Suchergebnisse

The monetary policy framework of India has undergone several transformations reflecting underlying macroeconomic and financial conditions as also the dominant socio‐politico‐economic paradigm. The present study makes pertinent commentary notes on different monetary policy approaches, including, for instance, the era of development planning, the era of monetarism, the era of multiple indicator approach, and the era of inflation targeting in India along with their respective advantages and disadvantages.

The call for inclusive growth has been unanimously declared by policymakers across the world. With India's rapid economic growth rate, Indian policymakers also set its economy on the track of inclusive growth while formulating the 11th Five Year Plan. Despite, India's fast-growing and vibrant economy, it fails poorly in Human Development Index ranked 131 in 2016. An unfortunate aspect of the current phase of high growth of the Indian economy has been its 'non-inclusive' nature. The distribution of income has been highly iniquitous. The richest 1% in India cornered 73% of the wealth generated in 2017, presenting a worrying picture of rising income inequality. In this regard, the study attempts to identify the determinants of inclusive growth in India by using annual data from 1981 to 2015. The study employs the autoregressive distributed lag (ARDL) model and the error correction method (ECM) to investigate the long-run and short-run relationship between inclusive growth and its determinants. The bounds test findings confirm the cointegrating relationship among variables. The ARDL estimates suggest that growth in initial income, government expenditure, human development, investment and financial development fosters inclusive growth; while inflation and population growth dampens it. The results also imply that increasing trade openness and foreign direct investment would not be beneficial for India in terms of growth inclusiveness. Based on these findings, the study recommends that the Government of India should take appropriate steps to increase per capita income and social spending with particular attention to macroeconomic stability while they work at improving the quality of population in order to achieve sustainable and robust inclusive growth.JEL Codes: Q4, F1, H7, D31, O43

Traditional money demand functions are often criticized for persistent over-prediction, implausible parameter estimates, highly serially correlated errors and unstable money demand. This study argues that some of these problems may have emerged for the lack of factoring financial innovation into the money demand function. This study estimates money demand for India during the post-reform period, from 1996:Q2 to 2016:Q3. The money demand function is estimated with the linear ARDL approach to cointegration developed by Pesaran, Shin, & Smith (2001), Bounds testing approaches to the analysis of level relationships, Journal of Applied Econometrics, 16(3), 289–326, after employing various proxies for financial innovation. In conclusion, the study finds that there is a stable long-run relationship among variables, such as real money balances, and the scale and opportunity cost variables. In a nutshell, the study assesses the relative importance of financial innovation variables in the money demand equation, and finds that financial innovation plays a very significant role in the money demand specification and its stability.JEL Classification: E41, E44, E42, E52, O16, O53

This study provides an understanding of motivational factors that lead to the adoption of an environmental management system (EMS) from the perspective of resource‐based view theory. Further, the role of EMS has been examined to reduce energy intensity by estimating the average treatment effect. Therefore, different logistic regression has been estimated to find out major motivational factors. Results from the logit model validate the role of firm's size, age, and ownership in motivating firms to adopt an EMS whereas regulatory pressure does not influence the firm's adoption of EMS. Furthermore, negative average treatment effect shows the effectiveness of certification in reducing energy intensity. The comparative analysis of sustainability report indicates that TATA Steel outperforms in terms of carbon emission intensity as compared with Steel Authority of Indian Limited, Jindal power and steel limited, JSW Steel, and average Indian firms. Nonetheless, top Indian steel companies are far behind the global best practices in terms of energy, water, emission, and effluent performance indicators.

In the evidence of the globalised world economy and changing economic structure, the traditional policies require a close examination. This is particularly true in the case of emerging economies like India, which have experienced a rapidly changing policy environment since 1991. The demand for money is an important ingredient for monetary policy formulation. Therefore, the present study re-examines the stability and specification issues of money demand in India's post-reform era. The study takes care of structural breaks in the macroeconomic series while using a unique quarterly dataset from 1996: Q2 to 2016: Q3. Despite the structural breaks, the application of Gregory and Hansen (1996) and autoregressive distributed lag models demonstrate the existence of a stable short-and long-run relationships between real money balances and their determinants. These empirical findings are having a lot of policy implications in the current monetary policy framework of India—inflation targeting framework.

This deliverable describes work done implementing in four different Data Management Plan tools support for machine-actionable data management plans (maDMP) that is necessary for actionable modular data management plans for brokering distributed resources. The work covers the applications of the maDMP and lessons learned. ; The EOSC-Nordic project has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement No 857652. This deliverable is EC submitted, not approved.

This deliverable aims to investigate relevant EOSC and national services that can be leveraged to support cross-border data management, data-driven distributed computing and research workflows for two research communities (climate and natural language processing). Emphasis is placed on data aggregation and interlinking of sharing and active data storage. ; The EOSC-Nordic project has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement No 857652. This deliverable is EC submitted, not approved.

1. The report describes the demonstration and evaluation of ISP1, which was designed to demonstrate the potential of the SHAMAN framework for digital preservation in the context of memory institutions and for the research and development community.2. The demonstration process was carried out by means of presentations based on screen-casts in three locations, Frankfurt, Vilnius and Glasgow. The audiences for the demonstrations consisted persons occupying of a wide range of roles in memory institutions, including senior management, operational level staff and IT support staff.3. The evaluation is based on the reports of focus groups held in the three locations, together with structured data from self-completed questionnaires, administered on the same occasions.4. Participants in the focus groups responded favourably to the ideas demonstrated in the presentations. There was particular interest in the choice of mainly open source software and in automation of processes, both of which have cost reduction implications, and in the idea of a digital preservation policy: the majority of participating organizations had no such policy. Participants also drew attention to aspects of preservation which they found lacking in the presentation and which were desirable, specifically: the preservation of font information; working with already obsolete formats; the automatic extraction of necessary metadata; the fact of mixed media archives involving, e.g., film and audio files; support for controlled vocabularies for search and discovery; and demonstration of workflows at a more practical level.5. The questionnaire results revealed most approval of the retrieval and verification capabilities and less for the ingest processes. Otherwise the results supported the findings from the focus groups in general. There was a division of opinion over the value of the Multivalent browser and the application of grid technology, possibly because of differences in knowledge of these matters. Highest priority was assigned to data migration, access and authentication and bit stream preservation and least to independence standards and search capacity – issues that may be worth further exploration.6. Evaluation has also been performed to determine the project"s impact on the R&D community by means of submission and rejection rates of papers to journals and conferences, and bibliometric and Webometric analyses. The results demonstrate that the research outputs from the project are of interest to the R&D community and that the impact of the project as a whole compares favourably with other European projects in the digital preservation area.7. The evaluation has revealed strengths and shortcomings in the demonstration process, which will influence the development of demonstrators for ISP2 and ISP3. The SHAMAN framework for digital preservation is seen as offering new possibilities and rigorous methods for the field by the practitioners in memory institutions. ; Sponsorship : EU: 7th framework programme

Scientific workflows are a cornerstone of modern scientific computing, and they have underpinned some of the most significant discoveries of the last decade. Many of these workflows have high computational, storage, and/or communication demands, and thus must execute on a wide range of large-scale platforms, from large clouds to upcoming exascale HPC platforms. Workflows will play a crucial role in the data-oriented and post-Moore's computing landscape as they democratize the application of cutting-edge research techniques, computationally intensive methods, and use of new computing platforms. As workflows continue to be adopted by scientific projects and user communities, they are becoming more complex. Workflows are increasingly composed of tasks that perform computations such as short machine learning inference, multi-node simulations, long-running machine learning model training, amongst others, and thus increasingly rely on heterogeneous architectures that include CPUs but also GPUs and accelerators. The workflow management system (WMS) technology landscape is currently segmented and presents significant barriers to entry due to the hundreds of seemingly comparable, yet incompatible, systems that exist. Another fundamental problem is that there are conflicting theoretical bases and abstractions for a WMS. Systems that use the same underlying abstractions can likely be translated between, which is not the case for systems that use different abstractions. More information: https://workflowsri.org/summits/technical