Tarron Khemraj

Professor of Economics and International Studies, William & Marie Selby Chair - Economics - Environmental Studies - Interdisciplinary Programs - International and Area Studies - Public Policy - Quantitative Social Science - Social Sciences

Tarron Khemraj
  • Phone: (941) 487-4422
  • Email: tkhemraj@ncf.edu
  • Office Location: ACE 230
  • Mail Location: SSC 102

Ph.D., New School for Social Research
M.A. (Development Economics), University of Manchester
B.Soc.Sc., University of Guyana

My unorthodox research is motivated by questions I encountered while working as an economist at the Bank of Guyana and observation of ethno-political conflict in my country of birth. The leading monetary and macroeconomic journals had little to say about the monetary questions we faced at the central bank. I therefore dedicated my monetary research to understanding the issues of exchange-rate management by learning from an eclectic body of knowledge ranging from old-Keynesian Tobin-style macroeconomics to post-Keynesian – including Neo-Chartalist – literature, as well as American and Latin American Neo-Structuralists and Caribbean scholars. In general, my macroeconomics aims for external rather than internal consistency. Microeconomics is important for studying markets and industry-level behavior – not for a micro-foundation of macroeconomics.

The ethno-political contests I observed and experienced while formerly being involved in Guyanese politics and reading about similar bifurcated societies such as Trinidad and Tobago, Fiji, Sri Lanka, Northern Ireland and other places require that I consult the writings of political scientists, historians, anthropologists, sociologists and political economists.

My future research involves formalizing some of my earlier works asking how to achieve stable exchange rates in an independent monetary-policy framework and modeling ethno-political conflict using dynamic stock-flow models under authoritarian and democratic regimes. I am also interested in exploring and modeling exchange-rate policies in divided societies.

Recent Courses

  • Econometrics
  • Intermediate Microeconomics
  • International Economics
  • Money, Banking and Financial Markets
  • Understanding Capitalism

Selected Peer-Reviewed Publications

  • “Foreign exchange pressure in Barbados: monetary approach or monetary dependence?” Review of Political Economy, Vol. 31 (2), 2019 (co-author: Darrin Downes).
  • “Geography, economic structures and institutions: a synthesis,” Structural Change and Economic Dynamics, Vol. 51, December, 2019 (co-author: Collin Constantine).
  • “Exchange rate targeting and gold demand by central banks: modeling international reserves composition,” Emerging Markets Finance and Trade, Vol. 55 (1), 2019 (co-author: Aleksandr V. Gevorkyan).
  • “Monetary policy and excess liquid assets in small open developing economies.” In Handbook of Small States: Economic, Social and Environmental Issues (edited by L. Briguglio), London and New York: Routledge Taylor and Francis, 2018.
  • “The effectiveness of quantitative easing: new evidence on private investment,” Applied Economics, Vol. 48 (28), 2016 (co-author Sherry X. Yu).
  • “The political economy of Guyana’s underdevelopment,” Review of Black Political Economy, Vol. 43, September, 2016.
  • “The colonial origins of Guyana’s underdevelopment,” Social and Economic Studies, Vol. 64, No. 2&3, 2015.
  • Money, Banking and the Foreign Exchange Market in Emerging Economies, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, 2014.
  • “Bank liquidity preference and the investment demand constraint,” Economic Modelling, Vol. 33 (July), 2013.
  • “Analysis of an unannounced foreign exchange regime change,” Economic Systems, Vol. 36 (1), 2012 (co-author Sukrishnalall Pasha).
  • “Dual nominal anchors in the Caribbean,” Journal of Economic Studies, Vol. 39 (4), 2012 (co-author Sukrishnalall Pasha).
  • “What does excess bank liquidity say about the loan market in Less Developed Countries?” Oxford Economic Papers, Vol. 62 (1), 2010.