Research Library

India’s Prime Minister Narendra Modi, once barred from entering the U.S., is getting a rock star welcome on his first trip here since being elected in May. “Am I the only India follower who is bored with Modi’s spectacle of a U.S. visit?” asks international economics fellow Russell Green. “The glitz is fun, but I am an economic policy wonk, and from my perspective, there is little to capture the imagination.”

Narendra Modi was sworn in as India’s new prime minister on Monday, a little over a week after a landslide victory at the polls. The resounding win gives Modi much greater freedom to implement his agenda than any Indian leader in recent years, says international economics fellow Russell Green. What will Modi’s India look like, and how will it affect the U.S.? Green, who spent four years in India as the U.S. Treasury Department’s first financial attaché to that country, explains.

Cancer drug shortages are almost uniquely associated with generic drugs (small profit margins) and rarely with patented drugs (large profit margins). They are common in the U.S., but uncommon in Europe and elsewhere, where generic drug prices are on average higher than in the U.S. This suggests the main cause of drug shortages is economic.

A proposed inflation targeting (IT) approach to monetary policy has generated vigorous debate in India, where inflation has not dropped much below 10 percent for the past eight years.