Institution
Indira Gandhi Institute of Development Research
Facility•Mumbai, 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.
Papers published on a yearly basis
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01 Jan 2013
TL;DR: In this paper, an alternative method to infer potential growth, and use it to derive the Indian monetary policy stance based on estimated linear and Markov switching policy rules, is proposed.
Abstract: We propose an alternative method to infer potential growth, and use it to derive the Indian monetary policy stance based on estimated linear and Markov switching policy rules. We define growth to reach potential if a second round pass through of supply shocks to inflation occurs. Growth reached potential only in 2007-08 when growth exceeded 9 percent. Conventional measures of potential growth support the conclusions. Estimates with a two-variable Vector Auto Regression show multiple supply shocks, not second round effects, largely explain inflation. A one percent underestimate of potential output leads to a 25 basis point rise in policy rates.
10 citations
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TL;DR: The authors show the dominance of supply shocks, amplified by macroeconomic policies and procyclical current accounts, in South Asia and show that a gradual middling through approach to openness and market development are helping the region absorb shocks without reducing growth.
Abstract: Stylized facts for South Asia show the dominance of supply shocks, amplified by macroeconomic policies and procyclical current accounts. Interest and exchange rate volatility rose initially on liberalization, but fell as markets deepened. A gradual middling through approach to openness and market development are helping the region absorb shocks without reducing growth. Diverse sources of demand, flexible exchange rates, robust domestic savings, and changing political preferences are contributing. Countercyclical policy more suited to structure, and removal of distortions raising costs, would allow better coordination of monetary and fiscal polices to further support the process.
10 citations
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TL;DR: In this article, the authors study the relationship between levels of effective protection and total factor productivity growth (TFPG) and find that increasing effective rates of protection was not associated with lower TFPG.
Abstract: In this paper we study the comparative performance of Indian manufacturing industries during relatively recent periods of domestic regulation and de-regulation of plant entry. The period of de-regulation is accompanied by largely unchanging levels of import competition and higher output growth. The growth of labour and total factor productivity (TFPG) is observed to be higher during the deregulation period. We use data on 42 three-digit manufacturing industries. Our sample covers consumer, intermediate and capital good industries. We study the relationship between levels of effective protection and total factor productivity growth (TFPG). We found that increasing effective rates of protection was not associated with lower TFPG. We test the hypothesis that higher degree of trade protection induces greater entry of plants. This hypothesis is statistically supported. Our econometric estimates found a positive association between net entry and TFPG, after controlling for inter-industry differences in effective protection, asset size of plants and demand growth. Our results support the proposition that competition positively contributes to TFPG during deregulation.
10 citations
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TL;DR: In this paper, the authors explain three widely-held "stylised facts" about the recent history of north Indian classical music: in the precolonial period, music and musicians were patronised by the courts, from the early colonial period patronage declined and music tended to be commercialised.
Abstract: This paper attempts to explain three widely-held 'stylised facts' about the recent history of north Indian classical music. First, in the precolonial period, music and musicians were patronised by the courts. Second, from the early colonial period patronage declined and music tended to be commercialised. And third, in the process, accumulated knowledge and the quality of crafts manship decayed. In a received view in music scholarship, the transition from patronage to market involved an institutional change and a diffusion of teaching from 'family' to out siders. Decay is attributed to the consequent reluctance of masters to teach well. The paper disputes this view. It suggests that the decay can be seen as an imperfect adaptation by individuals to the changing economic environment, and that this is a more general phenomenon than music scholarship believes. On the other hand, in the instructional system, which was primarily apprenticeship, there was substantial continuity. In this interpretation, music history can be seen to belong to a larger history of north Indian craftsmanship. The paper illustrates this proposition by drawing on the experiences of other skilled urban crafts.
10 citations
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TL;DR: In this article, the authors explored the implications of private storage and subsidized distribution of foodgrain for price stabilization policies in India through simulation exercises, and used a multi-market equilibrium approach to incorporate the simultaneity in the determination of supply and demand for the three major cereals.
10 citations
Authors
Showing all 320 results
Name | H-index | Papers | Citations |
---|---|---|---|
Seema Sharma | 129 | 1565 | 85446 |
S.G. Deshmukh | 56 | 183 | 11566 |
Rangan Banerjee | 48 | 289 | 8882 |
Kankar Bhattacharya | 46 | 217 | 8205 |
Ramakrishnan Ramanathan | 43 | 130 | 6938 |
Satya R. Chakravarty | 34 | 144 | 5322 |
Kunal Sen | 33 | 251 | 3820 |
Raghbendra Jha | 31 | 335 | 3396 |
Jyoti K. Parikh | 31 | 110 | 3518 |
Sajal Ghosh | 30 | 72 | 7161 |
Tirthankar Roy | 25 | 180 | 2618 |
B. Sudhakara Reddy | 24 | 75 | 1892 |
Vinish Kathuria | 23 | 96 | 1991 |
P. Balachandra | 22 | 65 | 2514 |
Kaivan Munshi | 22 | 62 | 5402 |