Demonetisation Hit Growth, Jobs, Bank Credit: Study

New Delhi: The November 2016 demonetisation impacted economic activity in the country in the immediate aftermath, affecting the GDP numbers for that fiscal, while the measure’s impact had dissipated by the summer of the following year, according to a study published by the US think-tank National Bureau of Economic Research (NBER). The NBER working paper titled ‘Cash and the Economy: Evidence from India’s Demonetisation’ is auhtored by Harvard Professors Gabriel Chodorow-Reich and Gita Gopinath, along with Prachi Mishra, who is currently Managing Director at Goldman Sachs in Mumbai, and the Reserve Bank of India’s Abhinav Narayanan. (IANS)

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