Discover and read the best of Twitter Threads about #EvidenceOnDemon
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For the record, I supported Demonetization when I was NOT YET CEA. I've always formed my views using empirical evidence even if it meant standing alone based on my courage of conviction. So, to help evidence-based assessments, putting out a #Thread on #EvidenceOnDemon 1/12
Data from World Inequality Database shows inequality ↑ in India from 2004-14, when share of wealthy top 1% in national income ↑ from 18.4% to 21.3% but share of bottom 50% ↓ from 18.8% to 14.7%. Why? ↑ in cronyism & corruption from 2004-14. See indiabudget.gov.in/budget2020-21/… 2/12 
Unlike the ↑ in inequality from 2004-14, demon had the effect of redistributing wealth from the rich to the poor. See sciencedirect.com/science/articl…. These findings, which carefully control for various confounding factors, suggest that demon would have helped to ↓ inequality. 3/12
