People

Professor Parantap Basu

BA, MA, PhD

Professor of Macroeconomics

Biography

Prior to joining Durham, Professor Basu held positions at Fordham University and Case Western Reserve University in the United States. He has held visiting positions for research and teaching at various universities and research institutes which include University of Essex in the UK, Tilburg University in the Netherlands, University of Sydney in Australia, Auckland University in New Zealand, Indira Gandhi Institute of Development Research In India, Federal Reserve Banks in Minneapolis and St Louis in the United States. He served on the scientific committee of an EU sponsored project in 2010-11, as a Senior Research Consultant at the National Council of Applied Economic Research in 2014 and a visiting scholar at the Bank of Japan. Parantap has published widely in various fields of Macroeconomics which include Macro-Finance, Growth and Development, Business Cycle Theory.

Parantap is an Associate Editor of Economic Modelling. He is a recipient of the Hindrattan (Jewel of India) award in 2020.

Personal webpage

Research Interests

Asset Pricing
Growth and Inequality
Business Cycles

Research Groups

Publications

Chapter in book

Banerjee, Shesadri & Basu, Parantap (2016). Indian Economy During the Era of Quantitative Easing: A Dynamic Stochastic General Equilibrium Perspective.. In Monetary Policy in India: A Modern Macroeconomic Perspective. Ghate, Chetan & Kletzer, Kenneth M. Cham: Springer. 549-580.
Basu, P. (2009). Too Hungry to Read: Is an Education Subsidy a Misguided Policy for Development? In Handbook of Research in Cost Benefit Analysis. Brent, R.J. Edward Elgar Publishing Limited.

Journal Article

Basu, Parantap , Bell, Clive & Edwards, T. Huw (2021). COVID Social Distancing and the Poor: An Analysis of the Evidence for England. The B.E. Journal of Macroeconomics
Basu, P. & Getachew,Y. (2020). Redistributive Innovation Policy, Inequality and Efficiency.. Journal of Public Economic Theory 22(3): 532-554.
Banerjee, S, Basu, P & Ghate, C (2020). A Monetary Business Cycle Model for India. Economic Inquiry 58(3): 1362-1386.
Banerjee, S. & Basu, P. (2019). Technology Shocks and Business Cycles in India.. Macroeconomic Dynamics 23(5): 1721-1756.
Basu, P., Bhattarai, K. & Getachew,Y. (2019). Capital adjustment cost and inconsistency in income based dynamic panel models with fixed effects.. German Economic Review 20(4): e1002-e1018.
Basu, P. & Gavin, W.T. (2017). Negative Correlation between Stock and Futures Returns: An Unexploited Hedging Opportunity?. Bulletin of Economic Research 69(3): 209-215.
Banerji, S. & Basu, P. (2017). Universal Banking, Asymmetric Information and the Stock Market.. Economic Modelling 60: 180-193.
Basu, P. & Sarkar, A. (2016). Partial Inflation Indexation and Long-run Inflation Targeting in a Growing Economy: A Comparison of Calvo and Rotemberg Pricing Models. Journal of Macroeconomics 50: 293-306.
Banerji, S. & Basu, P. (2015). Borrower’s moral hazard, risk premium, and welfare a comparison of universal and stand-alone banking systems.. The Journal of economic asymmetries 12(1): 61-72.
Basu, P. & Getachew, Y. (2015). An adjustment cost model of social mobility.. Journal of Macroeconomics 44: 177-190.
Basu, P. & Kollmann, R. (2013). Productive Government Purchases and the Real Exchange Rate. The Manchester School 81(4): 461-469.
Basu, P., Gillman, M. & Pearlman, J. (2012). Inflation, Human Capital and Tobin's q. Journal of Economic Dynamics and Control 36(7): 1057-1074.
Basu, P. & Bhattarai, K.R. (2012). Cognitive Skills, Openness and Growth.. Economic Record 88(280): 18-38.
Basu, P. & Bhattarai, K.R. (2012). Government Bias in Education, Schooling Attainment and Long-run Growth. Southern Economic Journal 79(1): 127-143.
Basu, P. & Gavin, W.T. (2011). What explains the growth in commodity derivatives?. Federal Bank of St. Louis Review 93(1): 37-48.
Basu, P., Semenov, A. & Wada, K. (2011). Uninsurable Risk and Financial Market Puzzles. . Journal of International Money and Finance 30(6): 1055-1089.
Basu, P. & Thoenissen, C. (2011). International business cycles and the relative price of investment goods. . Canadian Journal of Economics 44(2): 580-606.
Basu, Parantap & Appelbaum, E. (2010). A New Methodology for Studying the Equity Premium.. Annals of Operations Research 176(1): 109-126.
Basu, P. (2010). Government Purchases and the Real Exchange Rate: A Comment.. Open Economies Review 21(1): 65-67.
Basu, P. (2009). Understanding Labour Market Frictions: An Asset Pricing Approach.. Bulletin of Economic Research 61(4): 305-324.
Basu, P. & Guariglia, A. (2008). Does Low Education Delay Structural Transformation? . Southern Economic Journal 75(1): 104-127.
Basu, P. & Renstrom, T.I. (2007). Optimal Dynamic Labour Taxation. Macroeconomic Dynamics 11: 567-588.
Basu, P. & Guariglia, A. (2007). Foreign Direct Investment, inequality and growth. Journal of Macroeconomics 29: 824-839.
Basu, P & Wada, K. (2006). Is low international risk sharing consistent with a high equity premium? A reconciliation of two puzzles.. Economics Letters 93(3): 436-442.
Basu, P. & Bandyopadhyay, D. (2005). What drives the cross-country growth and inequality correlation?. Canadian Journal of Economics = Revue canadienne d'économique 38(4): 1272-1297.
Basu, P., Chakraborty, C. & Reagle, D. (2003). Liberalization, FDI and growth in developing countries: A panel cointegration approach.. Economic Inquiry 41(3): 510-516.
Basu, P. & Guariglia, A. (2002). Liquidity constraints and the firms' investment return behavior.. Economica 69(276): 563-581.
Basu, P. & Samanta, P. (2001). Volatility and stock prices Implications from a production model of asset pricing. Economics Letters 70(2-3): 229-235.
Basu, P. (2001). Seigniorage, reserve ratio and growth. Journal of Macroeconomics 23(3): 397-416.

Working Paper

Basu, P. & Wada, K. (2018). Unconventional Monetary Policy and the Bond Market in Japan: A New-Keynesian Perspective. Bank of Japan IMES Discussion Paper 2018-E-12.
Basu, P. & Wibowo, S.S. (2017). An Empirical Investigation of Risk Sharing among Indonesian Households. (03 ).
Banerjee, S. & Basu, P. (2015). Effect of Quantitative Easing on the Indian Economy: A Dynamic Stochastic General Equilibrium Perspective.
Basu, P. & Sen, K. (2015). Welfare Implications of the Indian Employment Guarantee Programme with a Wage Payment Delay .

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