Wednesday, April 20, 2011

21 April 2011: Efficient Estimation of Parameters in Marginals in Semipametric Multivariate Models

Valentyn Panchenko
University of New South Wales

Abstract:
Recent literature on semiparametric copula models focused on the
situation when the marginals are specified nonparametrically and the copula function is given a parametric form. For example, this setup is used in Chen, Fan and Tsyrennikov (2006) [Efficient Estimation of Semiparametric Multivariate Copula Models, JASA] who focus on efficient estimation of copula parameters. We consider a reverse situation when the marginals are specified parametrically and the copula function is modelled nonparametrically. This setting is no less relevant in applications. We use the method of sieve for efficient estimation of parameters in marginals and show its asymptotic distribution. Simulations suggest that the sieve MLE can be up to 40% more efficient relative to QMLE depending on the strength of dependence between marginals. An application using insurance company loss and expense data demonstrates empirical relevance of this setting.

Date: April 21, 2011
Time: 04:15 P.M.

Venue:
Seminar Room 2,
Indian Statistical Institute Delhi Centre,
7, S. J. S. Sansanwal Marg,
New Delhi-110016 (INDIA)

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28 April 2011: Public Financial Management Performance Assessment in India

Pratap Ranjan Jena
NIPFP

Abstract:
The presentation will be based on a study carried out at NIPFP in 2010, titled India: Public Expenditure and Financial Accountability -- Public Financial Management Performance Assessment Report. A brief write-up on the report is attached.

Date: April 28, 2011
Time: 03:30 P.M.

Venue:
Conference Room (1st Floor),
National Institute of Public Finance and Policy,
18/2 Satsang Vihar Marg, Special Institutional Area,
New Delhi-110067(INDIA)

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29 April 2011: Changes in Monetary Policy and Credit Demand - Panel Data Analysis for India and Some Emerging Market Economies

B. L. Pandit
ICRIER

Abstract:
The impact of changes in policy rates on the demand for bank credit and thereby on the pace of economic activity in emerging market economies like India, is an interesting question. EMEs in the sample are Brazil, India, Chile, Korea, Mexico, South Africa and Turkey. The period of study is 2002-2010— the post reform period, preceded by extensive reforms in banking and the financial sector. Citing greater degree of uncertainty surrounding economic activity in developing countries, it has been argued that since changes in policy rates are incremental in nature, these would be rather ineffective in initiating any substantive changes in the real sector. The recent surge in global capital flows in open EMEs has added another challenge to the very existence of an independent monetary policy. This paper is a part of a larger research project about monetary policy in India and some other EMEs. The specific question we address in this first study is ,to examine, to what extent do changes in policy rates influence the credit demand in EMEs. Using data from the panel of seven EMEs, GLS estimates are obtained by using Fixed Effect and Random Effect models. In contrast to the general perception, our data analysis and econometric results suggest a close association between the policy rate and credit demand and this association runs through what can be called policy rate channel- a hybrid of the traditional “interest rate channel” and “credit channel”.

Date: April 29, 2011
Time: 10:00 A.M.

Venue:
ICRIER Conference Room,
Core 6A, 4th Floor,
India Habitat Centre, Lodi Road,
New Delhi – 110 003(INDIA)

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26 April 2011: Does Participatory Development Mean Legitimisation of Cooption Mechanisms? Evidence from Karnataka Watershed Development Agency, India

G. Ananda Vadivelu
Institue of Economic Growth

Abstract:
While examining participatory development projects, existing contributions
have demonstrated how aid resources are often captured by local elites.
This paper hypothesises that another possible source of corruption is
collusion between Project implementers and farmers. This is examined with
evidence from the DFID funded Karnataka Watershed Development Agency
(KAWAD) project in Southern India. There is a need to develop mechanisms
for appropriate feedbacks and checks in India and this is an arena for
further research and praxis.

Date: April 26, 2011
Time: 03:00 P.M.

Venue:
New Seminar Room [First Floor],
Department of Economics,
Delhi School of Economics,
New Delhi-110007(INDIA)

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20 April 2011: Will the 'Demographic Dividend' Help India become a Superpower?

Jayan Jose Thomas
Indian Institue of Technology, Delhi

Abstract:
India has a relatively young population, and some commentators argue that the resultant ‘demographic dividend’ could push India’s economic growth ahead of China’s in the future. Since the 1990s, there has been a boom in India in the information technology industry as well as in a number of knowledge-intensive sectors such as pharmaceuticals research and animation. However, the other side of the coin is that these new, technologically advanced sectors form only a tiny island in the ocean in terms of employment. In India’s total workforce of 458 million (2004-05), factory sector workers number less than 10 million and the IT sector employs just 2.2 million. Almost all of the 57 million new jobs generated in India between 1999-00 and 2004-05 were in the informal sector. A crisis-ridden agriculture, construction, and low value-adding services, including notably of women employed as domestic workers, provided most of the new jobs. Women, especially educated women in urban areas, found it particularly hard to find suitable employment opportunities. The number of ‘missing women’ in the Indian economy -- women who withdraw from labour force and attend only to household work – was a staggering 162 million in 2004-05.

It is clear from the above that there are limitations to India’s rapid economic growth led almost entirely by the services sector. Building a diversified manufacturing sector that can generate massive employment opportunities is, therefore, crucial for Indian development. To fulfill India’s aspirations for a leading position in the global economy, the country will also have to emerge as a key player in innovation, and this requires state-directed efforts in research and development. The biggest of all challenges for India as it tries to realize its demographic dividend is to ensure that its population numbering more than 1.2 billion is healthy and educated.

Date: April 20, 2011
Time: 11:00 A.M.

Venue:
Seminar Hall-1 (Second Floor),
Institute for Defence Studies and Analyses,
1, Development Enclave,
Rao Tula Ram Marg,
New Delhi-110010(INDIA)

Location:

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21-22 April 2011: Promoting Fiscal Sustainability through Strengthening Fiscal Institutions and Medium-Term Budget Framework

Organised by:
NIPFP and IMF

Conference Program

Date: April 21-22, 2011

Venue:
Magnolia Hall
India Habitat Centre
Lodhi Road
New Delhi - 110 003 (INDIA)

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Monday, April 18, 2011

Friday, April 8, 2011

13 April 2011: Arogya Swaraj: An Empowerment Model of Health Care for Rural India

Abhay Bang
SEARCH

Date: April 13, 2011
Time: 05:00 P.M.

Venue:
Auditorium,
School of Social Sciences
Jawaharlal Nehru University
New Delhi - 110067

Location:

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Monday, April 4, 2011

7 April 2011: Public Financial Management Performance Assessment in India

Pratap Ranjan Jena
NIPFP

Abstract:
The presentation will be based on a study carried out at NIPFP in
2010, titled India: Public Expenditure and Financial Accountability --
Public Financial Management Performance Assessment Report. A brief
write-up on the report is attached.

Date: April 7, 2011
Time: 03:30 P.M.

Venue:
Conference Room (1st Floor),
National Institute of Public Finance and Policy,
18/2 Satsang Vihar Marg, Special Institutional Area,
New Delhi-110067(INDIA)

Location:

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