In the recent past, international crude oil markets have witnessed significant fluctuations and such fluctuations tend to have ramifications on the economy as a whole. In this regard, this paper makes an attempt to model such volatility spillover from oil price returns to the returns `of the...

We construct an error correction mechanism to examine whether firms’ price adjustment is asymmetric as anticipated by Ball and Mankiw (1994). We have used monthly time series data on prices of 418 commodities, which constitute 97 percent of commodity price basket used in the construction of...

We propose a new methodology to construct core inflation which is, unlike other conventional methods, not based on ad hoc elimination/trimming of prices. The underlying inflation derived from our method is found to be a powerful leading indicator of headline inflation while other conventional...

The policy formulation for cooking energy substitution by renewables is addressed in multi-criteria context. A survey is conducted to know the perceptions of different decision making groups on present dissemination of various cooking energy alternatives in India. Nine cooking energy...

The needs of cooking energy in households can be supplemented by parabolic solar cooker (PSC). Policy for energy substitution by renewables has to consider many conflicting socio-economic issues. To know the perceptions of decision-makers and users, a survey is conducted to evaluate nine cooking...

Multi-criteria decision making is an emerging technique for evaluation and policy formulation for renewable energy technology promotion. In this paper, the case of the parabolic solar cooker (PSC), which is a relatively recent innovation, is evaluated with respect to eight prevalent domestic...

In recent years, demand side management (DSM) has emerged as an efficient utility planning strategy for reducing capacity shortages and improving system load factors. The Indian government is adopting various policies to implement DSM programs. DSM implementation involves a variety of interests...

The currency equivalent (CE) monetary aggregates are interpreted as aggregation theoretic money stock measures by Rotemberg et al. (1995), Barnett (1991) and Kelly (2009) and are far more superior to simple sum aggregates as a policy variable. In this context, the components of four official...

The Opportunistic Approach to disinflation is an influential model of optimal monetary policy. This strategy for disinflation suggests that in a low inflation environment policymakers' would give higher weight to inflation stabilization when inflation is strengthening, but higher weight to...

The U-shaped relationship between inflation and price dispersion around nonzero inflation rate is due to the use of aggregate measure of relative price variability (RPV), which amounts to specification errors in a piecewise linear regression models. However, the true underlying relationship...