Webinar Link

Meeting No: 2514 525 6600
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Asbtract

Monetary and fiscal policies play a central role in shaping income distribution within an economy. Fiscal tools—such as progressive taxation, social transfers, and public expenditure—directly influence the redistribution of wealth by reallocating resources toward lower-income groups. Monetary policy affects redistribution indirectly through interest rates, inflation, and employment levels, which shape real incomes and asset values. The interaction of these policies determines overall economic inequality, with coordinated approaches enhancing their effectiveness. The webinar will examine how these policy design, institutional frameworks, and macroeconomic conditions mediate redistribution outcomes, highlighting the need for balanced strategies to promote equity and sustainable economic growth.

About the Speaker

Ashima Goyal

Ashima Goyal is Advisor at EGROW Foundation. She has provided consultancy to ADB, DEA, GDN, UNDP, RBI, UN ESCAP and WB. She is active in the Indian policy debate; and has served on several government committees, including the Economic Advisory Council Prime Minister and the RBI technical advisory committee for monetary policy, and boards of educational and of financial institutions. She is former Member of RBI's Monetary Policy Committee, an independent director at Edelweiss Financial Services and SBI General Insurance.

Ashima Goyal edits a Routledge journal in macroeconomics and finance and contributes a monthly column to the Hindu Business Line. She was a visiting fellow at the Economic Growth Centre, Yale University, USA, and a Fulbright Senior Research Fellow at Claremont Graduate University, USA. Her research has received national and international awards. She won two best research awards at GDN meetings at Tokyo (2000) and Rio de Janeiro (2001), was selected as one of the four most powerful women in economics, a thought leader, by Business Today (2008); was the first Professor P.R. Brahmananda Memorial Research Grant Awardee for a study on History of Monetary Policy in India since Independence (2011), which was published by Springer in 2014; received the SKOCH Challenger Award for Economic Policy (2017); Hindu College OSA Distinguished Alumni Award and 20th FLO FICCI GR8 Beti Award for Excellence in Economics (2018).

Ashima Goyal is widely published in institutional and open economy macroeconomics, international finance and governance, with more than a hundred articles in national and international journals. She has also authored and edited a number of books including Macroeconomics and Markets in Developing and Emerging Economies (Routledge: UK. 2017) and A Concise Handbook of the Indian Economy in the 21st Century (OUP: India, 2019).

Yoosoon Chang

Dr. Yoosoon Chang is a Professor of Economics and Executive Director of the Economic Machine Learning (EML) Lab at Indiana University, with a Ph.D. in Economics from Yale University. She serves as an Advisor to the Stone Center for Research in Wealth Inequality and Mobility at the University of Chicago and served as President of the Korea America Economic Association. She also serves as Coordinator of the Midwest Econometrics Group (MEG) and Co-organizer of the Symposium of Econometric Theory and Applications (SETA). Her research develops cutting-edge time series, panel data, and machine learning methodologies to address critical economic challenges including income inequality, climate change, and monetary policy effects. She has pioneered applications of functional time series and regime-switching models to analyze intergenerational mobility and policy impacts on income distribution. Her work has been published in premier journals including Review of Economic Studies, Quantitative Economics, and Journal of Econometrics, and has been funded by the National Science Foundation and international agencies. She holds editorial positions at top economics journals including Journal of Economic Literature, Journal of Econometrics, and Journal of Applied Econometrics, and is an elected fellow of the Journal of Econometrics and International Association for Applied Econometrics. Dr. Chang has delivered keynote and invited talks at major international conferences, including the 2025 World Knowledge Forum where she presented research based on this paper and moderated a session by 2024 Nobel laureate James Robinson; former Canadian Prime Minister Justin Trudeau presented a keynote at the same forum.