1,721,161 research outputs found
Ali Wyne on Understanding Poverty Edited by Abhijit Vinayak Banerjee, Roland Bénabou, and Dilip Mookherjee. Oxford: Oxford University Press, 2006. 496pp.
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Understanding Poverty Edited by Abhijit Vinayak Banerjee, Roland Bénabou, and Dilip Mookherjee. Oxford: Oxford University Press, 2006. 496pp
The Land Acquisition Bill-- A Critique and a Proposal
Full text linkThe new Bill on land acquisition recently tabled in Parliament is well intentioned but seriously flawed. Its principal defect is that it attaches an arbitrary mark-up to the historical market price to determine compensation amounts. This will guarantee neither social justice nor the efficient use of resources. The Bill also places unnecessary and severe conditions on land acquisition, such as restrictions on the use of multi-cropped land and insistence on public purpose, all of which are going to stifle the pace of development without promoting the interests of farmers. We present an alternative approach that will allow farmers to choose compensation in either land or cash, determine their own price instead of leaving it to the government’s discretion, and also reallocate the remaining farmland in the most efficient manner. Our proposed method involves a land auction covering not only the project site but also the surrounding agricultural land.
INEFFICIENCY AND ABUSE OF COMPULSORY LAND ACQUISITION--AN ENQUIRY INTO THE WAY FORWARD
Full text linkThis paper focuses on two issues--the problems with the compulsory acquisition of land, and the regulatory and institutional impediments that obstruct voluntary land transactions. We argue that any compulsory acquisition based process is intrinsically inefficient and unfair, even if it is accompanied by presumably benevolent schemes such as land-for-land and the R&R packages. Moreover, it is inherently prone to litigation. We demonstrate how what we call the 'regulatory hold-up' precludes a large number of potential transactions in agriculture land, and puts a downward pressure on land prices. The paper offers suggestions for reforming the legal and regulatory framework governing the land and its use. Finally, we discuss the Land Acquisition and Rehabilitation & Resettlement (LARR) Bill 2011. We show that the bill leaves open several backdoors for the states to favour companies. Movreover, it fails to address the fundamental causes behind rampant disputes and litigation over compensation.
Updating Validations and Stochastic Dynamics on Coordination
Full text linkThis work studies an equilibrium selection of infinitely repeated symmetric 2x2 coordination games that show a tension between Pareto efficiency and risk dominance, in which bounded rational agents adopt the following simple behavior rule: each agent has a valuation of actions, and chooses the highest one. Valuations are updated according to the sign of the difference between the current valuation and the realized payoff. By applying techniques from stochastic stable states (Kandori et al. 1993 and Young 1993), it is shown that the risk dominant outcome is selected; that is, it is realized more frequently in the long run.
“The power of simple theory and important facts” A Conversation with Bob Gregory
Full text linkBob Gregory contrasts ‘the presuppositions of Royal Parade’ of 1950 Melbourne with the present outlook of himself and Australia at large. He outlines the evolution of his methodological position from the University of Melbourne student to the Canberra policy advisor, and defends that position from criticism. He recalls the genesis of the Gregory Thesis, and advances his account of the decline of trade unionism, the impact of the welfare state on household formation, and Aboriginal unemployment.Australian economic history, history of thought, macroeconomics, microeconomics
Moral hazard and private monitoring.
Full text link1This paper incorporates earlier work by Bhaskar [4] and unpublished notes by van Damme. We are grateful to Tilman Börgers, Dilip Mookherjee, Debraj Ray, an anonymous referee, an associate editor, and numerous seminar audiences for useful comments. The first author thanks the CentER for Economic Research (Tilburg) for its hospitality while some of this research was carried out.
Moral hazard and private monitoring
Full text link1This paper incorporates earlier work by Bhaskar [4] and unpublished notes by van Damme. We are grateful to Tilman Börgers, Dilip Mookherjee, Debraj Ray, an anonymous referee, an associate editor, and numerous seminar audiences for useful comments. The first author thanks the CentER for Economic Research (Tilburg) for its hospitality while some of this research was carried out
Moral hazard and private monitoring
No full text1This paper incorporates earlier work by Bhaskar [4] and unpublished notes by van Damme. We are grateful to Tilman Börgers, Dilip Mookherjee, Debraj Ray, an anonymous referee, an associate editor, and numerous seminar audiences for useful comments. The first author thanks the CentER for Economic Research (Tilburg) for its hospitality while some of this research was carried out
New Directions in Development Economics: Theory or Empirics? A Symposium in Economic and Political Weekly
No full textIn May 2004 a conference was held at Cornell University entitled “75 Years of Development Research.”. Apart from the usual array of theoretical and empirical papers on development, a number of panels took stock of the state of development economics and discussed a range of methodological issues. One commentary that stood out in the challenge it posed to the current state of development economics was, “Is there Too Little Theory in Development Economics Today?” by Dilip Mookherjee. He answered his own question in the affirmative. Given the debate it generated, after the conference it was circulated to a number of leading development economists who had been present at the conference, and responses were invited. Pranab Bardhan sent in a response, “Theory or Empirics in Development Economics,” as did Kaushik Basu, “The New Empirical Development Economics: Remarks on its Philosophical Foundations.” These papers were largely supportive of the position taken by Mookherjee. There then followed a response to all three of these papers by Abhijit Banerjee, “‘New Development Economics’ and the Challenge to Theory,” which mounted a defense of the current empirical methods in development economics. Ravi Kanbur then followed with his comments, “Goldilocks Development Economics.” Ravi Kanbur also took the responsibility of coordinating the contributions. These five papers are being brought together here in this symposium in Economic and Political Weekly.
Semiparametric Fixed-Effects Estimator
Full text linkThis paper describes the Stata implementation of Baltagi and Li's (2002) series estimator of partially linear panel data models with fixed effects. After a brief description of the estimator itself, we describe the new command xtsemipar. We then simulate data to show that this estimator performs better than a fixed effect estimator if the relationship between two variables is unknown or quite complex.xtsemipar, Semiparametric estimations
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