Indian Institute of Management Calcutta

About: Indian Institute of Management Calcutta is a education organization based out in Kolkata, India. It is known for research contribution in the topics: Supply chain & Context (language use). The organization has 415 authors who have published 1354 publications receiving 21725 citations. The organization is also known as: IIMC & IIM Calcutta.

Entropy-Based Consumption Diversity—The Case of India

Abstract: In recent years, there has been growing research in analysing the spending diversification of households in applied demand analysis using disaggregated household-level data. Taking cue from Engel’s (Die Lebenskosten Belgischer Arbeiter Familien frfther und jetzt, Bulletin de l’institut international de statistique, tome IX, premiere livraison, Rome, 1895) findings that large share of income is spent on basic goods such as food for lower-income decile, the applied demand analysts also observed that with increasing income, there is an increase in spending on other non-food commodities, implying a hierarchical structure of consumption pattern. Evidences also supported positive correlation between household income and the dispersion of household spending both at cross-country-level analysis and at household-level analysis. These findings justify the use of consumption-based measures such as food share (Anand and Harris in Am Econ Rev 84:226–231, 1994) and consumption diversity (Clements et al. in Empirical Econ 31:1–30, 2006; Chai et al. in J Econ Surv 29:423–440, 2014) as indicators of household welfare. In this paper, we attempt to examine the stylized facts of behavioural heterogeneity across disaggregated commodity groups by employing entropy-based Theil’s measure. Using National Sample Survey household expenditure data of urban sector of four major states of India for the year 2011–2012, we show the extent to which income (measured through monthly per capita expenditure and thereby controlling household size) and other demographic characteristics such as number of children explain the variation in consumption diversity. We also capture commodity group-wise variations for explaining consumption diversity within commodity group by considering not only inherent characteristics of commodity groups such as income elasticity as control variables but also as random coefficient models varying randomly across commodity groups. The incorporation of between-commodity heterogeneity via random coefficient model is our contribution in this literature on consumption heterogeneity. The random coefficient models establish significant heterogeneity across commodity groups, mainly through intercept change, but not so much in income and demographic factors’ effect.

Real Exchange Rate and Real Interest Rate Differential: A Cointegration Approach with Structural Shifts

Abstract: Long term determinants of the movements in exchange rate have been an active interest area for both theoretical and empirical research. In this paper, we consider the long term relationship between exchange rates, inflation and interest rates. We find evidence that the purchasing power parity does not hold for the USD/INR exchange rate, which is consistent with previous research. We examine the relationship between real exchange rate and real interest rate differential between India and USA. We find weak evidence of cointegration between USD/INR real exchange rate, US real interest rate and Indian real interest rate. We also find no evidence of cointegration between USD/INR real exchange rate and real interest rate differential using standard cointegration tests. To make our analysis robust, we identify important structural shifts in the exchange rate and interest rates and introduce them in our analysis to test the cointegration between real exchange rate and real interest rates. After introducing structural shifts, we find new evidence of a long term equilibrium relationship between USD/INR real exchange rate and real interest rate differential between the two countries. The results of our study underscore the significance of monetary factors in predicting exchange rates in the long term as well as the role of structural shifts in long term time series analysis.

Logic Conflicts in Community-Based Palliative Care

Abstract: Community-based palliative care services and their integration with public health systems are of considerable contemporary interest. However, the conflicts that emerge in such a complex organizatio...

Online peer victimization

Abstract: The ubiquity of information technology offers a variety of opportunities for enhancing social interactions and peer relationships. Empirical evidence has showcased the bright side of social media a...