We examined the behavior of alternative smoothing methods for modeling environmental epidemiology data. Model fit can only be examined when the true exposure-response curve is known and so we used simulation studies to examine the performance of penalized splines (P-splines), restricted cubic...

We formulate a simultaneous equations model and with the data of a panel of 600 Indian firms for the period 1991-92 to 1997-98 test the hypothesis of finance constraint. The firms are classified by the dividend pay-out ratio into high-cost and low-cost groups; a high dividend pay-out ratio...

This study analyses the role of fundamentals and financial factors in determining firm investment in India with imperfect capital market in a panel VAR framework. Previous research in this area is based on the test of significance (or some variant of this) of the cash flow variable in the...

We use the stochastic frontier approach to estimate the impact of firm characteristics on investment decisions of Indian firms during the 1997-2006 period. The use of the stochastic frontier approach allows us to define the (unobserved) optimum investment that is consistent with a firm's...

This paper formulates a dynamic macroeconomic model with banks and two uses of credit, viz. for fixed capital and for working capital. The model was simulated for the dynamic path of the endogenous variables. To see the role of policy in a bad state, government expenditure was increased financed...

We propose the use of stochastic frontier approach to modelling financial constraints of firms. The main advantage of the stochastic frontier approach over the stylised approaches that use pooled OLS or fixed effects panel regression models is that we can not only decide whether or not the...

This study is an attempt towards an integration of financial development and its effect on the real sector via the transmission mechanism with special reference to developing and emerging market economies. It finds two cointegrating relations between the financial development, output growth and...

In a simple model based on political support approach, we show that poor and less egalitarian societies may impose a lower tax rate contrary to the prediction of the median voter approach. This is consistent with the available empirical findings. In the framework developed in this paper, the...