An autonomous research institute under the Ministry of Finance

 

Events

Seminar

Financial Frictions and Monetary Transmission in India

  • Speaker Dr. Shesadri Banerjee, MIDS, Chennai
  • Speaker profile

    Dr. Shesadri Banerjee is Assistant Professor in Economics at the Madras Institute of Development, Chennai.

    Detailed bio

  • Date Thu, 05 April, 2018
  • Time 04:00 PM - 05:30 PM
  • Venue NIPFP Auditorium
  • Abstract

    One of the well documented stylized facts on Indian macroeconomy is the weak and incomplete transmission of monetary policy. In view of the empirical evidence from literature (Kletzer, 2012; Mishra et al. 2016), we examine if the frictions of the bank-led credit market can explain such low pass-through of monetary transmission mechanism. We address the research question using a New Keynesian business cycle model with Indian economy specific features of liquidity constrained population, competitive labour market and reserve requirements of the bank. We incorporate a variety of real (TFP, investment specific technological change, and fiscal policy) and nominal (interest rate shock) shocks to the prototype economy in order to understand the propagation mechanism and quantify the variance decomposition of shocks. Combining the methods of calibration and estimation, the baseline parameterization is configured and validated with second order moments of the data. Our model identifies the critical role of financial frictions in the transmission process, and explains the co-movements of interest rates, incomplete pass-through and adjustment mechanism of the real, nominal and financial variables for a positive interest rate shock. 

  • Contact email nipfp.seminar@nipfp.org.in

Seminar

Australia's response to the challenges of GST treatment of e-commerce

  • Speaker Ms. Katie Welsh and Mr. David Pullen
  • Speaker profile

    Ms. Katie Welsh is the Assistant Commissioner, Indirect Tax - Risk and Strategy, Australian Taxation Office; and Mr. David Pullen is Manager, Indirect Tax and Not-for-profit Unit, The Treasury, Australian Government.

  • Date Thu, 22 February, 2018
  • Time 04:00 PM - 05:30 PM
  • Venue NIPFP Auditorium
  • Abstract
    Cross border e-commerce is now thriving globally. It reduces commercial barriers to trade. Customers and merchants are regularly using online platforms to buy and sell goods internationally. 
     
    The world is now only one click away.
     
    The rise of e-commerce has enabled foreign merchants to be at a competitive tax advantage in selling their products in domestic markets. Whilst domestic merchants must include GST/VAT on the sale price, foreign merchants are not under the same obligations.  Most countries are grappling with the impacts of e-commerce. Australia has recently passed laws to impose GST obligations on imported digital/services and low value imported goods. These laws adopt the principles expressed in the OECD’s GST/VAT Guidelines.
     
    Australia’s presentation will provide you with an overview of the issues it had to consider and the GST framework it implemented. The presentation will also touch on recently legislated changes with respect to how GST applies to crypto-currencies.
  • Contact email nipfp.seminar@nipfp.org.in

Seminar

Roundtable on “Towards budgeting for a diversified food system for improved nutritional outcomes: Perspectives & Opportunities” (BY INVITE)

  • Date Tue, 20 February, 2018
  • Time 10:30 AM - 01:30 PM
  • Venue NIPFP Auditorium
  • Abstract
    Agriculture policy in India continues to be largely in favour of staples – be it the input policy, credit policy or the procurement policy. While the country as whole has immensely benefited from these policies in fighting hunger, India continues to face high levels of hidden hunger and malnutrition. The recent figures from NFHS4 on stunting on anaemia are some examples. For instance, at the all India level, stunting among children under 5 years of age is 38.4 per cent. Similarly, 58.5 per cent of all children between 6 months-59 months of age are anaemic. Among all women (15-49 years of age group), 53 percent have been shown as anaemic, as per the NFHS-4, which reflects only a marginal decline from the corresponding figures as per NFHS-3. 
     
    TCI has been advocating at multiple fora that if we adopt a food systems lens, it would allow a much wider perspective for designing nutrition-sensitive agriculture policies. Simply defined, a food system includes all individuals, enterprises and institutions that influence the supply, demand, consumption and absorption of food and micronutrients. A “food systems approach” has the potential to ensure that agriculture policies can help realize both food security and ensure positive nutritional outcomes. 
     
    In this context, it becomes pertinent to deliberate upon the trends and patterns in budgetary allocations on relevant select budget heads (major and minor), which are related to the understanding of food system.
     
    The National Institute of Public Finance and Policy (NIPFP) with Tata Cornell Institute (TCI) is organising a Roundtable on “Towards budgeting for a diversified food system for improved nutritional outcomes: Perspectives & Opportunities”. Key policy experts comprising policy makers from the Government of India, Agriculture economists, Public Finance and Budget experts, Development practitioners and Representatives from the Private Sector would attend the Roundtable. The Roundtable seeks to draw upon the expertise of the participants in identifying the broad themes for policy research on public financing (in both the Union and state budgets) for a diversified food system. 
     
    The participants include Rathin Roy, Director NIPFP; Prabhu Pingali, Director, Tata Cornell Institute; N. R. Bhanumurthy, NIPFP; and Shubh Swain, TCI.
  • Schedule
  • Contact email tarina.tci@cornell.edu

Seminar

Asymmetric Agents and Dynamic (Voluntary) Contributions to Public Goods

  • Speaker Subhra K. Bhattacharya, Shiv Nadar University
  • Speaker profile

    Subhra K. Bhattacharya is an assistant professor in the department of economics at Shiv Nadar University. He has completed his PhD in Economics from Iowa State University. His primary research area is public economics and his current research focuses on private provision of public good by strategic individuals and optimal corrective taxation. He is also working on public economics issues in environment, and one of his current work in progress focuses on designing optimal institutional arrangement to tackle trans-boundary pollution. Detailed Bio.

  • Date Thu, 15 February, 2018
  • Time 04:00 PM - 05:30 PM
  • Venue Round Table Conference Room, R&T Building, NIPFP
  • Abstract
    We analyse dynamic contributions to public goods, both discrete and continuous, by strategic individuals who value the provision asymmetrically. Individual contributions towards a continuous public good that provides a constant marginal benefit are found to be strategic complements across time. In a benchmark case of homogeneous agents, the project needs a critical external contribution to get started. In case of asymmetric agents, whether an individual renders a positive contribution and whether the project needs a critical external support to get started depends on a marginal valuation differential: the ratio of the agents' marginal benefits , and the inter-relationship between discount rate and rate of depreciation. When this marginal valuation differential exceeds a threshold (i. e., when the individuals differ substantially in terms of their marginal and therefore lifetime valuations), the individual with lower valuation does not contribute a positive amount until a critical amount has been accumulated from the contributions of the higher valuation individual, and thus free-rides on the higher valuation individual. When the individuals do not differ significantly in their valuations, the project needs an external support to get started, and the scope and incidence of free-riding behaviour is restricted. Once the project is started, the agents increase their period contributions in strategic response to an increase in collective contributions to reach a steady state level of provision. On the other hand, individual contributions to a discrete public good are strategic complements across time and are positively related to their valuations. An individual with a higher valuation contributes a larger amount in each period in an asymmetric completion Markov perfect equilibrium.
  • Contact email nipfp.seminar@nipfp.org.in

Seminar

The Union Budget 2018-19: Reforms and Development Perspectives (BY INVITE)


Seminar

Artificial Intelligence, Society, and Politics of the Future

  • Speaker Dr. Anupam Guha
  • Speaker profile
    Anupam Guha is a computer scientist, working on Artificial Intelligence and Computational Linguistics based in the US east coast with a PhD from the University of Maryland and a MS from Georgia Tech.​ ​He is deeply interested in and does outreach on the future Social, Political, and Economic implications of AI, especially both its oppressive and emancipatory potentials for Labour. 
     
    Dr. Guha does advocacy for an increased communication between silos of academia, science informed policy, politics informed science, and supports free, universal, and quality higher education in India.​ ​He​ ​has written in Hindustan Times, Indian Express, and TheWire.in on the issues of AI, Labour, and the Politics of Science.
  • Date Tue, 06 February, 2018
  • Time 04:30 PM - 06:00 PM
  • Venue R&T Building, NIPFP
  • Abstract
    At the dawn of the Fourth Industrial Revolution, this time centred around artificial intelligence there is both great peril and great hope. Great peril because currently demonstrated technology, if there are no radical socio-economic changes, will kill a significant percentage of Indian jobs and create precarity for the hundreds of millions of India’s workers, both formal and informal, from farmers to engineers. Great hope because the same technology could create a quantum leap in productivity and logistics enabling the potential formation of a radical national policy which could perhaps, if backed with political imagination and wisdom, lead to an emancipation of Indian labour. This fork in the road cannot be avoided.
     
    There are reactionaries who will not look at AI critically and such a political dismissal of a titanic force will render us vulnerable, and there are also neoliberal technocrats who are enamoured with solutionism and who ignore the structural changes needed to make prosperity under AI possible. My talk will focus on, in the Indian context, the potentials of current AI, the need for a critical politically-educated look at it, the need for a radical rethink, beyond band-aid measures like UBI and robot taxes, towards the structural issues of work, wage, property, and public prosperity, and the possible futures of AI. In describing the above, my talk will also lay out the framework for a new kind of politics for the same.
  • Contact email nipfp.seminar@nipfp.org.in

Seminar

Green Growth and The Right to Energy in India

  • Speaker Rohit Azad, JNU
  • Speaker profile

    Dr. Rohit Azad is Assistant Professor, Centre for Economics Studies and Planning, Jawaharlal Nehru University, New Delhi. Detailed Bio.

  • Date Mon, 22 January, 2018
  • Time 04:00 PM - 05:30 PM
  • Venue NIPFP Auditorium
  • Abstract

    Can growth in India be simultaneously made equitable and environmentally sustainable? The recent pattern of high growth in India has been unequal even as serious questions have been raised about its ecological sustainability. In contrast to that, this paper argues for an alternative growth trajectory which answers the question in the affirmative. We propose an Energy Policy with Equity (EPE), which fundamentally changes the energy mix of the Indian economy towards greener forms of energy as well as guarantees universal access to energy thus generated to the entire population.

  • Contact email nipfp.seminar@nipfp.org.in