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Short-term effects of India’s demonetization on the rural poor
- Zhu, Heng, Gupta, Anubhab, Majumder, Binoy, Steinbach, Sandro
- Economics letters 2018 v.170 pp. 117-121
- financial economics, households, India
- 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.