Wednesday, September 20, 2017

22 September 2017: The role of big data to evaluate Aadhaar

Ronald Abraham and Elizabeth Bennett
IDinsight

Organised by:
International Initiative for Impact Evaluation (3ie)

Chair:
Emmanuel Jimenez, International Initiative for Impact Evaluation (3ie)

Discussant:
Ajay Shah, National Institute of Public Finance and Policy (NIPFP),

Abstract:
Aadhaar has become a seemingly ubiquitous component of a wide range of government and private sector services. However, there are significant gaps in our understanding of Aadhaar’s coverage and performance—especially when it comes to understanding the full range of impacts of the identity system.

In this seminar, IDinsight’s Ronald Abraham and Elizabeth Bennett will present excerpts from their State of Aadhaar Report 2016-17, which provides an overview of the Aadhaar landscape and highlights areas for future research. The conversation will then pivot to the role of primary research and big data in evaluating Aadhaar.

IDinsight’s State of Aadhaar initiative aims to catalyse discourse and inform decision-making in the Aadhaar ecosystem. To achieve this objective, the State of Aadhaar website provides up-to-date data, research, news, and official documentation on Aadhaar.

Date: September 22, 2017
Time: 03:00 P.M.

Venue:
Seminar Hall 3,
Kamala Devi Complex,
India International Centre,
New Delhi – 110001 (India)

Location:

Wednesday, September 13, 2017

20 September 2017: Discussion on The Future of Global Health: Challenges and Opportunities

Michael Merson
Duke University

Organised by:
The American Center and Duke University

Date: September 20, 2017
Time: 04:00 P.M.

Venue:
The American Center
24, Kasturba Gandhi Marg
New Delhi 110 001 (India)

Location:


Note:
Please register here

21 September 2017: Identifying Earnings Management in Indian companies

Deep Narayan Mukherjee
Indian Institute of Management, Calcutta

Discussant:
Amey Sapre, NIPFP

Abstract:
Study on earnings management of Indian companies may not be frequent, but there are quite a few substantial works on this topic. Most of them come to the conclusion that the problem of earnings management is quite rampant. However, earnings management related studies and their results are not "mainstream" among investors or regulators. That is despite the observation that in cases of big ticket NPA, banks often request for a forensic analysis of the defaulter's financial statement. In an effort to enable identification of companies with potential accounting issues, and thus requiring further in depth analysis of those companies, our team has developed a score. The premise of the work being that earnings management is the start of financial manipulations. The team has made certain analytical enhancements to address shortcomings of existing approaches of accounting pertinent to growth economies such as India.

Date: September 21, 2017
Time: 04:30 P.M.

Venue:
Conference Hall, Ground Floor
R&T Building
National Institute of Public Finance and Policy,
18/2 Satsang Vihar Marg, Special Institutional Area,
New Delhi-110067(INDIA)

Location:

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Note:
Those who are interested may please confirm your participation at bins.sebastian@nipfp.org.in

Tuesday, September 5, 2017

7 September 2017: Mutual Fund Flows and Funds Strategic Behavior When Investors Are Inattentive

Apoorva Javadekar
CAFRAL

Abstract:
The paper builds on a simple yet novel idea that the way investors react to the recent mutual fund performance depends largely upon the long-term historical performance of that fund. In particular, I find that investors react more actively to the funds recent performance in case of the funds with good performance history. I show that these effects are strongest for funds which are likely to attract attentive investors such as funds having more visibility or funds with high entry loads. Next, I show that investors who are less responsive to the fund performance are also less responsive to the changes in fund fees which suggest that \textit{investor inattention} rather than any other rational decision-making process that explains the sluggish capital flows. I build a model which shows how the concentration of attentive investors within fund rise with the historical performance which feeds into more reactive capital flows. I provide evidence that mutual funds are aware of the varying degree of investor responsiveness and they adjust their pricing and portfolio risk to maximize the revenue.

Date: September 7, 2017
Time: 11:30 A.M.

Venue:
Seminar Room No. 2
Indian Statistical Institute Delhi Centre,
7, S. J. S. Sansanwal Marg,
New Delhi-110016 (INDIA)

Location:

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Thursday, August 31, 2017

8 September 2017: Whatever it takes: The Real Effects of Unconventional Monetary Policy

Viral Acharya
Deputy Governor, Reserve Bank of India.

Abstract:
Launched in Summer 2012, the European Central Bank (ECB)’s Outright Monetary Transactions (OMT) program indirectly recapitalized European banks through its positive impact on periphery sovereign bonds. However, the stability re-established in the banking sector did not fully translate into economic growth. We document zombie lending by banks that remained undercapitalized even post-OMT. In turn, firms receiving loans used these funds not to undertake real economic activity such as employment and investment but to build up cash reserves. Creditworthy firms in industries with a high zombie firm prevalence suffered significantly from this credit misallocation, which further slowed down the economic recovery.

Date: September 8, 2017
Time: 06:00 P.M.

Venue:
Kamalnayan Bajaj Auditorium
Brookings India
No. 6, Second Floor,
Dr. Jose P. Rizal Marg,
Chanakyapuri,
New Delhi-110021

Location:


Note:
Please RSVP to dgupta@brookingsindia.org

Wednesday, August 23, 2017

6 September 2017: The impact of the GST on Indian investment

Gaurav S. Ghosh
Ernst & Young

Abstract:
The GST is the most far-reaching restructuring of the Indian tax regime since independence. Its impacts will ramify through all sectors of the Indian economy, from investment through production and consumption. We focus specifically on the impact of the GST on incentives to invest in India. To do this, we measure the tax cost of investment in the pre-GST and post-GST environments, and compare these costs across sectors and at the all-India level. Our metric for the tax cost of investment is the Marginal Effective Tax Rate (“METR”), a statistic measuring the tax wedge imposed upon a marginal investment, where the tax wedge is defined as the difference between the gross-of-tax return on capital and the net-of-tax return on capital for a marginal firm. The use of METRs to evaluate tax systems has a long history in many countries, but ours is its first implementation for the Indian economy. We find that the GST improves investment incentives by moderately reducing the tax burden. Further improvements can be made by streamlining the GST system, primarily by unblocking input tax credits in core sectors of the Indian economy. We also find that METRs vary significantly across Indian industries, and that the impact of the GST on investment incentives in these sectors is also heterogeneous.

Date: September 6, 2017
Time: 04:30 P.M.

Venue:
Conference Hall, Ground Floor
R&T Building
National Institute of Public Finance and Policy,
18/2 Satsang Vihar Marg, Special Institutional Area,
New Delhi-110067(INDIA)

Location:

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Note:
Those who are interested may please confirm your participation at bins.sebastian@nipfp.org.in

1 September 2017: The Cost of Distance: Geography and Governance in Rural India

Karan Nagpal
University of Oxford

Abstract:
Rural economic outcomes deteriorate with distance from cities and towns. We use a spatial regression discontinuity design to provide causal evidence for one channel through which this effect operates: the geography of public administration. Using a rich spatial dataset on Indian villages and their local administrative capitals, we show that a greater distance from capitals reduces the provision of public goods. More distant villages also have lower literacy rates and reduced participation in non-farm activities. To estimate these effects causally, we exploit administrative boundaries that generate sharp jumps in distance to local administration capitals, but not in conventional measures of market access such as distance to towns and highways and population density. We discuss a number of mechanisms that explain these results, including monitoring and provision costs, information asymmetries and citizen voice.

Date: September 1, 2017
Time: 04:30 P.M.

Venue:
Conference Hall, Ground Floor
R&T Building
National Institute of Public Finance and Policy,
18/2 Satsang Vihar Marg, Special Institutional Area,
New Delhi-110067(INDIA)

Location:

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Note:
Those who are interested may please confirm your participation at bins.sebastian@nipfp.org.in