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Research. Google Scholar. RepEc. Book. In Service of the Republic: The Art and Science of Economic Policy by Vijay Kelkar and Ajay Shah, Penguin Allen Lane, 2nd edition, 2022. Edit. The Leap Blog. Writings and podcast episodes. In the media.
- The Conversations Shaping His Childhood
- Iitfort
- The Two-Winged Brain
- The Great Indian Reforms Call For Return
- The Outsiders Who Were Treated as Insiders
- The ‘50’ in Nifty 50
- Revisiting The Trade-Offs
- Not The ‘Normal’ Academic
Ajay grew up in Mumbai. His biggest single influence in his childhood was his father who was a thinker, an intellectual, and an economist. Ajay recalls, Ajay knew that for his father, the purpose of our existence is to understand the world, and in our own insignificant way, try to alleviate its suffering and make it a better place to live. Ajay imb...
Ajay went to IIT Bombay in 1983 to study Aeronautical Engineering. But what excited him more was Computer Engineering. At that time, computers were relatively rare at IIT Bombay. There was one Russian IBM 360 clone where students wrote programs with punch cards. Then came some of the first BBC Micros followed by Z80 CPM computers. In 1984-85, the f...
Ajay thinks that his brain has two parts that he nurtures: 1. The part that lives in Mathematics and Computer Science which makes him a child of the world of science and reason. 2. The other wing lives in the world of politics and thinks of the state, public policy, and ways to fix the world. He adds, Related read - Story of a programmer who fell i...
Ajay finished his PhD around the time when the great Indian reforms had begun. It made him think of going back to India and be a part of all that was happening. He moved back to India in 1993 and spent some years at the Centre for Monitoring Indian Economy (CMIE), Mumbai which works on building databases — on firms, geographically-distributed infor...
Around that time (1995), NSE project was starting up. Ajay recalls that R H Patil, who was the leader of the NSE project, was very welcoming and supportive. Even though Susan and Ajay had no formal role in the NSE project, they had the luxury of being treated as insiders and were invited for discussions. Ajay and Susan were a part of the early days...
To come up with NIFTY 50 index, Ajay and Susan took the following two observations into account: 1. The gains from diversification in the number of stocks in an index taper out quickly. So, you get diminishing returns as you add stocks into an index. 2. If you've an equally-weighted index, then the standard deviation goes down in proportion to 1/n....
Ajay and Susan wrote the code for simulating the management of the index, computing the diversification gains of the size of the index, and the measurement of the index cost. It took them three months overall and they wrote all of the code. Ajay says, NIFTY has been successful, and increasingly, the attention on NIFTY is in terms of the product. To...
Ajay and Susan later became a part of policy process around derivatives trading. Ajay recalls, NIFTY derivatives trading started in 2000 and the rest (other derivatives) in 2001. By then it was five years since Susan and Ajay started going around teaching and evangelising derivatives trading. Meanwhile, Ajay kept answering the tech support question...
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Articles 1–20. XKDR Forum - Cited by 3,320 - India - Macroeconomics - Finance - Health - Public administration.
Ajay Shah studied at IIT, Bombay and USC, Los Angeles. He has held positions at the Centre for Monitoring Indian Economy (Bombay), Indira Gandhi Institute for Development Research (Bombay) and the Ministry of Finance, and now works at NIPFP.
Oct 23, 2022 · (The first edition was In Service of the Republic: The art and science of economic policy by Vijay Kelkar and Ajay Shah, Penguin Allen Lane, 2019). Amazon.in , Flipkart , Goodreads . As a $3-trillion economy, India is on her way to becoming an economic superpower.
Positions Held. • Professor, National Institute for Public Finance and Policy, New Delhi (2007-2020) • Consultant, Department of Economic Affairs, Ministry of Finance, New Delhi, (2001-2005). • Assistant and then Associate Professor, IGIDR, Bombay (1995-2001).
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Ajay Shah is Executive Dean of the Faculty of Life Sciences & Medicine and the British Heart Foundation (BHF) Professor of Cardiology; James Black Professor of Medicine; Director of the King's BHF Centre of Research Excellence; and Hon. Consultant Cardiologist at King's College Hospital.
