Papers by saroj bhattarai
A primary focus of the IFPRI 2020 Vision initiative is to find ways for people to attain food sec... more A primary focus of the IFPRI 2020 Vision initiative is to find ways for people to attain food security, that is, sufficient food to lead healthy and productive lives. But what is "sufficient"? And is providing access to food the primary means of protecting people (particularly women and children) against malnutrition, which now faces millions of people around the world? Recent evidence indicates that improvements in household food security, as measured by adequate calories, do not necessarily translate into improvements in the nutritional status of women and children. One reason for persistent malnutrition may lie in the complex interaction between food supply and illness, which is influenced by the overall health environment. This is often called the "leaking bucket effect," wherein improvements in access to the foods that are important for good nutritional status may be offset by poor access to nonfood inputs, such as quality health care facilities and services...
The natural rate of interest (r-star) has been a critical benchmark for monetary policymaking rec... more The natural rate of interest (r-star) has been a critical benchmark for monetary policymaking recently. We show that there exist fiscal limits to a monetary policy rule that targets r-star. When monetary policy is constrained by fiscal sustainability concerns, an interest rate rule that tracks r-star generates large and persistent movements in inflation and output gap, thereby producing macroeconomic instability and welfare losses. The mechanism operates through the government budget constraint, as interest rate changes affect the value of government debt and, thereby, inflation. This leads to perils of tracking r-star, in a model widely used for monetary policy analysis.
Federal Reserve Bank of St. Louis Working Paper Series
This paper evaluates the literature on international unconventional monetary policies (UMP). Intr... more This paper evaluates the literature on international unconventional monetary policies (UMP). Introducing market segmentation, limits-to-arbitrage, and time-consistent policy in standard models permits a theoretical role for UMP. Empirical studies provide compelling evidence that UMP influenced international asset prices and tail-risk in the desired manner. Calibrated modeling and vector autoregressive (VAR) exercises imply that these policies also improved macroeconomic outcomes. We assess the recent debate on the empirical evidence and discuss central bank assessments of UMP. Despite qualified successes, we recommend that UMP be reserved for crises and/or when the zero bound constrains conventional monetary policy.
Medicine & Science …, 2002
Wolters Kluwer Health may email you for journal alerts and information, but is committed to maint... more Wolters Kluwer Health may email you for journal alerts and information, but is committed to maintaining your privacy and will not share your personal information without your express consent. For more information, please refer to our Privacy Policy. ... Skip Navigation Links Home > February ...
The BE Journal of Macroeconomics, 2009
The BE Journal of Macroeconomics Contributions Volume 9, Issue 1 2009 Article 1 Monetary Policy a... more The BE Journal of Macroeconomics Contributions Volume 9, Issue 1 2009 Article 1 Monetary Policy and Central Bank Balance Sheet Concerns Tiago C. Berriel ∗ Saroj Bhattarai ∗Princeton University, [email protected] Princeton University, [email protected] ...
Uploads
Papers by saroj bhattarai