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Short-term effects of India’s demonetization on the rural poor

Heng Zhu, Anubhab Gupta (), Binoy Majumder and Sandro Steinbach

Economics Letters, 2018, vol. 170, issue C, 117-121

Abstract: This paper analyzes the short-run responses of poor rural households to India’s demonetization in 2016. We estimate an economic loss of 15.5% over the two months post demonetization and discuss a range of strategies that the households adopted to exchange their banned currency-denominations.

Keywords: Demonetization; Loss; Currency shock; Financial diaries; India (search for similar items in EconPapers)
JEL-codes: E6 I3 O2 D10 (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1016/j.econlet.2018.05.035

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