Radial and non-radial DEA models are distinguished on the basis of the presence of slacks. Viewing slacks as a possible source of inefficiency, this paper makes an empirical attempt to assess the relative strengths of these two sets of models in examining the total factor productivity change and...

Purpose – The purpose of this paper is to construct a robust macroeconomic performance (MEP) index of the State economies of an emerging market economy, i.e. India.Design/methodology/approach – Two variants of data envelopment analysis (DEA) models – radial and non-radial – are proposed...

Common indicators of business and monetary conditions, the lagged mutual fund- risk premium and the market- risk premium are used to predict mutual fund returns for a time horizon of one-day. In isolation, each of the four predictors significantly forecast mutual-fund returns from April 2008 to...

This paper attempts to classify hundred mutual funds employing cluster analysis and using a host of criteria like the 1 year total return, 2 year annualized return, 3 year annualized return, 5 year annualized return, alpha, beta, R-squared, sharpe's ratio, mean and standard deviation etc. The...

This paper applies Varian's(1982,1983) non-parametric tests to obtain weakly separable monetary assets for aggregation. Using annual data (1970-1996) it was found that the official monetary aggregates M2, M3 and M4 are theoretically admissible. Some new separable groups were also obtained in the...

This paper attempts an empirical evaluation of Divisia moneyary aggregates for India ,constructed using four assets, viz, currency with the public, net demand deposits with banks, net time deposits with banks, and post office savings deposits. The performance of these aggregates in relation to...

The developments in the Indian financial sector since the late 1980s affected the efficacy of the existing monetyary aggregates in explaining the monetary conditions in general and in providing insights into the state of liquidity in the economy in particular. Taking note of the above, the...

This chapter makes an attempt to assess the dynamic macroeconomic performance (DMEP) of fifteen major Indian States using three macro indicators viz., gross state domestic product (GSDP), fiscal deficit as percentage of the GSDP and price measured by the GSDP deflator. Keeping in mind...

Money is a medium of monetary policy transmission. In this connection, no other macro-behavioral function is subjected to more modeling modifications and regression rigors than the macro-money demand function. Monetary policy planning hinges on the parameter estimates of the money demand...

This paper empirically examines the properties of a new weighted monetary aggregate, Currency equivalent monetary aggregate (CEMA) for India using the components of a broad monetary aggregate NM3 recommended by the working group on Money Supply, Analytics and Methodology of Compilation, Reserve...