Research

Publications

• Salvatore, D., & Tripathi, J. S. (2025). International Trade and Economic Growth in the Era of Geoeconomic Fragmentation. Journal of Policy Modeling, 47(4), 862-879. [DOI]. [SSRN_WP].
  
• Tripathi, J. S., & Rengifo, E. W. (2025). FinTech, Fractional Trading, and Order Book Dynamics: A Study of US Equities Markets. FinTech, 4(2), 16. [DOI]. [SSRN_WP].
  
• Tripathi, J. S., & Rengifo, E. W. (2025). The Impact of Earnings Announcements Before and After Regular Market Hours on Asset Price Dynamics in the Fintech Era. Journal of Risk and Financial Management, 18(2), 75. [DOI]. [SSRN_WP].
  
• Salvatore, D., & Tripathi, J. S. (2024). Relationship between Trade and Growth for Developing Countries at Different Levels of Income. Journal of Policy Modeling, 46(4), 813-822. [DOI]. [SSRN_WP].
  
• Tripathi, J. S., & Rengifo, E. W. (2024). The Impact of Fractional Trading on Order Book Dynamics. Proceedings of the New York State Economics Association, 16, 95-104. [DOI].
  
• Tripathi, J. S. (2023). Trade-Growth Nexus: A Study of G20 Countries using Simultaneous Equations Model with Dynamic Policy Simulations. Journal of Policy Modeling, 45(4), 806-816. [DOI]. [SSRN_WP].
  
• Tripathi, J. S., & Rengifo, E. W. (2023). The Impact of Fractional Trading on Risk Aversion for Non-professional Investors. Finance Research Letters, 52, 103547. [DOI]. [SSRN_WP].
  
• Tripathi, J. S. (2016). Trade-Growth Nexus: A Study of G20 Countries. IOSR J Econ Finance, 7(3), 60-70. [DOI].
  
• Desai, N., & Tripathi, J. S. (2016). Rupee Exchange Rate Dynamics from 1993 to 2011: Study of Factors Driving the Exchange Rate. IOSR J Econ Finance, 7(2), 19-25. [DOI].
  

Working Papers

• The Impact of Tariffs and Supply Chain Disruption on Inflation and Household Budgets Across Income Levels and Regions in the US. (w/ Erick W. Rengifo). Submitted, Under Review. [SSRN_WP].
  Abstract: This paper examines how tariff-induced food and beverage inflation disproportionately burdens low- and middle-income U.S. households. Using WTO trade data and the Consumer Expenditure Survey, we show that the lowest income quintile allocates 32.6% of post-tax income to food while consuming only one-third the absolute quantity of top earners. To account for this vulnerability, we employ a non-homothetic Stone-Geary utility framework with a rigid subsistence floor. While standard homothetic models (Cobb-Douglas and CES) overstate consumer substitution capabilities amid real-world retail supply chain disruptions, the Stone-Geary model captures a severe “subsistence squeeze.” Our simulations show a 10% price shock that forces a regressive 17.0% budget burden on the lowest quintile compared to 5.3% for the highest, evaporating nearly all supernumerary income. Furthermore, by evaluating the exact income adjustments required to hold baseline utility constant, we demonstrate that targeted annual fiscal transfers of $265 per household under a reported spending baseline (Scenario A), and up to $550 under an institutional USDA Thrifty Food Plan baseline (Scenario B), are strictly required to restore welfare neutrality to the lowest income quintile. We advocate for these income-indexed transfer mechanisms to insulate vulnerable populations from modern trade policy shocks.
  

Work in Progress - Papers

• FinTech and Order Book Dynamics: Analyzing Liquidity and Volatility in Regular vs. Extended Market Hours. (w/ Erick W. Rengifo).
  
• The Impact of Tariffs and Supply Chain Disruption on Business Costs and Market Survival Across Firm Sizes in the US. (w/ Erick W. Rengifo).
  
• Regime Identification in the Limit Order Book in the FinTech Era. (w/ Rossen Trendafilov & Erick W. Rengifo).
  
• FX Markets Order Book Dynamics and Technical Analysis During the Covid-19 Crisis. (w/ Daniel Svogun).
  
• The Impact of Fractional Trading on Risk Aversion and Wealth Allocation Behavior for Non-professional Investors under the Prospect Theory Framework. (w/ Erick W. Rengifo).
  
• ESG and Its Impact on Investor Sentiment. (w/ Michael Gallagher & Erick W. Rengifo).
  
• Bond ETF Performance During the COVID-19 Crisis. (w/ Jay Surti).
  

Theses and Other Selected Projects

• Topics on Fractional Trading and Trade-Growth Nexus, 2023 [PhD Dissertation]
  
• Predicting COVID-19 Cases Using Google Community Mobility Report, 2020
  
• Trade-Growth Nexus: A Study of G20 Countries, 2016 [MSc Thesis]
  
• Performance Analysis and Estimation of Production Function for Indian Automobile Sector, 2015
  
• Magnetohydrodynamics and Dynamo Theory, 2014 [BSc Thesis]