Kislaya Prasad

Dr. Prasad is a Research Professor at the Robert H. Smith School of Business, University of Maryland. He received his Ph.D. in Economics and M.S. in Computer Science from Syracuse University. Previous positions include Professor of Economics at Florida State University and Research Officer at the University of Cambridge. His principal research focus is on the computability and complexity of individual decisions and economic equilibrium, innovation and diffusion of technology, and social influences on economic behavior.

How India's Currency Crisis Could Shape its Economy

A 500-rupee banknote. What's it like when 86 percent of the banknotes in circulation in a country are rendered worthless overnight? That's what India has been finding out. On the evening of Nov. 9, Indian Prime Minister Narendra Modi announced that, by morning, all 500 and 1,000 rupee notes would no longer be legal tender. The controversial move has sparked protests and criticism of a change too sudden and too poorly planned by the government. Up for debate now is what impact it will have on the Indian economy and on the prime minister's popularity. Read more...

The Science of Contracts Behind the 2016 Economics Nobel

Contracts help human beings do what at times seems impossible. They help us cooperate and trust each other. It’s not that we fundamentally don’t trust one another. It’s just that trust is a freer-flowing currency when agreements are backed by a contract. And that’s why contract theory became the premise for the 2016 Nobel prize for economics on Monday. Smith School professors Kislaya Prasad and Michael Faulkender help explain why the theory is so important. Read more...

India Goes Big to Lure Foreign Investment

Foreign firms doing business in India are “entering essentially 29 different countries,” Smith School professor Kislaya Prasad says. That’s because tax systems differ state to state in a market otherwise inherently attractive to foreign investment. But a revamping looms. India’s parliament advanced a goods and services tax on Monday that would reduce the complexity of doing business in India. Read more...

Is Globalism a Job Killer?

Britons spoke up about more than their country’s economic independence when they voted on June 23 to exit the European Union. The referendum also fed a larger debate, playing out in Europe and the United States, about the merits of globalism. Many people, concerned about trade and immigration policy, link globalism to the loss of national identity, security and prosperity. Smith School professor Kislaya Prasad offers five answers to a simple yes-or-no question: Is globalism a job killer? Read more...

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