From India
Author(s) Viktoria Hnatkovska and Amartya Lahiri Date Monday, November 6, 2017
View PaperAbstract
50. Effects Of Demonetization: Evidence From 28 Slum Neighborhoods In Mumbai
Author(s) Deepa Krishnan and Stephan Siegel Date Tuesday, August 29, 2017
View PaperAbstract

Search by Year

Search by Author

Search by Category

Copyright ©   CAFRAL. All Rights Reserved.