Financial Liberalization and Inflationary Dynamics: An Open Economy Analysis

Rangan Gupta 한국국제경제학회 2007 International Economic Journal Vol.21 No.3

Currency Substitution and Financial Repression

Rangan Gupta 한국국제경제학회 2011 International Economic Journal Vol.25 No.1

In this paper, we use a general equilibrium overlapping generations monetary endogenous growth model of a small open economy, to analyze whether financial repression, measured via the 'high' mandatory reserve-deposit requirements of financial intermediaries, is an optimal response of a consolidated government following an increase in the degree of currency substitution. We find that higher currency substitution can yield higher reserve requirements, but the result depends crucially on how the consumer weighs money in the utility function relative to domestic and foreign consumptions, and also the size of the government.

OPEC news and predictability of oil futures returns and volatility: Evidence from a nonparametric causality-in-quantiles approach

Gupta, Rangan,Yoon, Seong-Min Elsevier 2018 NORTH AMERICAN JOURNAL OF ECONOMICS AND FINANCE Vol.45 No.-

<P><B>Abstract</B></P> <P>This paper provides a novel perspective to the predictive ability of OPEC meeting dates and production announcements for (Brent Crude and West Texas Intermediate) oil futures market returns and GARCH-based volatility using a nonparametric quantile-based methodology. We show a nonlinear relationship between oil futures returns and OPEC-based predictors; hence, linear Granger causality tests are misspecified and the linear model results of non-predictability are unreliable. When the quantile-causality test is implemented, we observe that the impact of OPEC variables is restricted to Brent Crude futures only (with no effect observed for the WTI market). Specifically, OPEC production announcements, and meeting dates predict only lower quantiles of the conditional distribution of Brent futures market returns. While, predictability of volatility covers the majority of the quantile distribution, barring extreme ends.</P>

An Endogenous Growth Model of a Financially Repressed Small Open Economy

Samrat Goswami,Rangan Gupta 한국국제경제학회 2009 International Economic Journal Vol.23 No.1

The paper develops a monetary endogenous growth model of a financially repressed small open economy, characterized by curb markets, capital mobility, transaction costs in domestic and foreign capital markets, and a flexible exchange rate system, to analyze the impact of financial liberalization - interest rate deregulation and lower multiple reserve requirements - on growth and inflation. When the model is calibrated to match world figures, we find that interest rate deregulation enhances growth and reduces inflation in steady-state. For relatively smaller transaction costs in the curb market, the above result is, however, reversed. Under such circumstances, lowering the transaction costs in the foreign capital market tends to restore the growth-enhancing (inflation-reducing) capabilities of interest rate deregulation. Lower reserve requirements, though, always ensures lower (higher) steady-state inflation (growth).

Development of Pongamia pinnata as an Alternative Biofuel Crop - Current Status and Scope of Plantations in India

Kesari, Vigya,Rangan, Latha 한국작물학회 2010 Journal of crop science and biotechnology Vol.13 No.3

Pongamia pinnata is a leguminous tree known for its multipurpose benefits and as a potential source of biodiesel crop. Its added benefits to grow on marginal lands make it a suitable candidate in agro-forestry. These properties support the suitability of this plant for large-scale production required by a sustainable biodiesel industry. While utilizing these species as a source of biodiesel, there is a further need for research and extensive knowledge generation into various areas of production and utilization. The future success of P. pinnata as a sustainable source of biodiesel will heavily depend on an unlimited feed stock supply. This will call for large-scale plantations of clonal stocks of elite genotypes to encourage afforestation programs coordinated both at the central and state levels to cater to the needs of the biodiesel industry. The success rate will rely on the elite planting stock, propagation techniques, and plantation practices and models in making Pongamia cultivation an economically viable proposition.

Wave load resistance of high strength concrete slender column subjected to eccentric compression

Jayakumar, M.,Rangan, B.V. Techno-Press 2014 Structural Engineering and Mechanics, An Int'l Jou Vol.50 No.3

A computer based iterative numerical procedure has been developed to analyse reinforced high strength concrete columns subjected to horizontal wave loads and eccentric vertical load by taking the material, geometrical and wave load non-linearity into account. The behaviour of the column has been assumed, to be represented by Moment-Thrust-Curvature relationship of the column cross-section. The formulated computer program predicts horizontal load versus deflection behaviour of a column up to failure. The developed numerical model has been applied to analyse several column specimens of various slenderness, structural properties and axial load ratios, tested by other researchers. The predicted values are having a better agreement with experimental results. A simplified user friendly hydrodynamic load model has been developed based on Morison equation supplemented with a wave slap term to predict the high frequency non-linear impulsive hydrodynamic loads arising from steep waves, known as ringing loads. A computer program has been formulated based on the model to obtain the wave loads and non-dimensional wave load coefficients for all discretised nodes, along the length of column from instantaneous free water surface to bottom of the column at mud level. The columns of same size and material properties but having different slenderness ratio are analysed by the developed numerical procedure for the simulated wave loads under various vertical thrust. This paper discusses the results obtained in detail and effect of slenderness in resisting wave loads under various vertical thrust.

A Review of Factors Predicting Outcome of Pneumatic Dilation in Patients With Achalasia Cardia

( Uday C Ghoshal ),( Murali Rangan ) 대한소화기기능성질환·운동학회(구 대한소화관운동학회) 2011 Journal of Neurogastroenterology and Motility (JNM Vol.17 No.1

Pneumatic dilation (PD) is an effective treatment for achalasia cardia. Outcome of PD, however, varies among different studies. Recently, some groups started considering laparoscopic myotomy to be competitive to PD in treatment of achalasia considering dreaded complication like perforation following the latter therapeutic approach. Therefore, there is need to predict outcome of PD for achalasia, so that appropriate therapy, both for treatment na?ve and for treatment failed patients can be chosen. Apart from age and gender, 2 investigations, namely post-PD manometry and timed barium esophagogram are most often used to predict outcome after PD. Even though there are studies available in the literature with regard to these modalities to predict outcome of PD, these are quite few in number, including small number of patients, primarily because of rarity of the disease. In this article, we review the literature predicting outcome of PD for achalasia. (J Neurogastroenterol Motil 2011;17:9-13)

Antimicrobial and Micro Raman Spectroscopy of Selected Zingiberaceae Species from Northeast India

Archana Das,Latha Rangan,Vigya Kesari,Arpita Nath,Alika Khare 한국작물학회 2013 Journal of crop science and biotechnology Vol.16 No.1

Antimicrobial activity of crude rhizome oils from some important members of Zingiberaceae from Northeast India was carried out in the present study. The plants used were Curcuma amada, C. longa, Zingiber moran, and Z. zerumbet. Rhizomes of the four species were collected and rhizome oil was extracted using six different polar and non-polar solvents. The antimicrobial property of the crude oil was studied against human pathogens using disc-diffusion and viability assay. The rhizome oil of all the 24 extracts exhibited potent antimicrobial activity against all pathogenic bacterial and fungal strains tested. Hydrodistilled fractions of the four species studied showed better effect among all solvents. Water extract of Z. moran was found to be the highest effective antimicrobial agent of all. Antibacterial effect of the water fractions was also characterized against Gram-positive and Gram-negative bacteria using micro Raman spectroscopy. This investigation shows that the essential oils from the wild and domestic species of the family Zingiberaceae from Northeast India are a potential source of bioactive compounds with tremendous medicinal, economic, and therapeutic value. The wild and endemic species Z. moran represents an interesting and promising source of plant-derived antimicrobial agent in the development of new drugs against pathogens.

Wave load resistance of high strength concrete slender column subjected to eccentric compression

M. Jayakumar,B.V. Rangan 국제구조공학회 2014 Structural Engineering and Mechanics, An Int'l Jou Vol.50 No.3

A computer based iterative numerical procedure has been developed to analyse reinforced high strength concrete columns subjected to horizontal wave loads and eccentric vertical load by taking the material, geometrical and wave load non-linearity into account. The behaviour of the column has been assumed, to be represented by Moment-Thrust-Curvature relationship of the column cross-section. The formulated computer program predicts horizontal load versus deflection behaviour of a column up to failure. The developed numerical model has been applied to analyse several column specimens of various slenderness, structural properties and axial load ratios, tested by other researchers. The predicted values are having a better agreement with experimental results. A simplified user friendly hydrodynamic load model has been developed based on Morison equation supplemented with a wave slap term to predict the high frequency non-linear impulsive hydrodynamic loads arising from steep waves, known as ringing loads. A computer program has been formulated based on the model to obtain the wave loads and non-dimensional wave load coefficients for all discretised nodes, along the length of column from instantaneous free water surface to bottom of the column at mud level. The columns of same size and material properties but having different slenderness ratio are analysed by the developed numerical procedure for the simulated wave loads under various vertical thrust. This paper discusses the results obtained in detail and effect of slenderness in resisting wave loads under various vertical thrust.

Development of Pongamia pinnata as an Alternative Biofuel Crop - Current Status and Scope of Plantations in India

Vigya Kesari,Latha Rangan 한국작물학회 2010 Journal of crop science and biotechnology Vol.13 No.3

Pongamia pinnata is a leguminous tree known for its multipurpose benefits and as a potential source of biodiesel crop. Its added benefits to grow on marginal lands make it a suitable candidate in agro-forestry. These properties support the suitability of this plant for large-scale production required by a sustainable biodiesel industry. While utilizing these species as a source of biodiesel, there is a further need for research and extensive knowledge generation into various areas of production and utilization. The future success of P. pinnata as a sustainable source of biodiesel will heavily depend on an unlimited feed stock supply. This will call for large-scale plantations of clonal stocks of elite genotypes to encourage afforestation programs coordinated both at the central and state levels to cater to the needs of the biodiesel industry. The success rate will rely on the elite planting stock, propagation techniques, and plantation practices and models in making Pongamia cultivation an economically viable proposition.