Ms.Prachi Mishra

Monetary Transmission in Developing Countries

Evidence from India

We examine the strength of monetary transmission in India, using a conventional structural VAR methodology. We find that a tightening of monetary poli...

Monetary Transmission in Low Income Countries

This paper reviews monetary transmission mechanisms in low-income countries (LICs) to identify aspects of the channels that may operate differently in...

E-commerce During Covid: Stylized Facts from 47 Economies

We study e-commerce across 47 economies and 26 industries during the COVID-19 pandemic using aggregated and anonymized transaction-level data from Mas...

Inflation and Labor Markets: A Bottom-Up View

U.S. inflation surged in 2021-22 and has since declined, driven largely by a sharp drop in goods inflation, though services inflation remains elevated...

Spillover Effects of Exchange Rates

A Study of the Renminbi

This paper estimates the impact of China's exchange rate changes on exports of competitor countries in third markets, which we call the "spillover eff...

What is Responsible for India’s Sharp Disinflation?

We analyze the dramatic decline in India’s inflation over the last two years using an augmented Phillips Curve approach and quantify the role of dif...

Populism and Civil Society

Populists claim to be the only legitimate representative of the people. Does it mean that there is no space for civil society? The issue is important ...

Impact of Fed Tapering Announcements on Emerging Markets

This paper analyzes market reactions to the 2013–14 Fed announcements relating to tapering of asset purchases and their relationship to macroeconomi...

Tracking Economic and Financial Policies During COVID-19: An Announcement-Level Database

We introduce a new comprehensive announcement-level database tracking the extraordinary fiscal, monetary, prudential, and other policies that countrie...

E-Commerce During COVID in Spain: One “Click” Does Not Fit All

The share of e-commerce in total credit-card spending boomed during Covid in Spain. In particular, women, youth, and urban consumers used e-commerce p...

What Policy Combinations Worked? The Effect of Policy Packages on Bank Lending During COVID-19

This paper analyzes the impact of fiscal, monetary, and prudential policies during the COVID-19 pandemic on bank lending across a broad sample of coun...

Measuring U.S. Core Inflation: The Stress Test of COVID-19

Large price changes in industries affected by the COVID-19 pandemic have caused erratic fluctuations in the U.S. headline inflation rate. This paper c...

Understanding U.S. Inflation During the COVID Era

This paper analyzes the dramatic rise in U.S. inflation since 2020, which we decompose into a rise in core inflation as measured by the weighted media...

Doing More for Less? New Evidence on Lobbying and Government Contracts

Why do firms lobby? This paper exploits the unanticipated sequestration of federal budget accounts in March 2013 that reduced the availability of gove...

How Effective Is Monetary Transmission in Low-Income Countries? a Survey of the Empirical Evidence

This paper surveys the evidence on the effectiveness of monetary transmission in low-income countries. It is hard to come away from this review with m...

Protection for Free? the Political Economy of U.S. Tariff suspensions

This paper studies the political influence of individual firms on Congressional decisions to suspend tariffs on U.S. imports of intermediate goods. We...

What is Responsible for India's Sharp Disinflation?

We analyze the dramatic decline in India's inflation over the last two years using an augmented Phillips Curve approach and quantify the role of diffe...