-The Hindu Despite limitations, the use of randomised control trials has led to a paradigm shift in development policy evaluation If Rip Van Winkle was an academic economist and woke up from a two-decade long sleep this week, he would be baffled by the news of the Nobel Prize in Economics this year awarded to Abhijit Banerjee, Esther Duflo, and Michael Kremer for pioneering the use of randomised control trials (RCTs) in...
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The MGNREGA slowdown in India -Debmalya Nandy
-CounterCurrents.org Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) this year has almost come to a standstill. While the nation is debating the economic slowdown and falling demand in the rural areas , economists emphasizing that increase in the rural income and generating resources for the poor as a potential solution to the on going crisis, the so called world’s largest job scheme remains neglected by the Government of India. While focusing...
More »Explainer: What Abhijit Banerjee, Esther Duflo, Michael Kremer won the Economics Nobel for -Jahnavi Sen and Kabir Agarwal
-TheWire.in All three winners argue that using randomised control trials can lead to better public policy interventions. New Delhi: The 2019 Nobel Prize for economics has been awarded to three economists who have focused on framing policies by first measuring the outcomes of alternative interventions on randomly chosen samples from a target population. Abhijit Banerjee, Esther Duflo and Michael Kremer have all worked on using this method to argue that randomised control trials...
More »Abhijit Banerjee's prescription for Indian economy: 'Stop PMO interference, raise NREGA wages, pray' -Rohan Venkataramakrishnan
-Scroll.in The economist, who was awarded the Nobel prize on Monday, spoke just last week about what Indian policymakers need to do. Abhijit Banerjee, the renowned economist who was one of three awarded the Nobel prize for economics on Monday, put together some prescriptions for what the Indian economy needs right now. The last item on the list? “Pray.” On the next list, for the longer run? “Pray more.” Banerjee was speaking...
More »How not to plan for a rainy day -R Srinivasan
-The Hindu Business Line The drastic change in the monsoon pattern in recent years calls for a holistic — and quick — policy response First, credit where credit is due. India’s planning and administrative machinery grinds exceedingly slowly, but eventually, it does get there, provided there is a big enough spur, and the political will to see changes through. Nothing illustrates this better than the fallout of two super cyclones of near...
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