• Bhavesh Garg, Sayar Ahmad Shah and Janaka Erdisinghe (2025) Revisiting monetary policy transmission in a new inflation targeting country. Journal of Asian Economics, 100, 102026. [Paper]
• Sayar Ahmad Shah, Bhavesh Garg & Pravakar Sahoo (2025) Identifying efficient policy mix under emission mitigation and inflation targeting: a case of India. Energy Economics, 150, 108837. [Paper]
• Karan Rai and Bhavesh Garg (2025). Demographic Transition and Financial Assets. Emerging Markets Review, 69, 101340. [Paper]
• Meenu Rani, Bhavesh Garg, and Arun Kumar (2025) Change point analysis in data with heavy tails: a Normal Inverse Gaussian approach. Economics Letters, 254, 112477. [Paper]
• Karan Rai and Bhavesh Garg (2025). Macroeconomic impact of demographic transition and effectiveness of monetary policy: evidence from East Asian economies. Emerging Markets Finance and Trade, 61:12, 3742-3766. [Paper]
• B. Garg (2025). Policy Effectiveness in Mitigating Pandemic-Induced Macroeconomic Impacts: Evidence from Large Net Oil Importers of Asia. Emerging Markets Finance and Trade, 61:2, 493-515. [Paper]
• S. M. Juhro, P.K. Narayan, B. Garg, & D.F. Anugrah (2024). Transition to a green economy, oil prices and the current account. Energy Economics, 139, 107916. [Paper]
• P.K. Narayan, B. Garg, I. Gunadi, & A. Rishanty (2024). How are green stocks and monetary policy related?. Pacific-Basin Finance Journal, 87, 102516. [Paper]
• Karan Rai and Bhavesh Garg (2024) Demographic transition and inflation, Economic Systems 48:4, 101214 [Paper]
• Bhavesh Garg and Harsha Paranavithana (2024) Do different credit flows affect the current account differently? Evidence from emerging economies, Emerging Markets Finance and Trade, 60:10. 2190-2203. [Paper].
• Bhavesh Garg and Pravakar Sahoo (2023) Are gross financial inflows expansionary or contractionary? Evidence from emerging economies, Finance Research Letters, 58, 104329. [Paper].
• Sayar Ahmad Shah and Bhavesh Garg (2023) Identifying Efficient Policy Mix Under Different Targeting Regimes: A Tale of Two Crises. Economic Analysis and Policy, 78, 975-995. [Paper]
• Kushal Banik Chowdhury and Bhavesh Garg (2023) Fresh evidence on the oil-stock interactions under heterogeneous market conditions. Finance Research Letters, 54, 103726. [Paper]
• Bhavesh Garg, Karan Rai, Rishabh Pachoriya and Manik Thapa (2023) Crisis and contagion in cryptocurrency market. Bulletin of Monetary Economics and Banking, 26, 9-32. [Paper]
• Sayar Ahmad Shah and Bhavesh Garg (2023) Testing policy effectiveness during COVID-19: an NK-DSGE analysis. Journal of Asian Economics, 84, 101577. [Paper]
• Kushal Banik Chowdhury and Bhavesh Garg (2022) Has COVID-19 intensified the oil price – exchange rate nexus? Economic Analysis and Policy, 76, 280-298. [Paper]
• Bhavesh Garg and K.P. Prabheesh (2022). Is Indonesia's Current Account Balance Optimal? Evidence from an Intertemporal Approach. Bulletin of Monetary Economics and Banking, 25, 1-18. [Paper]
• Karan Rai and Bhavesh Garg (2022) Dynamic correlations and volatility spillovers between stock price and exchange rate in BRIICS economie: evidence from the COVID-19 outbreak period, Applied Economics Letters, 29:8, 738-745 [Paper]
• Bhavesh Garg and K. P. Prabheesh (2021) The nexus between the exchange rates and interest rates: Evidence from BRIICS economies during the COVID-19 Pandemic, Studies in Economics and Finance, 38(2), 469-486. [Paper]
• Bhavesh Garg & K. P. Prabheesh (2021) Testing the intertemporal sustainability of current account in the presence of endogenous structural breaks: Evidence from the top deficit countries. Economic Modelling, 97, 365-379. [Paper]
• K. P. Prabheesh and Bhavesh Garg (2021) Testing deviations from PPP and UIP: evidence from BRICS economies, Studies in Economics and Finance, 38(2), 384-399. [Paper]
• K. P. Prabheesh, Bhavesh Garg & Rakesh Padhan (2020) Time-varying dependence between stock market and oil prices during COVID-19: The case of net oil-exporting countries. Economics Bulletin, 40(3), 2408-2418. [Paper]
•  K. P. Prabheesh, Rakesh Padhan & Bhavesh Garg (2020) COVID-19 and the oil price–stock market nexus: Evidence from net oil-importing countries. Energy Research Letters, 1(2), 13745 [Paper]
• Bhavesh Garg and K. P. Prabheesh (2018) External shocks, consumption-smoothing and capital mobility in India: evidence from an intertemporal optimization approach. Applied Economics, 50:45, 4814-4829. [Paper] [Supplementary Material]
• K. P. Prabheesh and Bhavesh Garg (2018) Capital-enhanced Equilibrium Exchange Rate: evidence from India, Applied Economics Letters, 2018, 25:19, 1393-1397 (with Prabheesh K.P.) [Paper]
• Bhavesh Garg and K. P. Prabheesh (2017) Drivers of Current Account deficits in India, with implications for ameliorating them, Journal of Asian Economics, 2017, 51, 23-32. [Paper]
• Bhavesh Garg and K. P. Prabheesh (2015) Causal Relationships between the current account and the capital account: an empirical investigation from India, Applied Economics Letters, 2015, 22:6, 446-450 [Paper]

• A. Bishnoi, R. Dash, B. Garg & P. Sahoo (2024)Boosting the Labor Intensive Manufacturing in India, Economic and Political Weekly, 59(34), 96-106. [Paper]
• Bhavesh Garg (2023) Effectiveness of Monetary and Fiscal Policy in Mitigating Pandemic-Induced Macroeconomic Impacts: Evidence from Large Net Oil Importers of Asia, ERIA Discussion Paper Series, D.P. No. 492. [Paper]
• Bhavesh Garg & Pravakar Sahoo (2021) Do different types of capital inflows have differential impact on output? Evidence from Time Series and Panel analysis, IEG Working Paper, Working Paper No. 443, September 2021. Institute of Economic Growth, Delhi [Paper]
• Bhavesh Garg & Pravakar Sahoo (2020) Corona Crash: Need Global Efforts to tackle Global Crisis, IEG Policy Brief , Policy Brief No. 12/2020. Institute of Economic Growth, Delhi [Paper]
• Pravakar Sahoo & Bhavesh Garg (2018) India's Credit Ratings: Boost to Investors' Sentiment, Yojana, Journal of Planning Commission, Government of India, January, 65-72. [Link]
• Pravakar Sahoo & Bhavesh Garg. India-Korea Economic Relations during Post-CEPA Period, Institute of Peace and Conflict Studies [accepted]

• Why India needs stable capital flows - The Indian Express. February 28, 2023
• Demographic transition: India can reap rich dividends with right policy focus (with K. Rai) - The Hindu Business Line. December 21, 2022
• Urgently needed: AG-20 joint efforts (with P. Sahoo) - Deccan Herald. March 29, 2020
• A silver lining for Indian economy (with P. Sahoo) - Financial Express. March 12, 2020
• What the US monetary tightening means for India (with P. Sahoo) - Financial Express, June 26, 2018.
• Moody's upgrade (with P. Sahoo) - Financial Express, November 23, 2017.
• Does India get the credit it deserves? (with P. Sahoo) - East Asia Forum, July 1, 2017.
• Challenge to insulate masses from inflationary pressure (with P. Sahoo) - Deccan Herald, May 28, 2017.
• India's current credit rating does not reflect the stability of the economy (with P. Sahoo) - Hindustan Times, May 16, 2017.
• Overall, Trump's policies to impact India minimally (with Prabheesh K.P.) - Deccan Herald, March 9, 2017.
• Why the Indian economy needs a fiscal stimulus (with P. Sahoo) - Financial Express, January 25, 2017.
• Demonetisation: A mounting problem for banks (with P. Sahoo) - Financial Express, December 27, 2016.
• Donald Trump and Road Ahead (with P. Sahoo) - The Pioneer, December 16, 2016.
• Note ban: informal, unorganised sectors to take massive hit (with Prabheesh K.P.) - Deccan Herald, Novemeber 30, 2016.

Consultancy

• Institute of Economic Growth, Delhi (Feb 23 - Apr 24) [PI]
• Monash University, Australia (2023) [PI]
• Niti Aayog, GoI (Feb 24 - Apr 24) [PI]

Research Projects

• ICSSR project (2024 - 2025) [PI]

• HS201: Economics
• HS499: Introduction to Applied Econometrics

• HS647: Issues in International Finance
• HS662: Research Methods in Social Sciences
• DS505: Managerial Economics
• DS522: Time Series Analysis and Econometrics