Without making a proper statistical assessment, researchers tend to apply complex econometric tools to a theoretical model in providing analytical results involving time consuming process with extra efforts. After describing the shortcomings of production function model, an attempt has been made...

This paper develops an international model of castor oil market in a perfectly competitive framework. The model is then estimated and validated. The empirical model is then used for policy experimentation using simulation teaching. The alternative scenarios considered are: (i) improvement in the...

The objective of the paper is to examine macroeconomic developments of a labor surplus economy in terms of a dual economy framework. We attempt to build up a two-sector dependent economy model, which is open to trade-flows. We focus on specific forms of openness that a labor surplus economy is...

To what extent the current adjustment programs can rely on price instruments for bringing about structural change in the agricultural sector depends on how large aggregate agricultural supply response is to changes in agricultural terms of trade. While this paper shows that the elasticity of...

This study uses original survey data from an Indian village to locate and analyse the factors influencing different groups of households for selling farm land and its impact on land distribution. It is found that farm households sell land for a variety of reasons including due to distress...