Unawareness of the existence of financial products is a significant reason for non-participation in financial products and services in emerging economies. We propose a theoretical framework where households can acquire awareness, thereby enabling them to make an informed choice of whether to own...

Using India's national benchmark survey for financial literacy and inclusion, we observe a step change in financially literate women, who possess higher levels of sole and joint responsibility with their spouse to manage their households' finances. Considering ownership information in eighteen...

We consider a passive 1/N naive diversification strategy which is long in the equally weighted portfolio of stocks feasible for trading and short in the risk-free asset. We then examine the profi tability, exposures to risk factors, idiosyncratic variance as well as the relation between the...

We derive a simple semi-parametric estimator of the “direct” Average Derivative, δ=E(D[m(x)]), where m(x) is the regression function and S, the support of the density of x is compact. We partition S into disjoint bins and the local slope D[m(x)] within these bins is estimated by using...

It is well known that the Durbin-Watson and several other tests for first-order autocorrelation have limiting power of either zero or one in a linear regression model without an intercept, and tend to a constant lying strictly between these values when an intercept term is present. This paper...

The popular perception about economic reforms having benefitted only the richer districts of India between 1999/2000 and 2004/2005 is investigated. Using the spatial dynamics of district-level per-capita income it was found that income distribution did not change between the years examined. It...

Worldwide, India has the highest number of people defecating in the open. In an attempt to reduce number of open defecation, a supply side initiative is underway. In 2014-2015, Government of India, constructed 8 million toilets. However, an important aspect for this supply-side initiative to...

In an effort to stimulate more attractive football, the international football association FIFA, has recently introduced the "sudden death" or "golden goal" rule for games going into extra time play. This paper analyses under which conditions, if any, the introduction of the sudden death rule...