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Institution

Indira Gandhi Institute of Development Research

FacilityMumbai, Maharashtra, India
About: Indira Gandhi Institute of Development Research is a facility organization based out in Mumbai, Maharashtra, India. It is known for research contribution in the topics: Monetary policy & Inflation. The organization has 307 authors who have published 1021 publications receiving 18848 citations.


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TL;DR: This paper developed a conceptual framework with which to study contracting between small-holders and a commodity-processing firm and synthesize results from empirical studies of contract farming arrangements in five countries (Ghana, India, Madagascar, Mozambique, and Nicaragua).
Abstract: Supermarkets, specialized wholesalers, processors, and agro-exporters are transforming the marketing channels into which smallholder farmers sell produce in low-income economies. We develop a conceptual framework with which to study contracting between smallholders and a commodity-processing firm. We then synthesize results from empirical studies of contract farming arrangements in five countries (Ghana, India, Madagascar, Mozambique, and Nicaragua). The resulting meta-narrative documents patterns of participation, the welfare gains associated with participation, reasons for nonparticipation, the significant extent of contract noncompliance, and the considerable dynamism of these value chains as farmers and firms enter and exit frequently.

3 citations

Journal ArticleDOI
TL;DR: In this paper, the authors take a New Keynesian model with non-separable money in utility to Indian data using maximum likelihood and show that real balances do affect output and inflation even after correcting for money demand.
Abstract: In this paper we take a New Keynesian model with non-separable money in utility to Indian data using maximum likelihood. The identification problem in isolating the effect of money on output and inflation is solved by adjusting real balances for shifts in money demand. Estimates with an extended model with relevant features like partial indexation in prices, markup shock and time varying inflation target, show that real balances do affect output and inflation even after correcting for money demand unlike results for the United States and Eurozone. A regression estimate and multivariate structural vector autoregression give similar results. Types of money matter. Reserve money has the largest impact, pointing to the importance of the informal sector. The estimated income elasticity of narrow money is more than twice that of broad money, pointing to the dependence of firms on banks. Interest semi elasticity of money demand is close to one. Responsiveness of output to real interest rate is high. We find that interest rate setting is quite persistent. Coefficient of lagged interest rate varies from 0.71 to 0.95. We conclude that there is a significant asymmetry in the role of money in India (an emerging economy) in comparison to United States and Eurozone (advanced economies).

3 citations

Journal ArticleDOI
TL;DR: The authors quantitatively analyse monetary policy statements of the Reserve Bank of India (RBI) from 1998 to 2017, across the regimes of five governors, and find that while RBI's monetary policy communication is linguistically complex on average, the length and readability has improved significantly in the recent years.
Abstract: In this paper we quantitatively analyse monetary policy statements of the Reserve Bank of India (RBI) from 1998 to 2017, across the regimes of five governors. We first ask whether the content and focus of the statements have changed with the adoption of inflation-targeting as a framework for conducting monetary policy. Next, we study the influence of various aspects of monetary policy communication on financial markets. Using natural language processing tools, we construct measures of linguistic and structural complexity that capture governor-specific trends in communication. We find that while RBI’s monetary policy communication is linguistically complex on average, the length of monetary policy statements has gone down and readability has improved significantly in the recent years. We also find that there has been a persistent semantic shift in RBI’s monetary policy communication since the adoption of inflation-targeting. Finally, using a simple regression model we find that lengthier and less readable statements are linked to both higher trading volumes and higher returns volatility in the equity markets, though the effects are not persistent.

3 citations

Journal Article
TL;DR: In this article, the authors examined the growth of real wages of wage-labor in the unorganized sector in India excluding agriculture and found that workers in urban areas have significantly gained but not necessarily in rural areas.
Abstract: Had the recent high growth of the Indian economy benefitted the unorganized workers excluding the self employed? The present study attempts to examine this question using results from the two NSS surveys separated by 5 years (2004-05 and 2009-10).The paper examines the growth of real wages of wage-labor in the unorganized sector in India excluding agriculture. Two standard worker categories are studied here, namely, regular wage workers and casual workers. The real wage change overtime in the case of male and female workers within sectors is the subject of the analysis. The results are rather mixed but encouraging. Workers in urban areas have significantly gained but not necessarily in rural areas. It shows that high economic growth could benefit both regular and casual workers.

3 citations

Journal ArticleDOI
TL;DR: In this article, the authors tried to shift the focus from supply augmentation to demand management by analyzing the existing pricing policy mechanism and suggest different tariffs based on long-rang marginal costs.
Abstract: Electricity consumption in India is increasing rapidly. The increased demand forces the electricity boards to increase their generating capacity. The huge investments in generation, transmission, and distribution (at the cost of alternative development projects) adversely affect India's foreign exchange reserves. Also, internal resources like coal are utilized at great risk to the environment This article tries to shift the focus from supply augmentation to demand management by analyzing the existing pricing policy mechanism and suggests different tariffs based on long-rang marginal costs. It is shown that the “economic pricing” based on long-run marginal costs is an indicator of efficient utilization of resources.

3 citations


Authors

Showing all 320 results

NameH-indexPapersCitations
Seema Sharma129156585446
S.G. Deshmukh5618311566
Rangan Banerjee482898882
Kankar Bhattacharya462178205
Ramakrishnan Ramanathan431306938
Satya R. Chakravarty341445322
Kunal Sen332513820
Raghbendra Jha313353396
Jyoti K. Parikh311103518
Sajal Ghosh30727161
Tirthankar Roy251802618
B. Sudhakara Reddy24751892
Vinish Kathuria23961991
P. Balachandra22652514
Kaivan Munshi22625402
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Performance
Metrics
No. of papers from the Institution in previous years
YearPapers
202310
20225
202143
202027
201945
201844