Economic Studies - Research Publications

Permanent URI for this collectionhttps://kr.cup.edu.in/handle/32116/141

Browse

Filters

20142

Settings

Author: search.filters.author.Singla, NareshSubject: search.filters.subject.Cointegration

Search Results

Now showing 1 - 2 of 2
  • Thumbnail Image
    Item
    An Analysis of Major Determinants of Food Inflation in India
    (Indian Society for Education and Environment, 2014) Ahmed, Mumtaz; Singla, Naresh
    The study has exclusively analyzed the major determinants of food inflation in India by using the monthly data from January 2006 to December 2013. Using Johansen’s cointegration technique, it was shown that in long run, all major determinants of food inflation such as money supply, interest rate, exchange rate, crude oil and rainfall except world food prices affect food inflation significantly. The Error Correction Model was also used to comprehend the short run behavior of food inflation and its determinants. The error correction term turned out to be significant statistically which further confirmed the long run causality as well as the speed of convergence towards long run equilibrium. In short-run, only world food and crude oil prices affect the food inflation.
  • Thumbnail Image
    Item
    Cointegration, Causality and Impulse Response Analysis in Major Apple Markets of India
    (Agricultural Economics Reseach Assosiation, 2014) Beag, Fayaz Ahmad; Singla, Naresh
    The study has investigated market integration across five major wholesale apple markets, viz. Ahmedabad, Bengaluru, Delhi, Hyderabad and Kolkata, of the country by adopting Johansen’s multivariate cointegration approach. The study has confirmed the presence of cointegration, implying the long-run price association among the markets. To get the additional evidence as to whether and in which direction price transmission is occurring between the market pairs, Granger causality test has been used, which has confirmed Delhi to be the price-determining market. Hyderabad has been found comparatively more efficient as it has depicted most bidirectional causal relations with other markets. The market pairs: Ahmedabad — Kolkata and Bengaluru — Kolkata have not shown any causal relation between them. The impulse response functions were also conducted which have confirmed the results of cointegration and Granger causality, but the magnitude of price transmission has been found relatively low in some market pairs that are spatially integrated. The major implication of the study is for the designing of a network of agricultural wholesale markets across the country at almost equal distance from each other to enhance the market integration and better price transmission among them.