Dilip Nachane - Academia.edu (original) (raw)

Papers by Dilip Nachane

IFAC Proceedings Volumes, 1977

European Journal of Operational Research, 1979

Abstract In this paper an attempt is made to apply results from linear systems theory and Liapuno... more Abstract In this paper an attempt is made to apply results from linear systems theory and Liapunov stability theory to analyze a class of linear economic models. For a quadratic performance index, the Riccati equation can be used to derive the optimal control law in closed-loop form. Once the system is synthesized, the second method of Liapunov can be used to study the transient behaviour of the system. The approach is illustrated through two simple economic models.

Indian Economic Review, 2018

Non-stationary time series are a frequently observed phenomenon in several applied fields, partic... more Non-stationary time series are a frequently observed phenomenon in several applied fields, particularly physics, engineering and economics. The conventional way of analysing such series has been via stationarity inducing filters. This can interfere with the intrinsic features of the series and induce distortions in the spectrum. To avert this possibility, it might be a better alternative to proceed directly with the series via the so-called time-varying spectrum. This article outlines the circumstances under which such an approach is possible, drawing attention to the practical applicability of these methods. Several methods are discussed and their relative advantages and drawbacks delineated

India studies in business and economics, 2022

The Indian Economic Journal

The Capital Adequacy Framework of the Basle Committee on Banking Supervision (BCBS) (1988) is wid... more The Capital Adequacy Framework of the Basle Committee on Banking Supervision (BCBS) (1988) is widely regarded as the single most successful attempt in the move towards convergence of international standards in banking, enabling cross-country assessments and ...

Journal of Quantitative Economics, 2006

ABSTRACT

India Studies in Business and Economics, 2018

This chapter presents an overview of the Marxian perspective on the global crisis. Karl Marx had ... more This chapter presents an overview of the Marxian perspective on the global crisis. Karl Marx had a full-fledged theory of the economic crises of capitalism. Authors like Mandel and Clarke have tried to adapt the orthodox Marxian theory to the characteristics of the kind of “mature” capitalism that prevails in the developed economies of the West currently. While most of the other theories of crises regard them as arising from market and/or regulatory failure, greed, speculation or some other aberrations, the Marxian theory regards crises as a dialectical process, arising from the contradictions between the means and methods of production and the social milieu within which this production takes place. Crucial to the Marxian theory of crises is the proposition that the rate of profit in a capitalist economy exhibits a tendency to fall, and it is in the efforts of capitalists to counteract this tendency that the roots of crises lie.

Economic and Political Weekly, 2003

The debate on bank capital regulation has in recent years devoted specific attention to the role ... more The debate on bank capital regulation has in recent years devoted specific attention to the role that bank loan loss provisions play as a part of the overall minimum capital regulatory framework. The new Capital Accord is also attempting to address provisioning practices ...

Economic and Political Weekly, Nov 13, 2010

By refraining from imposing capital controls, India is today paying a high price in the form of a... more By refraining from imposing capital controls, India is today paying a high price in the form of a loss of autonomy in monetary policy, a reduction in the available fiscal space, and bouts of volatility in the foreign exchange and equity markets. These volatility episodes have often created a penumbra of uncertainty around investment decisions. Surprisingly, the pronounced swing of opinion globally against unfettered capital account liberalisation in the light of the recent financial upheavals seems to have completely bypassed Indian policy circles. This article discusses various options for "capital management" that would contribute to growth with stability. These techniques comprise two complementary (and sometimes overlapping) sets of policies, viz, capital controls on inflows/outflows and prudential financial regulation.

Economic and Political Weekly, Mar 28, 2009

I will divide this speech into two parts. First, I wish to review the current economic and financ... more I will divide this speech into two parts. First, I wish to review the current economic and financial environment. Second, I will discuss the monetary policy decisions taken by the Governing Council in last week's meeting. [1] The euro area economy Incoming information is signalling a more extended slowdown in euro area growth dynamics than previously expected. As I will discuss, this slowdown is mainly due to external developments. While domestic demand is resilient, persistent uncertainties related to protectionist policies and geopolitical factors are taking a toll on economic sentiment and are clearly weighing on the euro area manufacturing sector. On the international front, the latest survey data indicate that global activity remains subdued. This is the case in both emerging market and advanced economies, which suggests that a common factor is at play (Chart 1). The manufacturing sector has been affected most strongly, in particular for capital and intermediate goods, as well as for durable consumption goods. Since these goods are highly tradable, their production is sensitive to developments in international trade, which continues to be weak (Chart 2). Global trade and, consequently, euro area foreign demand have slowed substantially in recent quarters.

Economic and Political Weekly, Mar 18, 2006

Economic and Political Weekly, Sep 12, 2014

Economic and Political Weekly, Mar 20, 2004

Journal of Quantitative Economics, 2011

Non-inearity and non-stationarity are more the rule than the exception in economics. There are se... more Non-inearity and non-stationarity are more the rule than the exception in economics. There are several reasons why they could occur simultaneously in economic models of which the most prominent are : 1. frictions in markets 2. asymmetric adjustment mechanisms 3. markets (esp. financial markets) being subject to episodes of turbulence and volatility (ii) Wooldridge's (1986) definition based on the concept of near epoch dependence (iii) Escribano-Mira (1997) definition based on the concept of αmixing (iv) Aparicio-Escribano definition based on the concept of long memory in information Both parametric and non-parametric tests for nonlinear cointegration are discussed and their properties analyzed.

Economic and Political Weekly, Dec 28, 2012

Economic and political weekly

ABSTRACT

IFAC Proceedings Volumes, 1977

European Journal of Operational Research, 1979

Abstract In this paper an attempt is made to apply results from linear systems theory and Liapuno... more Abstract In this paper an attempt is made to apply results from linear systems theory and Liapunov stability theory to analyze a class of linear economic models. For a quadratic performance index, the Riccati equation can be used to derive the optimal control law in closed-loop form. Once the system is synthesized, the second method of Liapunov can be used to study the transient behaviour of the system. The approach is illustrated through two simple economic models.

Indian Economic Review, 2018

Non-stationary time series are a frequently observed phenomenon in several applied fields, partic... more Non-stationary time series are a frequently observed phenomenon in several applied fields, particularly physics, engineering and economics. The conventional way of analysing such series has been via stationarity inducing filters. This can interfere with the intrinsic features of the series and induce distortions in the spectrum. To avert this possibility, it might be a better alternative to proceed directly with the series via the so-called time-varying spectrum. This article outlines the circumstances under which such an approach is possible, drawing attention to the practical applicability of these methods. Several methods are discussed and their relative advantages and drawbacks delineated

India studies in business and economics, 2022

The Indian Economic Journal

The Capital Adequacy Framework of the Basle Committee on Banking Supervision (BCBS) (1988) is wid... more The Capital Adequacy Framework of the Basle Committee on Banking Supervision (BCBS) (1988) is widely regarded as the single most successful attempt in the move towards convergence of international standards in banking, enabling cross-country assessments and ...

Journal of Quantitative Economics, 2006

ABSTRACT

India Studies in Business and Economics, 2018

This chapter presents an overview of the Marxian perspective on the global crisis. Karl Marx had ... more This chapter presents an overview of the Marxian perspective on the global crisis. Karl Marx had a full-fledged theory of the economic crises of capitalism. Authors like Mandel and Clarke have tried to adapt the orthodox Marxian theory to the characteristics of the kind of “mature” capitalism that prevails in the developed economies of the West currently. While most of the other theories of crises regard them as arising from market and/or regulatory failure, greed, speculation or some other aberrations, the Marxian theory regards crises as a dialectical process, arising from the contradictions between the means and methods of production and the social milieu within which this production takes place. Crucial to the Marxian theory of crises is the proposition that the rate of profit in a capitalist economy exhibits a tendency to fall, and it is in the efforts of capitalists to counteract this tendency that the roots of crises lie.

Economic and Political Weekly, 2003

The debate on bank capital regulation has in recent years devoted specific attention to the role ... more The debate on bank capital regulation has in recent years devoted specific attention to the role that bank loan loss provisions play as a part of the overall minimum capital regulatory framework. The new Capital Accord is also attempting to address provisioning practices ...

Economic and Political Weekly, Nov 13, 2010

By refraining from imposing capital controls, India is today paying a high price in the form of a... more By refraining from imposing capital controls, India is today paying a high price in the form of a loss of autonomy in monetary policy, a reduction in the available fiscal space, and bouts of volatility in the foreign exchange and equity markets. These volatility episodes have often created a penumbra of uncertainty around investment decisions. Surprisingly, the pronounced swing of opinion globally against unfettered capital account liberalisation in the light of the recent financial upheavals seems to have completely bypassed Indian policy circles. This article discusses various options for "capital management" that would contribute to growth with stability. These techniques comprise two complementary (and sometimes overlapping) sets of policies, viz, capital controls on inflows/outflows and prudential financial regulation.

Economic and Political Weekly, Mar 28, 2009

I will divide this speech into two parts. First, I wish to review the current economic and financ... more I will divide this speech into two parts. First, I wish to review the current economic and financial environment. Second, I will discuss the monetary policy decisions taken by the Governing Council in last week's meeting. [1] The euro area economy Incoming information is signalling a more extended slowdown in euro area growth dynamics than previously expected. As I will discuss, this slowdown is mainly due to external developments. While domestic demand is resilient, persistent uncertainties related to protectionist policies and geopolitical factors are taking a toll on economic sentiment and are clearly weighing on the euro area manufacturing sector. On the international front, the latest survey data indicate that global activity remains subdued. This is the case in both emerging market and advanced economies, which suggests that a common factor is at play (Chart 1). The manufacturing sector has been affected most strongly, in particular for capital and intermediate goods, as well as for durable consumption goods. Since these goods are highly tradable, their production is sensitive to developments in international trade, which continues to be weak (Chart 2). Global trade and, consequently, euro area foreign demand have slowed substantially in recent quarters.

Economic and Political Weekly, Mar 18, 2006

Economic and Political Weekly, Sep 12, 2014

Economic and Political Weekly, Mar 20, 2004

Journal of Quantitative Economics, 2011

Non-inearity and non-stationarity are more the rule than the exception in economics. There are se... more Non-inearity and non-stationarity are more the rule than the exception in economics. There are several reasons why they could occur simultaneously in economic models of which the most prominent are : 1. frictions in markets 2. asymmetric adjustment mechanisms 3. markets (esp. financial markets) being subject to episodes of turbulence and volatility (ii) Wooldridge's (1986) definition based on the concept of near epoch dependence (iii) Escribano-Mira (1997) definition based on the concept of αmixing (iv) Aparicio-Escribano definition based on the concept of long memory in information Both parametric and non-parametric tests for nonlinear cointegration are discussed and their properties analyzed.

Economic and Political Weekly, Dec 28, 2012

Economic and political weekly

ABSTRACT