Arvind Subramanian
Peterson Institute for International Economics
Abstract:
This paper sheds light on two problems in the Penn World Table (PWT) GDP
estimates. First, we show that these estimates vary substantially across
different versions of the PWT despite being derived from very similar
underlying data and using almost identical methodologies, that this variability
is systematic; and that it is intrinsic to the methodology deployed by the PWT
to estimate growth rates. Moreover, this variability matters for the
cross-country growth literature. While growth studies that use low frequency
data remain robust to data revisions, studies that use annual data are less
robust. Second, thePWT methodology leads to GDP estimates that are not valued
at purchasing power parity (PPP) prices. This is surprising because the raison
d'etre of the PWT is to adjust national estimates of GDP by valuing output at
common international (purchasing power parity [PPP]) prices so that the
resulting PPP-adjusted estimates of GDP are comparable across countries. We
propose an approach to address these two problems of variability and valuation.
Date: March 1, 2011
Time: 03:30 P.M.
Venue:
Seminar Room 2,
Indian Statistical Institute Delhi Centre,
7, S. J. S. Sansanwal Marg,
New Delhi-110016 (India)
Location:
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Monday, February 28, 2011
4 March 2011: Urbanization and Land Markets in India
Dipak Dasgupta
Ministry of Finance
Abstract:
Paper will discuss developments and drivers in both and some
institutional and policy challenges in financing urbanization.
Date: March 4, 2011
Time: 03:30 P.M.
Venue:
NIPFP Auditorium,
National Institute of Public Finance and Policy,
18/2 Satsang Vihar Marg, Special Institutional Area,
New Delhi-110067(INDIA)
Location:
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Ministry of Finance
Abstract:
Paper will discuss developments and drivers in both and some
institutional and policy challenges in financing urbanization.
Date: March 4, 2011
Time: 03:30 P.M.
Venue:
NIPFP Auditorium,
National Institute of Public Finance and Policy,
18/2 Satsang Vihar Marg, Special Institutional Area,
New Delhi-110067(INDIA)
Location:
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Tuesday, February 22, 2011
24 February 2011: Axiom of Monotonicity: An Experimental Test
Tridib Sharma
Centro de Investigación Económica, ITAM, Mexico and
Visiting Faculty, ISI, Delhi
Abstract:
The Axiom of Monotonicity (AM) is a necessary condition for a number of
expected utility representations, including those obtained by de Finetti
(1930), von Neumann and Morgenstern (1944) and Savage (1954). The paper
reports on experiments that directly test AM by eliminating strategic
uncertainty, context, and peer effects. In this sterile and simple
environment we do not observe AM violations under uncertainty but we do
observe violations under ambiguity.
Date: February 24, 2011
Time: 03:00 P.M.
Venue:
New Seminar Room [First Floor],
Department of Economics,
Delhi School of Economics,
New Delhi-110007(INDIA)
Location:
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Centro de Investigación Económica, ITAM, Mexico and
Visiting Faculty, ISI, Delhi
Abstract:
The Axiom of Monotonicity (AM) is a necessary condition for a number of
expected utility representations, including those obtained by de Finetti
(1930), von Neumann and Morgenstern (1944) and Savage (1954). The paper
reports on experiments that directly test AM by eliminating strategic
uncertainty, context, and peer effects. In this sterile and simple
environment we do not observe AM violations under uncertainty but we do
observe violations under ambiguity.
Date: February 24, 2011
Time: 03:00 P.M.
Venue:
New Seminar Room [First Floor],
Department of Economics,
Delhi School of Economics,
New Delhi-110007(INDIA)
Location:
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Friday, February 18, 2011
22 February 2011: Spatializing Knowledge in Urban Governance
Isa Baud
University of Amsterdam
N. Sridharan
School of Planning and Architecture
Abstract:
New forms of urban governance require Indian local bodies to work increasingly
with other partners from private sector and civil society organisations. Such
networks also demand spatialized knowledge to provide legitimacy in
negotiations for setting priorities, and for making processes transparent and
effective. Such knowledge is available in many formats (expert, embedded,
tacit, community-based), but not always recognized or generated in a usable
form. Spatializing knowledge provides a means to link different types of
knowledge to one locality to promote common understanding, potentially
increasing legitimacy in decision-making. This presentation reports on methods
developed in the Netherlands-India research programme on ‘Utilizing spatial
knowledge in urban governance networks’, being carried out in four cities in
India. The presentation will discuss the potential of the tools developed so
far for more participatory urban governance networks.
Date: February 22, 2011
Time: 03:45 P.M.
Venue:
Conference Hall,
Centre for Policy Research,
Dharma Marg, Chanakyapuri,
New Delhi–110021(INDIA)
Location:
University of Amsterdam
N. Sridharan
School of Planning and Architecture
Abstract:
New forms of urban governance require Indian local bodies to work increasingly
with other partners from private sector and civil society organisations. Such
networks also demand spatialized knowledge to provide legitimacy in
negotiations for setting priorities, and for making processes transparent and
effective. Such knowledge is available in many formats (expert, embedded,
tacit, community-based), but not always recognized or generated in a usable
form. Spatializing knowledge provides a means to link different types of
knowledge to one locality to promote common understanding, potentially
increasing legitimacy in decision-making. This presentation reports on methods
developed in the Netherlands-India research programme on ‘Utilizing spatial
knowledge in urban governance networks’, being carried out in four cities in
India. The presentation will discuss the potential of the tools developed so
far for more participatory urban governance networks.
Date: February 22, 2011
Time: 03:45 P.M.
Venue:
Conference Hall,
Centre for Policy Research,
Dharma Marg, Chanakyapuri,
New Delhi–110021(INDIA)
Location:
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Thursday, February 17, 2011
24 February 2011: Self-Help Groups: Some Reflections from the Field in Andhra Pradesh
Howard White
3ie
Abstract:
Self Help Groups have grown very rapidly in the last ten years, notably in
Andhra Pradesh. The model is now being replicated more widely across India.
This presentation draws on fieldwork in Andhra Pradesh in 2005-7 as to the
workings of SHGs.
Whilst these groups succeeded in channeling substantial resources into
villages via project funds and bank linkages, they were not without problems
of corruption, exclusion and failing to improve the livelihoods of the poorest
groups.
Date: February 24, 2011
Time: 12:30 P.M.
Venue:
Second Floor Conference Room,
The World Bank,
70 Lodi Estate,
New Delhi-110003(INDIA)
Location:
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3ie
Abstract:
Self Help Groups have grown very rapidly in the last ten years, notably in
Andhra Pradesh. The model is now being replicated more widely across India.
This presentation draws on fieldwork in Andhra Pradesh in 2005-7 as to the
workings of SHGs.
Whilst these groups succeeded in channeling substantial resources into
villages via project funds and bank linkages, they were not without problems
of corruption, exclusion and failing to improve the livelihoods of the poorest
groups.
Date: February 24, 2011
Time: 12:30 P.M.
Venue:
Second Floor Conference Room,
The World Bank,
70 Lodi Estate,
New Delhi-110003(INDIA)
Location:
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Wednesday, February 16, 2011
21 February 2011: India and the World - The Economic Dimension
Dr. Sanjaya Baru
IISS
Abstract:
Graduating from the post-colonial phase of its interaction with the world and
re-orienting its foreign policy to deal with the post- Cold War world, India
discovered that its re-emergence as a major economic entity in the global
system is increasingly shaping its grand strategy. India's rise as a major
power is intrinsically linked to its rise as a major economy.
Two ideas and two phenomenon have shaped this thinking. The first idea is the
concept of Comprehensive National Power (CNP); second, the idea of
'inter-dependence', as opposed to 'dependence', in a globalised world economy.
The two phenomenon are, first, the collapse of the Soviet Union and rise of
China, based on theories of CNP and inter-dependence; and, second, the growing
influence of the business and middle classes in shaping Indian foreign policy.
India's attempts to build a CNP series (Index of National Security), the range
of FTA/ CECA and CEPA, the economic component of a range of strategic
partnerships help quantify the importance of economic development and openness
to India¡'s grand strategy. An Index of Bilateral Relationship (IBR) based on
people-to-people, business-to-business and government-to-government relations
would therefore offer a more balanced picture of the relative importance of
India's emerging strategic partnerships.
Date: February 21, 2011
Time: 4:00 P.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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IISS
Abstract:
Graduating from the post-colonial phase of its interaction with the world and
re-orienting its foreign policy to deal with the post- Cold War world, India
discovered that its re-emergence as a major economic entity in the global
system is increasingly shaping its grand strategy. India's rise as a major
power is intrinsically linked to its rise as a major economy.
Two ideas and two phenomenon have shaped this thinking. The first idea is the
concept of Comprehensive National Power (CNP); second, the idea of
'inter-dependence', as opposed to 'dependence', in a globalised world economy.
The two phenomenon are, first, the collapse of the Soviet Union and rise of
China, based on theories of CNP and inter-dependence; and, second, the growing
influence of the business and middle classes in shaping Indian foreign policy.
India's attempts to build a CNP series (Index of National Security), the range
of FTA/ CECA and CEPA, the economic component of a range of strategic
partnerships help quantify the importance of economic development and openness
to India¡'s grand strategy. An Index of Bilateral Relationship (IBR) based on
people-to-people, business-to-business and government-to-government relations
would therefore offer a more balanced picture of the relative importance of
India's emerging strategic partnerships.
Date: February 21, 2011
Time: 4:00 P.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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Tuesday, February 15, 2011
18 February 2011: Trading Intentions and Behavioral Bidders in First-Price Auctions
Anmol Ratan
Monash University
Abstract:
I propose a model of loss-averse bidders with endogenous trading intentions. Endowment effect has been widely reported in laboratory settings (Knetsch 1989, Tversky and Kahneman 1991, Loewenstein and Adler 1995, Kahneman, Knetsch and Thaler 1990, Benartzi and Thaler 1995, Camerer 1995, List 2003, 2004). Recently such preferences have been applied to auction settings which suggest that differences can arise between the laboratory induced value and real commodity auctions due to anticipated loss aversion (Lange and Ratan 2010). Another implication of such preferences is that in the presence of outside markets for auction commodity, such preferences will affect bidding: differences in access to outside markets would then affect trading intentions and produce differences from neoclassical predictions.
In a stylized first-price auction, I show that bidders with advantageous access to outside markets are least affected by anticipated loss-aversion and bid closer to neoclassical predictions while bidders with less advantageous access to outside markets are more affected by anticipated loss-aversion and bid differently from neoclassical predictions. If market access is interpreted as a proxy for market experience, the results support the findings in List (2003, 2004).
This paper makes the following contributions to the literature: first, it highlights the implications of endogenously determined trading intentions for bidding in real commodity auctions. Because such effects are not relevant for induced value auctions, it suggests an additional difference between field and induced value auctions. These findings have potentially significant implications for the interpretation of laboratory data and transferring qualitative insights to bidding in real commodity auctions (List and Harrison 2004; Lange and Ratan 2010). Second, extending the effect of endogenous trading intentions to other auction contexts can explain puzzling phenomenon; especially towards understanding incremental bidding in online auctions where low transaction and communication costs have expanded the trading opportunities for real commodities. Third, the paper suggests that in my framework, innate differences in preferences are not required to produce differences between the laboratory and real commodity auctions; this calls for a careful reinterpretation of List’s (2003, 2004) findings which suggest previous market experience could alter preferences.
Date: February 18, 2011
Time: 03:00 P.M.
Venue:
New Seminar Room [First Floor],
Department of Economics,
Delhi School of Economics,
New Delhi-110007(INDIA)
Location:
View Larger Map
Monash University
Abstract:
I propose a model of loss-averse bidders with endogenous trading intentions. Endowment effect has been widely reported in laboratory settings (Knetsch 1989, Tversky and Kahneman 1991, Loewenstein and Adler 1995, Kahneman, Knetsch and Thaler 1990, Benartzi and Thaler 1995, Camerer 1995, List 2003, 2004). Recently such preferences have been applied to auction settings which suggest that differences can arise between the laboratory induced value and real commodity auctions due to anticipated loss aversion (Lange and Ratan 2010). Another implication of such preferences is that in the presence of outside markets for auction commodity, such preferences will affect bidding: differences in access to outside markets would then affect trading intentions and produce differences from neoclassical predictions.
In a stylized first-price auction, I show that bidders with advantageous access to outside markets are least affected by anticipated loss-aversion and bid closer to neoclassical predictions while bidders with less advantageous access to outside markets are more affected by anticipated loss-aversion and bid differently from neoclassical predictions. If market access is interpreted as a proxy for market experience, the results support the findings in List (2003, 2004).
This paper makes the following contributions to the literature: first, it highlights the implications of endogenously determined trading intentions for bidding in real commodity auctions. Because such effects are not relevant for induced value auctions, it suggests an additional difference between field and induced value auctions. These findings have potentially significant implications for the interpretation of laboratory data and transferring qualitative insights to bidding in real commodity auctions (List and Harrison 2004; Lange and Ratan 2010). Second, extending the effect of endogenous trading intentions to other auction contexts can explain puzzling phenomenon; especially towards understanding incremental bidding in online auctions where low transaction and communication costs have expanded the trading opportunities for real commodities. Third, the paper suggests that in my framework, innate differences in preferences are not required to produce differences between the laboratory and real commodity auctions; this calls for a careful reinterpretation of List’s (2003, 2004) findings which suggest previous market experience could alter preferences.
Date: February 18, 2011
Time: 03:00 P.M.
Venue:
New Seminar Room [First Floor],
Department of Economics,
Delhi School of Economics,
New Delhi-110007(INDIA)
Location:
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