This festschrift volume presents discussions on contemporary issues in
international economics and finance. It is aimed to serve as a reference
material for researchers. There are two broad sections of the book --
International Macroeconomics and International Finance. The chapters in
the International Macroeconomics section discuss critical topics like
aggregate level macro model for India with a new Keynesian perspective,
balance of payments, service sector exports, foreign exchange
constraints for import demands, foreign direct investment and knowledge
spill over, the relationship between forex rate fluctuation and
investment, Institutional quality-trade openness-economic growth nexus,
currency crises and debt-deficit relationship in the BRICS countries in
the backdrop of COVID-19. Apart from these, various analytical issues
related to macroeconomic policies are also covered in this section. The
topics discussed includes the nature of forex market interventions, the
issue of disinvestment and privatization, changing nature of fiscal
policy, the inflation-growth nexus, macroeconomic simulation modelling,
measuring core inflation, central bank credibility, monetary policy,
inflation targeting, Infrastructure, trade, unemployment and inequality
nexus. In the International Finance section, topics such as COVID-19
induced financial crisis, commodity futures volatility, stock market
connectivity, volatility persistence, determinants of sovereign bond
yields, FII and stock market volatility, cryptocurrency price formation,
financialization of Indian commodity market, and a Keynesian view of the
financial crisis are discussed. Overall, thirty two chapters in the
volume discuss cutting edge research in the areas of the two sections.
A tour de force... a lucid guide to some of the diverse and complex
issues in International Macroeconomics and Finance. This collection of
scholarly works is a fitting tribute to respected Prof. Bandi Kamaiah
and his enviable academic contributions.
- Prof. Y V Reddy, Former Governor, Reserve Bank of India
This volume comprising thoughtful essays by our leading scholars on
some of important policy issues that India is facing is indeed a rich
tribute to Professor Bandi Kamaiah . This book will greatly benefit the
academic community as well as our policy makers.
- Prof. Vijay Kelkar, Chairman, 13th Finance Commission of India;
Chairman, India Development Foundation, Mumbai, India
Noted economists from India and abroad gather to apply the rigorous
searchlight that Professor Bandi Kamaiah used so effectively in his
career. Major current topics in macroeconomics and international finance
are effectively explored in the volume.
- Prof. Ashima Goyal, Emeritus Professor, Indira Gandhi Institute
of Development Research, Mumbai, India; and Member, Monetary Policy
Committee of Reserve Bank of India
This volume of 32 papers in macroeconomics, international economics,
and international finance is intended as a tribute to the eminent
econometrician, Prof B Kamaiah. Post-graduate students and researchers
will find much valuable literature in the volume, which is a fitting
tribute to Prof Kamaiah. The editors and authors deserve rich
compliments.
- Prof. K L Krishna, Former Director, Delhi School of Economics,
New Delhi, India
I am so happy to hear that Dr. Kamaiah's colleagues and ex-students
are bringing out a special volume of articles in his honor. Nothing can
be more appropriate. Dr. Kamaiah, being a man of tremendous
publications, deserves this tribute. I wish all the luck and success to
the new book.
- Prof. Kishore Kulkarni, Distinguished Professor of Economics,
Metropolitan State University of Denver, USA
