Details about Nirupama Kulkarni

Access statistics for papers by Nirupama Kulkarni.

Last updated 2026-02-25. Update your information in the RePEc Author Service.

Short-id: pku796

Working Papers

2025

1. Deposit and Credit Reallocation in a Banking Panic: The Role of State- Owned Banks
   Working Papers, Ashoka University, Department of Economics
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2022) View citations (2)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2022)
2. Financial Repression, Deposit Rate Deregulation, and Bank Market Power
   Working Papers, Centre for Advanced Financial Research and Learning (CAFRAL)
3. Open Payment Infrastructure and Market Participation: The Role of Interoperability in Financial Inclusion
   Working Papers, Centre for Advanced Financial Research and Learning (CAFRAL)

2024

4. Banking the Underbanked: Capital Investment and Credit-Constrained Firms
   Working Papers, Ashoka University, Department of Economics
5. Breaking Barriers to Financial Access: Cross-Platform Digital Payments and Credit Markets
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
6. Open Banking And Digital Payments: Implications For Credit Access
   Working Papers, Centre for Advanced Financial Research and Learning (CAFRAL)
7. Shadow Banks On The Rise: Evidence Across Market Segments
   Working Papers, Centre for Advanced Financial Research and Learning (CAFRAL)

2023

8. Anatomy Of A Liquidity Shock On Non-Banks
   Working Papers, Centre for Advanced Financial Research and Learning (CAFRAL)
9. Cash Is King: The Role Of Financial Infrastructure In Digital Adoption
   Working Papers, Centre for Advanced Financial Research and Learning (CAFRAL)
   See also Journal Article Cash Is King: The Role of Financial Infrastructure in Digital Adoption, The Review of Corporate Finance Studies, Society for Financial Studies (2023) View citations (1) (2023)
10. Distributional Implications of Bank Branch Expansions: Evidence from India
    Working Papers, Centre for Advanced Financial Research and Learning (CAFRAL)
11. The Unholy Trinity: Regulatory Forbearance, Government-Owned Banks And Zombie Firms
    Working Papers, Centre for Advanced Financial Research and Learning (CAFRAL)

2022

12. Bank Deposit Franchise, Interest Rate Risk, And Credit Booms: Evidence From India
    Working Papers, Centre for Advanced Financial Research and Learning (CAFRAL)
13. Homeownership Segregation
    Working Papers, Centre for Advanced Financial Research and Learning (CAFRAL)
    See also Journal Article Homeownership segregation, Journal of Monetary Economics, Elsevier (2022) View citations (1) (2022)

2021

14. Consumption Tax Reform and the Real Economy: Evidence from India’s Adoption of a Value-Added Tax
    Working Papers, Ashoka University, Department of Economics View citations (1)
15. Consumption Tax Reform and the Real Economy: Evidence from India’s Adoption of a Value-Added Tax
    Working Papers, Centre for Advanced Financial Research and Learning (CAFRAL)
    See also Journal Article Consumption Tax Reform and the Real Economy: Evidence From India's Adoption of a Value‐Added Tax, Journal of Empirical Legal Studies, John Wiley & Sons (2021) (2021)
16. Mortgage Policies And Their Effects On Racial Segregation And Upward Mobility
    Working Papers, Centre for Advanced Financial Research and Learning (CAFRAL)
17. Resolving Zombie Lending With Collateral Reform
    Working Papers, Centre for Advanced Financial Research and Learning (CAFRAL)
18. The Unholy Trinity: Regulatory Forbearance, Stressed Banks and Zombie Firms
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (23)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2021) View citations (23)
19. Unearthing Zombies
    Working Papers, Centre for Advanced Financial Research and Learning (CAFRAL)
    Also in Working Papers, Ashoka University, Department of Economics (2021)
    See also Journal Article Unearthing Zombies, Management Science, INFORMS (2025) (2025)
20. Zombie Lending Due To The Fear Of Fire Sales
    Working Papers, Centre for Advanced Financial Research and Learning (CAFRAL)
    See also Journal Article Zombie lending due to the fear of fire sales, Journal of Corporate Finance, Elsevier (2025) (2025)

2019

21. Government Guarantees and Bank Vulnerability during a Crisis: Evidence from an Emerging Market
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)

2012

22. Dividends and Bank Capital in the Financial Crisis of 2007-2009
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (7)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2011) View citations (71)

Journal Articles

2025

1. Unearthing Zombies
   Management Science, 2025, 71, (9), 7840-7862
   See also Working Paper Unearthing Zombies, Working Papers (2021) (2021)
2. Zombie lending due to the fear of fire sales
   Journal of Corporate Finance, 2025, 91, (C)
   See also Working Paper Zombie Lending Due To The Fear Of Fire Sales, Working Papers (2021) (2021)

2023

3. Cash Is King: The Role of Financial Infrastructure in Digital Adoption
   The Review of Corporate Finance Studies, 2023, 12, (4), 867-905 View citations (1)
   See also Working Paper Cash Is King: The Role Of Financial Infrastructure In Digital Adoption, Working Papers (2023) (2023)

2022

4. Homeownership segregation
   Journal of Monetary Economics, 2022, 129, (C), 123-149 View citations (1)
   See also Working Paper Homeownership Segregation, Working Papers (2022) (2022)

2021

5. Consumption Tax Reform and the Real Economy: Evidence From India's Adoption of a Value‐Added Tax
   Journal of Empirical Legal Studies, 2021, 18, (3), 569-602
   See also Working Paper Consumption Tax Reform and the Real Economy: Evidence from India’s Adoption of a Value-Added Tax, Working Papers (2021) (2021)

2012

6. What Saved the Indian Banking System: State Ownership or State Guarantees?
   The World Economy, 2012, 35, (1), 19-31 View citations (12)