Read my latest paper on the Great Indian Demonetisation Experiment here.
The analysis is based on a simple textbook version of a segmented markets model (Williamson 2011). I prepared this is as a teaching note and therefore is fairly non-technical. The reference to an older edition of Williamson’s brilliant text is because the segmented markets model has been dropped from its subsequent editions to accommodate latest macroeconomic developments in the developed world.
Williamson S (2011), Macroeconomics, Pearson.