179,602 research outputs found
Debt sustainability in a low interest rate world
No full textHistoric levels of public debt and conditions of r < g for advanced economies have prompted a reassessment of debt sustainability. Using a continuous-time model in which the debt-to-GDP ratio is stochastic and r < g on average, we find that theoretical condi- tions for sustainability are not closely tied to common metrics of sustainability: the level of debt or whether r < g. However, when the primary surplus is bounded, a state-dependent threshold level of public debt determines sustainability. Secular stagnation factors like slow population growth, low productivity growth, or higher output risk carry differing implica- tions for debt sustainabilit
China’s monetary policy and the exchange rate
No full textThe paper models monetary policy in China using a hybrid McCallum-Taylor empirical reaction function. The feedback rule allows for reactions to inflation and output gaps, and to developments in a trade-weighted exchange rate gap measure. The investigation finds that monetary policy in China has, on average, accommodated inflationary developments. But exchange rate shocks do not significantly affect monetary policy behavior, and there is no evidence of a structural break in the estimated reaction function at the end of the strict dollar peg in July 2005. The paper also runs an exercise incorporating survey-based inflation expectations into the policy reaction function and meets with some success.exchange rate; hybrid McCallum-Taylor monetary policy reaction function; SVAR; survey-based inflation expectations; China
Constraining continuous rainfall simulations for derived design flood estimation
No full textAbstract not availableF.M. Woldemeskel, A. Sharma, R. Mehrotra, S. Westr
Mathematical modelling: A wonderful tool if Judiciously used
No full textThe excerpts of the lecture delivered by Prof. S.P. Mehrotra on the occassion of CSIR Diamond Jubilee Celebration
Joy committee and qualitative aspects of College Librarianship
No full textA study of the report of the Expert Committee on College Libraries (1993) appointed by Government of Kerala under the chairmanship of V.P. Joy, IAS. Opines that it is the first of such attempts by any State Government in India Joy Committee considers that the successful performance of the college librarian demand a clear understanding of academic objectives, a significant level of academic expertise and working partnership with heads of teaching departments. Joy recommended that librarian should be brought under the definition of teacher and that the academic qualification of the library staff should be at par with those of the teachers in colleges. The recommendations include granting academic status and service conditions on par with teachers to the college librarians, amendments to purchase rules to enable acquisition of electronic documents, staff formulae based on user strength and levels, implementing mechanisms for participatory development of the system, and methods and procedures for qualitative development of the college library collections
Expropriations, Unifications and Corporate Governance in Italy
No full textExtant literature has usually argued that firms that unify dual class shares are likely to increase shareholder value. We examine the universe of Italian dual class unifications over the 1974-2005
period and show that the unification process is considerably more complex than described in prior literature. In over half the universe, Italian voting shareholders are not compensated for allowing their voting rights to be diluted, and, not surprisingly, experience a price decline at the announcement of unifications. While non-voting shares appreciate in value at the announcement there is little evidence that the unification increases total firm value. We argue that share unifications are designed to benefit the controlling shareholders and, in several cases, controlling voting shareholders use the unification to expropriate wealth from minority shareholders
Why are shareholders not paid to give up their voting privileges? Unique evidence from Italy
No full textDual-class share unifications have typically been argued to be beneficial for voting shareholders, who are usually compensated for the loss of their superior voting privileges. However, no covenants exist that make this compensation mandatory for voting shareholders. In this paper, we examine a subset of dual class share unifications from Italy where, in the main, voting
shareholders are not offered any compensation in lieu of the loss of their superior voting rights. We present a simple model describing the conditions under which the controlling voting shareholder will choose not to offer compensation to minority voting shareholders as part of a share unification. Our empirical results support the model predictions
Synthesis and Spectroscopic Characterization of Two Different Types of Heterobimetallic Glycolate Complexes of Niobium(V)
No full textGhadwal R, Mehrotra RC, Singh A. Synthesis and Spectroscopic Characterization of Two Different Types of Heterobimetallic Glycolate Complexes of Niobium(V). Transition Metal Chemistry. 2005;30(7):836-844
Synthesis and characterisation of heterobimetallic N-(hydroxyethyl)-salicylaldiminate–isopropoxide complexes of oxovanadium(V)
No full textGhadwal R, Singh A, Mehrotra RC. Synthesis and characterisation of heterobimetallic N-(hydroxyethyl)-salicylaldiminate–isopropoxide complexes of oxovanadium(V). Transition Metal Chemistry. 2005;30(3):268-272
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