Working PapersWorking papers of IGIDRhttp://hdl.handle.net/2275/111980-10-03T09:05:37Z1980-10-03T09:05:37ZTesting the Friedman-Schwartz hypothesis using time varying correlationGhosh, TaniyaParab, Prashanthttp://hdl.handle.net/2275/4072020-05-29T14:01:39Z2019-01-01T00:00:00ZTesting the Friedman-Schwartz hypothesis using time varying correlation
Ghosh, Taniya; Parab, Prashant
This study analyses the time varying correlation of money and output using the DCC GARCH model for the Euro, India, Poland, the UK and the US. Apart from simple sum money, this model uses Divisia monetary aggregate, which is theoretically shown as the actual measure of monetary services. The inclusion of Divisia money affirms the Friedman-Schwartz hypothesis that money is procyclical. Theprocyclical nature of association was not robustly observed in recent data when simple sum money was used.
2019-01-01T00:00:00ZSignaling through Public Antitrust Enforcement: A GeneralizationGanguly, MadhuparnaPal, Rupayanhttp://hdl.handle.net/2275/4062018-05-28T08:15:07Z2018-04-01T00:00:00ZSignaling through Public Antitrust Enforcement: A Generalization
Ganguly, Madhuparna; Pal, Rupayan
This note shows that the argument of Šaljanin(2017) [Šaljanin, 2017. “Signaling through public
antitrust enforcement―, Economics Letters 169, 4 - 6] that public antitrust enforcement complements
private investment is robust to allowing public investment in anti-trust enforcement to be productive.
However, unlike as in the case of unproductive public investment, over investment in public antitrust
enforcement does not necessarily signal that the government is pro-competition: in pooling equilibria
either only the anti-competition government or both types of government over invests, whereas in the
separating equilibrium only the pro-competition government over invests.
2018-04-01T00:00:00ZPicking the winner: Measuring urban sustainability in IndiaReddy, B. SudhakaraTiwari, Arpithttp://hdl.handle.net/2275/4052017-09-05T11:29:59Z2016-07-01T00:00:00ZPicking the winner: Measuring urban sustainability in India
Reddy, B. Sudhakara; Tiwari, Arpit
This study provides a snapshot of the sustainability of selected Indian cities by employing 57 indicators
in four dimensions to develop an overall city sustainability index. In recent years, its complexity has
made 'urban sustainability' a prominent concept. Urban areas propel growth and at the same time pose
a lot of ecological, social and infrastructural problems and risks. High population density and
continuous in-migration among developing countries created the highest risk in natural and man-made
disasters. These issues and the inability of policy-makers in providing basic services make the cities
unsustainable. The objective of the paper is to develop a city performance index (CPI) to measure and
evaluate the urban regions in terms of sustainable performance. The paper uses benchmark approach to
measure the cumulative performance of the 25 largest Indian cities based on economic, environmental,
social and institutional dimensions. The CPI, consisting of four dimensions disaggregates into 12
categories and ultimately into 53 indicators. The data are obtained from public and non-governmental
organizations, as also from city officials and experts. By ranking a sample of diverse cities on a set of
specific dimensions the study can serve as a baseline of current conditions and a marker for referencing
future results. The benchmarks and indices presented in the study provide a unique resource for the
government and the city authorities to learn about the positive and negative attributes of their a city and
prepare plans for sustainable urban development.
2016-07-01T00:00:00ZNetwork externalities and process R&D: A Cournot-Bertrand comparisonNaskar, MiliPal, Rupayanhttp://hdl.handle.net/2275/4042017-09-05T11:29:49Z2016-07-01T00:00:00ZNetwork externalities and process R&D: A Cournot-Bertrand comparison
Naskar, Mili; Pal, Rupayan
This paper examines the implication of the nature of competition in a market with network externalities
on strategic investment in process R&D by firms. It shows that network externalities have a positive
effect on process R&D, regardless of the nature of product market competition; but, that effect is larger
under Bertrand competition than under Cournot competition. If network externalities are sufficiently
strong, regardless of the degree of product differentiation, Bertrand firms have a stronger incentive for
process R&D than Cournot firms. Otherwise, if network externalities are not sufficiently strong, the
higher the degree of product differentiation, the greater is the possibility of Bertrand R&D to be higher
than Cournot R&D.
2016-07-01T00:00:00Z