Showing 1 - 10 of 31
This paper provides an overview of the impact of the global financial crisis (GFC) on the Indian economy. It identifies the channels through which the GFC has impacted the Indian economy and evaluates the stimulus packages that have been put in place by the government of India. Finally, the...
Persistent link: https://www.econbiz.de/10005000049
This paper studies the implications of internal consumption habit for new Keynesian dynamic stochastic general equilibrium (NKDSGE) models. Bayesian Monte Carlo methods are employed to evaluate NKDSGE model fit. Simulation experiments show that consumption habit often improves the ability of...
Persistent link: https://www.econbiz.de/10010607725
The rise in China's sex ratio at birth during the last two decades has had a wide range of economic and social consequences including excessive savings as families with boys compete to match their sons with scarce girls and rising disaffection and crime amongst the unmarried male population....
Persistent link: https://www.econbiz.de/10011201598
The world's two population giants have undergone significant, and significantly different, demographic transitions since the 1950s. The demographic dividends associated with these transitions during the first three decades of this century are examined using a global economic model that...
Persistent link: https://www.econbiz.de/10011201639
The timing of China‘s and India‘s demographic transitions and the implications of alternative fertility scenarios are here explored using a global economic model incorporating full demographic behavior and measures of dependency that include the working aged and those of working age who do...
Persistent link: https://www.econbiz.de/10011186026
Until very recently and despite human capital’s pre-eminent and empirically established contribution to economic growth, Indian policymakers planning for economic development concentrated largely on issues of capital, labour and, to a lesser extent, technology. This paper argues that India’s...
Persistent link: https://www.econbiz.de/10011170336
Children ( under 15 years of age) growing up in poor and/or nutritionally deprived households also live with a number of layers of deprivations that stifle their freedom to actively participate in and benefit from elementary school education. Lack of health care, limited access to quality...
Persistent link: https://www.econbiz.de/10008861943
Yield curve models within the popular Nelson and Siegel (hereafter NS) class are shown to arise from a formal low-order Taylor approximation to the generic Gaussian affine term structure model. That theoretical foundation provides an assurance that NS models correspond to a well-accepted...
Persistent link: https://www.econbiz.de/10011201584
With nominal interest rates near the zero lower bound (ZLB) in many major economies, it has become untenable to apply Gaussian affine term structure models (GATSMs) while ignoring their inherent theoretical deficiency of non-zero probabilities of negative interest rates. In this article I...
Persistent link: https://www.econbiz.de/10011201622
I propose a simple framework that quantifies the stance of monetary policy as a “shadow short rate” when the term structure is near the zero lower bound. I demonstrate my framework with a one-factor model applied to Japanese data, including an intuitive economic interpretation of the...
Persistent link: https://www.econbiz.de/10011201637