This paper documents the shift in the literature on prices from being exclusively a macro-topic featuring in the study of inflation, national income accounting, and cross-country income comparisons to one that is firmly rooted in micro-involving economic analysis of household behaviour, welfare, and the distributional implications of changes in relative prices. This paper brings together results from some of the recent studies on Indian National Sample Survey data that examine the effect of price changes on inequality and poverty. It also contains evidence on spatial prices in the context of a large heterogeneous country such as India.
|Title of host publication||Markets, Governance, and Institutions in the Process of Economic Development|
|Editors||Ajit Mishra, Tridip Ray|
|Place of Publication||Oxford UK|
|Publisher||Oxford University Press|
|Number of pages||19|
|Publication status||Published - 2018|