Bicomplex Hamiltonian systems in Quantum Mechanics

We investigate bicomplex Hamiltonian systems in the framework of an analogous version of the Schrodinger equation. Since in such a setting three different types of conjugates of bicomplex numbers appear, each is found to define in a natural way, a separate class of time reversal operator. However, the induced parity (P)-time (T)-symmetric models turn out to be mutually incompatible except for two of them which could be chosen uniquely. The latter models are then explored by working within an extended phase space. Applications to the problems of harmonic oscillator, inverted oscillator and isotonic oscillator are considered and many new interesting properties are uncovered for the new types of PT symmetries.Comment: 35 Pages, Revised version, Accepted for publication in Journal of Physics A:Mathematical and Theoritica

Strategy for Economic Reform in West Bengal

During the last two decades West Bengal has led the rest of the country with regard to agricultural performance and implementation of panchayat institutions. But these developments have begun to level out. At the same time the state has fallen behind in other sectors--industry, higher education and state of public finances, particularly--to an extent that is seriously worrying. This paper reviews performance of these different sectors, discusses possible explanatory factors, and makes a number of suggestions for policy reforms. With regard to industrial revival, it stresses public investment in transport and communication, measures to improve higher education, foster industry-university collaborations, and help smallscale industries overcome specific market imperfections (access to credit, technology and distribution channels). In public finance, emphasis is placed on raising tax revenues (especially with regard to the service sector), limiting losses of public sector undertakings, and widening the scope of land taxes and user fees. In the agricultural sector, the need for a greater role of the government with regard to biotechnology, extension services, irrigation and flood control is emphasised, along with suggestions for encouraging and regulating contract farming with MNCs. Finally the article urges greater empowerment of panchayats with regard to social service delivery and agro-business development, and administrative reforms to enhance accountability of state government employees.

The political economy of public goods: Some evidence from India

This paper examines how public goods get allocated by a centralized state. We use data on social structure and public goods in rural India over the sixties, seventies and eighties to examine the influence of particular social groups, and of social and economic heterogeneity more generally, on the availability of public goods. This was a period of rapid expansion in these goods and of important shifts in the political leverage enjoyed by different groups. We find that social divisions are important, but so are the relative positions of particular goups in the broader social hierarchy. These divisions are not however immutable, nor is their influence overwhelming. Some previously marginalized communities have gained over this period while others continue to be disadvantaged. There has also been considerable convergence in the availability of public goods over this period, suggesting that the state feels some compulsion to equalize access, even to those who are not politically influential.

Aging and Death under a Dollar a Day

This paper uses household survey data form several developing countries to investigate whether the poor (defined as those living under $1 or$2 dollars a day at PPP) and the non poor have different mortality rates in old age. We construct a proxy measure of longevity, which is the probability that an adult's mother and father are alive. The non-poor's mothers are more likely to be alive than the poor's mothers. Using panel data set for Indonesia and Vietnam, we also find that older adults are significantly more likely to have died five years later if they are poor. The direction of causality is unclear: the poor may be poor because they are sick (and thus more likely to die), or they could die because they are poor.

Productivity paralysis and the complexity problem : why do centrally planned economies become prematurely gray?

Includes bibliographical references (p. 21-22)

A corporate Balance-Sheet Approach to Currency Crises

The paper presents a general equilibrium currency crises model of the "third generation", in which the possibility of currency crises is driven by the interplay between private firms' credit-constraints and nominal price rigidities. Despite our emphasis on microfoundations, the model remains sufficiently simple that the policy analysis can be conducted graphically. The analysis hinges on two features: i) ex post deviations from purchasing power parity, ii) credit constraints a la Bernanke-Gertler, iii) foreign currency borrowing by domestic firms, iv) a competitive banking sector lending to firms and holding reserves and a monetary policy conducted either through open market operations or short-term lending facilities. We first show that with a positive likelihood of a currency crises, firms may indeed find it optimal to borrow in foreign currency, following Chamon (2001). Second, we derive sufficient conditions for the existence of sunspot equilibrium with currency crises. Third, we show that a reduction in the monetary base through restrictive open market operations is more likely to eliminate the poaaibility of currency crises if at the same time the central bank does not impose excessive constraints on short-term lending facilities.