- Phone: (941) 487-4422
- Email: email@example.com
- Office Location: ACE 230
- Mail Location: SSC 102
Associate Professor of Economics
William G. & Marie Selby Chair
Ph.D., New School for Social Research
M.A., University of Manchester
B.Soc.Sc., University of Guyana
Professor Khemraj is an applied economist. He regularly teaches courses in International Economics and Macroeconomics. His research, which is conducted in the fields of monetary economics, development economics, political economy and open economy macroeconomics, tends to be unorthodox instead of being fully mainstream or heterodox. He primarily studies problems pertaining to stabilization and growth in small open developing and emerging economies.
He currently serves as a Research Associate at Central Bank of Barbados and the Caribbean Centre for Money and Finance, University of the West Indies, Trinidad and Tobago. He writes numerous invited columns for the Stabroek News in Guyana and other media outlets. He also serves as external master’s and doctoral thesis examiner for University of West Indies, Cave Hill Campus, Barbados and University of Witwatersrand, Johannesburg, South Africa. He was actively involved in the politics of Guyana but has retired. Prior to coming to New College, he worked as a central bank economist and taught at St John’s University in New York and University of Guyana.
Introduction to Macroeconomics
Money, Banking and Financial Markets
Money, Banking and the Foreign Exchange Market in Emerging Economies, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, 2014.
“The effectiveness of Quantitative Easing: new evidence on private investment,” Applied Economics, forthcoming, 2016 (co-author Sherry X. Yu).
“The colonial origins of Guyana’s underdevelopment,” Social and Economic Studies, Vol. 64, No. 2&3, 2015.
“Bank liquidity preference and the investment demand constraint,” Economic Modelling, Vol. 33 (July), 2013.
“Dual nominal anchors in the Caribbean,” Journal of Economic Studies, Vol. 39, No. 2, 2012 (co-author Sukrishnalall Pasha).
“Analysis of an unannounced foreign exchange regime change,” Economic Systems, Vol. 36, No. 1, 2012 (co-author Sukrishnalall Pasha)
“What does excess bank liquidity say about the loan market in Less Developed Countries?” Oxford Economic Papers, Vol. 62, No. 1, 2010
“Excess liquidity and the foreign currency constraint: the case of monetary management in Guyana,” Applied Economics, Vol. 41, No. 16, 2009.
“The missing link: the finance-growth nexus and the Guyanese growth stagnation,” Social and Economic Studies, Vol. 57, Nos. 3&4, 2008
“Monetary policy and excess liquidity: the case of Guyana,” Social and Economic Studies, Vol. 56, No 3, 2007.
Peer-reviewed book chapters and working papers
“Determinants of non-performing loans in Guyana,” in A. V. Gevorkyan and O. Canuto (editors). Financial Deepening and Post-Crisis Development in Emerging Markets, London and New York: Palgrave Macmillan, 2016 (co-author: Sukrishnalall Pasha).
“Is there a role for independent monetary policy in Barbados?” Central Bank of Barbados Working Paper, WP 15/08, 2015 (co-authors: Kester Guy and Ashley Bobb).
“Excess liquidity, oligopolistic loan markets and monetary policy in LDCs.” Working Paper 64, Department of Economic and Social Affairs, United Nations, 2008.
“Okun’s law and jobless growth,” Policy Note No. 3, Schwartz Centre for Economic Policy Analysis, The New School for Social Research, March 2006 (co-authors: Willi Semmler and Jeff Madrick).
“Analysis of savings behavior in Guyana,” in A. Birchwood and D. Seerattan (editors). Finance and Real Development in the Caribbean, Caribbean Centre for Monetary Studies, University of the West Indies, 2006 (co-author: Anand Persaud).