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.

Affordability, Housing Demand and Housing Policy in Urban India:

Abstract: Designing housing policies and programmes requires a careful estimation of household affordability and demand for housing. The efficiency of housing subsidies would depend on price elasticities of housing demand. Different households have different perceptions of housing demand based on their economic and demographic factors. We estimate the demand function of housing for urban India using step econometric analysis. The first step estimates the hedonic price index for states and in the second step the demand for housing is estimated as a function of economic and household characteristics. The problem of multicollinearity is observed with the data. Ridge regressions are used to correct for multicollinearity and to obtain efficient estimates. The results indicate that the housing demand is inelastic with respect to income and price. The income elasticity is 0.75 while price elasticity is slightly less than — 1. A further analysis to estimate income and price elasticities for different income classes as well...

Trade Reforms, Labor Regulations and Labor-Demand Elasticities: Empirical Evidence from India

Abstract: Using industry-level data disaggregated by states, this paper finds a positive impact of trade liberalization on labor-demand elasticities in the Indian manufacturing sector. These elasticities turn out to be negatively related to protection levels that vary across industries and over time. Furthermore, we find that these elasticities are not only higher for Indian states with more flexible labor regulations, they are also impacted to a larger degree by trade reforms. Finally, we find that after the reforms, volatility in productivity and output gets translated into larger wage and employment volatility, theoretically a possible consequence of larger labor-demand elasticities.

A multivariate cointegrating vector auto regressive model of freight transport demand: evidence from Indian railways

Abstract: In this paper long run structural relationship for freight transport demand is derived for railways in India using annual time series data for 1960–1995. Some of the recent developments in multivariate dynamic econometric time series modelling have been employed such as estimation of long-run structural cointegrating relationship, short-run dynamics and measurement of the effects of shocks and their persistence during the evolution of dynamic freight transport demand system. The models are estimated using a cointegrating vector autoregressive (VAR) modelling framework, which allows for endogeneity of regressors. Results indicate high GDP elasticity and low price elasticity, with real freight rate, i.e. the price variable behaving exogenously with respect to the system. Any disequilibrium in the short-run is likely to be corrected in the long run via adjustments in freight transport demand and GDP. Further, the demand system seems to be stable in the long run and converges to equilibrium in a period of around 3 years after a typical system-wide shock.

Smallholder Participation in Agricultural Value Chains: Comparative Evidence from Three Continents

Abstract: Supermarkets, specialized wholesalers, and processors and agro-exporters’ agricultural value chains have begun to transform the marketing channels into which smallholder farmers sell produce in low-income economies We develop a conceptual framework through which to study contracting between smallholders and a commodity-processing firm We then conduct an empirical meta-analysis of agricultural value chains in five countries across three continents (Ghana, India, Madagascar, Mozambique, and Nicaragua) We document patterns of participation, the welfare gains associated with participation, reasons for non-participation, the significant extent of contract non-compliance, and the considerable dynamism of these value chains, as farmers and firms enter and exit frequently