This paper examines the role tax policy can play in fostering human capital accumulation in a resource constrained dual economy whose population is growing. The study shows how human capital accumulation, in turn, affects intersectoral terms of trade and the economic growth process of a dual...

We use the argument of Lutkepohl (1982), and Ahsan, Kwan, and Sahni (1992) to model causal relation between public expenditure and national income growth in India during the period 1951-1989. The "omitted" variable considered is the rate of growth of Ml. It is revealed that the pattern of...

The policy of allocation of food grains under rationing has been very ad hoc in India with allocation being fixed on a 'historical basis'. This paper uses four sets of pooled equations for predicting stable levels of per capita consumption of rice and wheat in physical terms in rural and urban...

This paper proposes a general model of asymmetric price transmission at the retail level to examine the volatility of retail spreads in vertical markets, with endogenous overshooting of the wholesale spreads. The model is tested with Indian data and detects significant levels of asymmetry in...

This paper examines market strudurc and efficiency of price transmittals in the two national stock exchanges of India: Bombay Stock Exchange and National Stock Exchange. Price movements in a large number of important stocks in both markets arc considered The framework used is the...

This paper examines the impact of dynamic information acquisition by retailers, on the degree of asymmetric price transmission in vertical markets. We propose a generalization of the extant models of asymmetric price transmission, by endogenising the process of dynamic information acquisition....

This paper investigates the short run efficiency of wholesale markets within the context of vertical markets. We propose a partial adjustment model to examine the dynamics of the wholesale bid-ask spread and determine whether this has any impact on hoarding at the wholesale level. The dynamics...

In this paper we propose a new method of splitting up the Bid-Ask Spread of the wholesalers in grain markets into its three constituent components: the order processing costs, the adverse information cost and the inventory holding cost. It is argued that the extant methods of splitting up this...