Indira Gandhi Institute of Development Research

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.

Agricultural trade regimes : impact on sector proportions, real incomes and hunger in the world

Abstract: In the article the consequences of agricultural trade liberalization are explored with the help of the Basic Linked System (BLS) of national models developed by the Food and Agricultural Program (FAP) of the International Institute for Applied Systems Analysis (IIASA). After a brief description of the model characteristics, the consequences of agricultural trade liberalization (1) by only the less developed contries, (2) by only the OECD countries, and (3) by all market economies are explored with respect to the impact on (a) the global market environment, (b) domestic relative prices, (c) sectoral composition, (d) real incomes, and (e) level of chronic hunger. The results of these model calculations indicate that a move to liberalized trade results in a small change in growth but that the impact on sectoral balance and hunger is significant, though not always favorable. Copyright 1988 by Oxford University Press.

Role and Framework of Monetary Policy in India

Abstract: Monetary policy has seen a great transformation both in terms of objective and instruments since quantity theory. In India also the objective as well as the instruments of monetary policy has changed over time with changing domestic and international macroeconomic scenario. My objective in this paper is to look into changing goal and framework of monetary policy in India.

Basel II and bank lending behavior: some likely implications for monetary policy

Abstract: The new Basel accord is slated to come into effect in India around 2007 raising the question of how the revised standards will influence bank behaviour. Using a simple theoretical model, it is shown that the revised accord will result in asymmetric differences in the efficacy of monetary policy in influencing bank lending. This will, however, depend on a number of factors, including whether banks are constrained by the risk-based capital standards, the credit quality of bank assets and the relative liquidity of banks’ balance sheets. The basic model is empirically explored using data on Indian commercial banks for the period 1996-2004. The analysis indicates that the effect of a contractionary monetary policy will be significantly mitigated provided the proportion of unconstrained to constrained banks in the system is significantly high.

Liquidity Considerations in Estimating Implied Volatility

Abstract: Option markets have significant variation in liquidity across different option series. Illiquidity reduces the informativeness of the price. Price information for illiquid options is more noisy, and thus the implied volatilities based on these prices are more noisy. In this paper, we propose a scheme to estimate implied volatility which reduces the importance attached to illiquid options. We find that this liquidity weighted scheme outperforms conventional schemes such as the traditional vxo, or vega weights, and volatility elasticity weights.

Name Ordering in Economics Publication

Abstract: Using data from an exhaustive list of journals for the 40 year period starting in 1969 we document the stylized facts in name ordering in Economics publication. We provide a theoretical model to explain the observed facts. Our model fits the data well. We show that contribution to the idea of a paper determines the name ordering of the authors rather than famous authors yielding their name to junior authors to increase the chance of publication.