|Professor of Macroeconomics in the Business School||MHL 169||+44 (0) 191 33 46360|
Prior to joining Durham, Professor Basu held positions at Fordham University and Case Western Reserve University in the United States. He has held visiting positions for research and teaching at various universities and research institutes which include University of Essex in the UK, Tilburg University in the Netherlands, University of Sydney in Australia, Auckland University in New Zealand, Indira Gandhi Institute of Development Research In India, Federal Reserve Banks in Minneapolis and St Louis in the United States. He served on the scientific committee of an EU sponsored project in 2010-11, as a Senior Research Consultant at the National Council of Applied Economic Research in 2014 and a visiting scholar at the Bank of Japan. Parantap has published widely in various fields of Macroeconomics which include Macro-Finance, Growth and Development, Business Cycle Theory.
Parantap is an Associate Editor of Economic Modelling and the PhD lead in Economics for the Department of Economics and Finance. He is a recipient of the Hindrattan (Jewel of India) award in 2020.
- Asset Pricing
- Growth and Inequality
- Business Cycles
Chapter in book
- Banerjee, Shesadri & Basu, Parantap (2016). Indian Economy During the Era of Quantitative Easing: A Dynamic Stochastic General Equilibrium Perspective. In Monetary Policy in India: A Modern Macroeconomic Perspective. Ghate, Chetan & Kletzer, Kenneth M. Cham: Springer. 549-580.
- Basu, P. (2009). Too Hungry to Read: Is an Education Subsidy a Misguided Policy for Development? In Handbook of Research in Cost Benefit Analysis. Brent, R.J. Edward Elgar Publishing Limited.
- Basu, P. & Ray.S.C. (1998). Long-run Relation between Manufacturing and Agricultural Prices in India. In Quantitative Economics: Theory and Practice,. Mukherjee, Robin & Chakravorty, Satya Allied Publishers. 204-217.
- Basu, P. (1996). Monetary Uncertainty, Velocity and the Nominal Interest Rate: An Explanatory Note. In Economic Theory, Trade and Quantitative Economics (Essays in Honour of Professor P.N. Roy). University of Calcutta. 68-75.
- Basu, P. & Vinod, H.D. (1990). Reestimating the Cost of Production in a Fuzzy Technological Environment. In Cost Analysis and Estimating Tools and Techniques. Greer, W.R., Jr. & Nussbaum, D.A. New York: Springer-Verlag. 3-29.
- Basu, P., Byrns, R.T. & Stone, G.W. (1984). Auctioning Approach to Market Equilibrium. In Great Ideas for Teaching Economics. Scott Foresman and Company. 33-34.
- Basu, P. & Mazumder, R. (2021). Regional Disparity of Covid-19 Infections: An Investigation using State Level Indian Data. Indian Economic Review
- Basu, Parantap Bell, Clive & Edwards, T. Huw (2021). COVID Social Distancing and the Poor: An Analysis of the Evidence for England. The B.E. Journal of Macroeconomics
- Banerjee, S, Basu, P & Ghate, C (2020). A Monetary Business Cycle Model for India. Economic Inquiry 58(3): 1362-1386.
- Basu, P. & Getachew,Y. (2020). Redistributive Innovation Policy, Inequality and Efficiency. Journal of Public Economic Theory 22(3): 532-554.
- Basu, P., Bhattarai, K. & Getachew,Y. (2019). Capital adjustment cost and inconsistency in income based dynamic panel models with fixed effects. German Economic Review 20(4): e1002-e1018.
- Banerjee, S. & Basu, P. (2019). Technology Shocks and Business Cycles in India. Macroeconomic Dynamics 23(5): 1721-1756.
- Basu, P. & Gavin, W.T. (2017). Negative Correlation between Stock and Futures Returns: An Unexploited Hedging Opportunity? Bulletin of Economic Research 69(3): 209-215.
- Banerji, S. & Basu, P. (2017). Universal Banking, Asymmetric Information and the Stock Market. Economic Modelling 60: 180-193.
- Basu, P. & Sarkar, A. (2016). Partial Inflation Indexation and Long-run Inflation Targeting in a Growing Economy: A Comparison of Calvo and Rotemberg Pricing Models. Journal of Macroeconomics 50: 293-306.
- Banerji, S. & Basu, P. (2015). Borrower’s moral hazard, risk premium, and welfare a comparison of universal and stand-alone banking systems. The Journal of economic asymmetries 12(1): 61-72.
- Basu, P. & Getachew, Y. (2015). An adjustment cost model of social mobility. Journal of Macroeconomics 44: 177-190.
- Basu, P. & Kollmann, R. (2013). Productive Government Purchases and the Real Exchange Rate. The Manchester School 81(4): 461-469.
- Basu, P. & Bhattarai, K.R. (2012). Cognitive Skills, Openness and Growth. Economic Record 88(280): 18-38.
- Basu, P. & Bhattarai, K.R. (2012). Government Bias in Education, Schooling Attainment and Long-run Growth. Southern Economic Journal 79(1): 127-143.
- Basu, P., Gillman, M. & Pearlman, J. (2012). Inflation, Human Capital and Tobin's q. Journal of Economic Dynamics and Control 36(7): 1057-1074.
- Basu, P. & Gavin, W.T. (2011). What explains the growth in commodity derivatives? Federal Bank of St. Louis Review 93(1): 37-48.
- Basu, P. & Thoenissen, C. (2011). International business cycles and the relative price of investment goods. Canadian Journal of Economics 44(2): 580-606.
- Basu, P., Semenov, A. & Wada, K. (2011). Uninsurable Risk and Financial Market Puzzles. Journal of International Money and Finance 30(6): 1055-1089.
- Basu, P. (2010). Government Purchases and the Real Exchange Rate: A Comment. Open Economies Review 21(1): 65-67.
- Basu, Parantap & Appelbaum, E. (2010). A New Methodology for Studying the Equity Premium. Annals of Operations Research 176(1): 109-126.
- Basu, P. (2009). Understanding Labour Market Frictions: An Asset Pricing Approach. Bulletin of Economic Research 61(4): 305-324.
- Basu, P. & Guariglia, A. (2008). Does Low Education Delay Structural Transformation? Southern Economic Journal 75(1): 104-127.
- Basu, P. & Guariglia, A. (2007). Foreign Direct Investment, inequality and growth. Journal of Macroeconomics 29: 824-839.
- Basu, P. & Renstrom, T.I. (2007). Optimal Dynamic Labour Taxation. Macroeconomic Dynamics 11: 567-588.
- Basu, P & Wada, K. (2006). Is low international risk sharing consistent with a high equity premium? A reconciliation of two puzzles. Economics Letters 93(3): 436-442.
- Basu, P. & Bandyopadhyay, D. (2005). What drives the cross-country growth and inequality correlation? Canadian Journal of Economics = Revue canadienne d'économique 38(4): 1272-1297.
- Basu, P. & M. Morey (2005). Trade Opening and the Behavior of Emerging Stock Market Prices. Journal of Economic Integration
- Basu, P., T.I. Renstrom & L. Marsiliani (2004). Optimal Dynamic Taxation with Indivisible Labor. The Manchester School (Supplement) 72: 34-54.
- Basu, P., Chakraborty, C. & Reagle, D. (2003). Liberalization, FDI and growth in developing countries: A panel cointegration approach. Economic Inquiry 41(3): 510-516.
- Basu, P. & C. Chakraborty (2002). Foreign Direct Investment and Growth in India: A Cointegration Analysis. Applied Economics 34(9): 1061-1073.
- Basu, P. & Guariglia, A. (2002). Liquidity constraints and the firms' investment return behavior. Economica 69(276): 563-581.
- Basu, P. (2001). Seigniorage, reserve ratio and growth. Journal of Macroeconomics 23(3): 397-416.
- Basu, P. & S. Ghosh (2001). Tax Rate Uncertainty and Optimal Labor Supply Decision in a. Quarterly Review of Economics and Finance 49-68.
- Bandyopadhyay, D. & Basu, P. (2001). Redistributive Tax and Growth in a Model with Discrete Occupational Choice. Australian Economic Papers 40(2): 111-132.
- Basu, P., S. Ghosh & I. Kallianioti (2001). Interest Rate Risk, Labor Supply and Unemployment. Economic Modelling 18: 223-231.
- Basu, P. & Samanta, P. (2001). Volatility and stock prices Implications from a production model of asset pricing. Economics Letters 70(2-3): 229-235.
- Basu, P. & A. Banerjee (2001). A Re-examination of Excess Smoothness Puzzle when Consumers Estimate the Income Process. Journal of Forecasting 20: 357-366.
- Basu, P. & K.D. Salyer (2001). Modeling Money Demand in Growing Economies. Bulletin of Economic Research 53(1): 53-60.
- Basu, P., Morey, M. & Kawasaki. H. (2000). Emerging Markets, Liberalization and the Stationarity of Real Stock Prices. Emerging Markets Quarterly (Fall): 7-17.
- Basu, P. & Morey, M. (1998). Stock Prices in India after Economic Liberalization. Economic and Political Weekly 33(7): 355-58.
- Basu, P. & P. Dua (1996). Behavior of Velocity and the Nominal Interest Rate in a Cash-in-Advance Model. Journal of Macroeconomics 18(3): 463-478.
- Basu, P. & Reside, R. (1996). Inflation, Growth and Policy Coordination. Philippine Review of Economics and Business 33(2): 253-282.
- Basu, P. (1996). Proportional Income Tax and Ricardian Equivalence in a Nonexpected Utility Maximizing Model. Southern Economic Journal 233-244.
- Basu, P. & Dua, P. (1996). Velocity Instability: Real or Monetary Phenomenon? Applied Economics Letters 3.
- Basu, P. & Vinod, H.D. (1995). Consumption, Income and Real Interest Rates in Alternative State Space Models. International Journal of Forecasting 11(2): 217-231.
- Basu, P. (1995). Tax Rate Uncertainty and Sensitivity of Consumption to Income in an Overlapping Generations Model. Journal of Economic Dynamics and Control 19(1-2): 421-439.
- Basu, P. (1994). Capital Risk and Consumption Puzzles: A Pedagogical Note. Zeitschrift Fur Nationalokonomie 60(1): 99-107.
- Basu, P. & Ghosh, S. (1993). Savings under General Changes in Uncertainty: A Nonexpected Utility Maximizing Approach. Southern Economic Journal
- Basu, P. (1993). Mean Reversion in GNP and Stock Prices: An Adjustment Cost Hypothesis. Kyklos 46(Fasc. 1): 87-104.
- Basu, P. & McLeod, D. (1991). Terms of Trade, and Economic Fluctuations in Developing Countries. Journal of Development Economics 37: 89-110.
- Basu, P. (1991). Local Expectations Hypothesis in a Production Economy. Rivista Internazionale di Scienze Economiche E Commerciali 38(8): 719-724.
- Basu, P. (1990). Business Cycles with Endogenous Growth: A Parametric Example. Journal of Macroeconomics 12(3, Summer): 475-481.
- Basu, P. (1990). A Martingale Theory of Asset Prices in a Production Economy. Mathematical Social Sciences 20: 215-225.
- Basu, P. (1987). An Optimal Redistributive Capital Income Tax for an Economy with Public Investment. Economics Letters 23(1): 79-82.
- Basu, P. (1987). An Adjustment Cost Model of Asset Pricing. International Economic Review 28(3): 609-621.
- Basu, P. & Chib, S. (1985). Equity Premium in a Production Economy A Parametric Example. Economics Letters 18: 53-58.
- Basu, P. & Wada, K. (2018). Unconventional Monetary Policy and the Bond Market in Japan: A New-Keynesian Perspective. Bank of Japan IMES Discussion Paper 2018-E-12.
- Basu, P. & Wibowo, S.S. (2017). An Empirical Investigation of Risk Sharing among Indonesian Households. (03 ).
- Banerjee, A., Basu, P. & Keller, E. (2016). Business Cost and Skill Acquisition. 2016(01).
- Banerjee, S. & Basu, P. (2015). Effect of Quantitative Easing on the Indian Economy: A Dynamic Stochastic General Equilibrium Perspective.
- Basu, P. & Sen, K. (2015). Welfare Implications of the Indian Employment Guarantee Programme with a Wage Payment Delay.
- Banerjee, S. & Basu, P. (2015). Technology Shocks and Business Cycles in India.