Preface

 

Contributors to this Volume

 

 

 

 

Section I
Macroeconomics

1. Forecasting the Exchange Rate with a Bayesian
    Vector Auto Regression (BVAR) Model:
    The Indian Experience
    B.B. BHATTACHARYA 
    S. CHAKRAVARTY • MAHUA PAUL

    Introduction

 

    Bayesian Statistics

 

    Data and Variables

 

    Empirical Results

 

    Conclusions

 

 

 

 

 

2. Forecasting Indian Interest Rates Using
    Univariate and Multivariate Models
    PAMI DUA • NISHITA RAJE • SATYANANDA SAHOO

    Introduction

 

    Interest Rates and Monetary Policy
    in India: Some Stylised Facts

 

    Alternative Forecasting Models:
    A Brief Overview

 

    Estimation of Alternative Forecasting Models

 

    Conclusions

 

 

 

         
3. Macroeconomic Effects of Changes in Selected
    Monetary and Fiscal Variables: A Simulation
    Analysis for India
    A. SOUMYA • K.N. MURTY

    Introduction

 

    Literature Review

 

    Methodology

 

    Model

 

    Empirical Results

 

    Policy Simulations

 

 

 

 

4. Money Demand in the Indian Economy:
    A Time Varying Parameter Approach
    PAMI DUA • SRIVIDYA SUBRAMANIAM

    Introduction

 

    Specification of the Model

 

    Econometric Methodology

 

    Exploratory Analysis of the Data

 

    Empirical Results

 

    Summary and Conclusion

 

 

 

 

5. Search for Stable Money Demand Function for India:
    A Co-integration Approach
    A.K. GIRI • B. KAMAIAH

    Introduction

 

    Survey of Empirical Studies on
    Stability of Money Demand Function

 

    Empirical Evidence on Stability of
    Demand for Money in India

 

    Methodology: An Overview

 

    Empirical Results

 

    Concluding Remarks

 

 

 

 

6. Optimising Growth and Inflation: Some Empirical
    Results Relating to the Indian Economy Using
    Control Theory
    BALWANT SINGH • SUSHILA AUGUSTINE

    Introduction

 

    Basics and Modeling Strategy

 

    Real Sector

 

    Fiscal Sector

 

    Monetary Sector

 

    External Sector

 

    Prices

 

    Discussion

 

    The Cost Functional

 

    The Results

 

 

 

         
7. Comparing Measures of Core Inflation for India
    AJIT R. JOSHI • RAJASHREE RAJPATHAK

    Introduction

 

    Definition of Core Inflation

 

    Methods of Computing Core Inflation

 

    Database for the Study

 

    Core Measures based on Exclusion Principle

 

    Core Measures based on Trimming

 

    Unbiasedness and Volatility

 

    Co-integration with Headline Inflation

 

    Forecasting Ability

 

 

 

 

         
8. Endogenous Distribution, Politics and the Growth-Equity Tradeoff
    SATYA P. DAS • CHETAN GHATE

    Introduction

 

    The Basic Model

 

    Political and Non-Political Policies

 

    A General Income Tax

 

    Summary

 

 

 

 

         
9. Measuring Benefits from Reduced Air Pollution
    in the Cities of Delhi and Kolkata in India Using
    Hedonic Property Prices Model
    M.N. MURTY • S.C. GULATI • AVISHEK BANERJEE

    Introduction

 

    Choice of Functional Forms in Hedonic Price Models

 

    Data Sources and Design of Household Survey

 

    Model for Estimation and Measurement
    of Variables

 

    Estimates of Hedonic Property Value Model Under
    Alternative Functional Forms

 

    Inverse Demand Functions for Environmental Quality
    and Welfare Gains from Reduced Air Pollution

 

    Conclusions

 

 

 

 

    
10. Dynamics of Rice Production
      in Kerala: A Cobweb Approach
      K.P. MANI

      Introduction

 

      Cropping Pattern in Kerala

 

      Cropping Pattern- Inter District Analysis

 

      Materials and Methods

 

 

 

 

Section II
Welfare

         
11. Rural Poverty and Rural Infrastructure:
      The Case of India
      SIDDHARTHA MITRA •
      S.D. BRAHMANKAR • V. HANDA

      Introduction

 

      The Model

 

      Results

 

      Lessons

 

      Conclusions

 

 

 

 

    
12. Public Policy Stance and Human
      Development: A Panel Analysis
      LEKHA S. CHAKRABORTY

      Introduction

 

      Theoretical Issues Related to Public Policy
      Stance and Human Development: A Synoptic View

 

      Interpreting Data

 

      Specification of the Model and Econometric Results

 

      Conclusion

 

 

 

         
13. Maternal Health Care Utilisation:
      An Empirical Analysis Based on Rural India
      ANINDITA CHAKRABARTI

     Introduction

 

     Literature Review

 

     Data and Variables Used in the Analysis

 

     Empirical Methodology

 

     Results

 

     Conclusion

 

 

 

 

         
14. Quality of Health Care and Household Choice:
      Evidence from NSS and NFHS Data for the
      State of West Bengal
      SUBRATA MUKHERJEE

      Introduction

 

      Concept and Measurement
      of Health Care Quality

 

      Theoretical Framework: A
      Representative Individual

 

      Data Sources

 

      Evidence from NSS 52 and NFHS 2 Data

 

      Conclusion

     

 

 

15. Economic and Social Benefits of Micro-Finance
      Programmes: An Econometric Analysis
      D. RAJASEKHAR • S. MADHESWARAN

      Introduction

 

      Sources of Data

 

      Empirical Results

 

      Conclusions and Policy Implications

 

 

 

         
16. Repayment Performance of a Random
      Rosca in West Bengal
      SAMAPTI GUHA • GAUTAM GUPTA

      Introduction

 

      Factors Leading to Formation of Rosca

 

      Repayment Performance of Group Members

 

      The Comparison between Models

 

      Conclusion