Housing Demand in Tokyo

Housing policy formulation should be informed by a careful understanding of the behaviour of the housing market, as reflected by housing demand. Such basic information is important, not only for improved project design but also for the development of better sector-wide policies. Housing is a complex outcome of cultural, economic and regulatory environment. Consistent estimates of price and income elasticity of housing demand are prerequisites for effective policy design. Results, from earlier studies on Japanese housing markets, are inconclusive and the estimates of price and income elasticity of housing demand vary over a wide range. It may be argued that measuring the volume of housing services as housing expenditure, as is done in previous research, essentially ignores the heterogeneity, and for large number of policy purposes like impact of tax on tenure choice, choice between owning and renting etc., the distribution of housing consumption into qualitatively different categories is of more interest than an aggregate qualitative measure of housing expenditure alone. This paper analyzes the demand for housing in Tokyo using a discrete choice model. Three dimensions of choice, tenure, dwelling size (as number of rooms) and structure type (as type of unit) determine demand for housing which are modeled simultaneously. The income elasticity of market share of ownership house is positive and ranges between 0.16 to 0.34. However, income elasticity for rental houses is negative ranging between -0.17 to -0.57. The own price elasticities vary over a large range from -0.03 to -5.1 with smaller in magnitude for ownership houses and larger for rental houses.Housing demand; Discrete choice model; Nested Multinomial Logit Model

Home Mortgage Risk: A Case for Insurance in India

Housing mortgage finance in India is constrained by the maximum loan-to-cost ratio and installment income ratio conditions imposed by housing finance companies. The typical reason for this behaviour is that the market for the sharing of risk in mortgage lending is not yet fully developed. Mortgage insurance plays an important role in developing this market. The objective of this paper is to present a case for mortgage insurance market in India. This paper develops a mortgage premium structure framework in which mortgage insurers charge an insurance premium that equates losses to revenue. This paper also models mortgage termination due to prepayment and defaults. We contend that the termination of mortgage in housing is not as `ruthless’ as OPM theory would suggest, primarily because households are not financiers in the `stricter sense’. We have used the Cox proportional hazard model to analyze prepayment and default of mortgage behaviour in India. The results indicate that financial concerns (like the option price, loan to value ratio, and monthly principal and interest to income ratio) are important determinants besides household characteristics. The cumulative prepayment or default probabilities from these models are used in the estimation of the insurance premium structure.Default, Home mortgages, India, insurance, mortgage prepayment, proportional hazard

International Approaches to Real Estate Development

Book ReviewInternational Approaches to Real Estate DevelopmentSquires, G. and Heurkens, E., 2015. International Approaches to Real Estate Development. Routledge, UK. ISBN (hbk): 978-0-415-82857-4, ISBN (pbk): 978-0-415-82858-1, Paperback: US$49.95, Hardback: US$165.00

Study of properties of Aegle Marmelos Reinforced Composite Fiber

Natural particulate and natural fibre composites have attracted substantial importance as a potential structural material. Different types of composite have different characteristics depends up on their composition. The fundamental properties of composite material is that they are cheap and eco friendly. Composites are low cost light in weight, biodegradable and renewable and completely or partially recyclable. Due to these attractive properties of the composite material there is a need to further explore the possibility of new natural particulate to be used as reinforcement in polymer composites. In this paper, Aegle Marmelos (locally known as Bel) is taken as natural fiber for analyzing. This paper mainly concentrates on made to prepare and study the mechanical and environmental behaviour of Aegle Marmelos Reinforced Composite Fiber. This paper also focuses on evaluation of the mechanical properties like impact strength of Aegle Marmelos fiber composites using different tests

Phytochemical Investigations of Crown of Solanum melongena fruit

The crown of Solanum melongena was removed from fruit, dried, extracted and percentage yield was calculated. Phytochemical examination of the methanolic and aqueous extracts showed the presence of alkaloids, saponins, steroids, tannins/ phenolics, flavonoids, proteins and carbohydrates. It was concluded that the extracts of crown contains important constituents for pharmacological activities.Keywords: Solanum melongena; eggplant; phytochemical screening; Crow

Architectural, Demographic, and Economic Causes of Electricity Consumption in Bombay

The energy use increases rapidly due to growth in population, urbanization, and economic growth. Residential electricity consumption has an important place in the rapidly growing electricity consumption in India. Most of the studies that are carried out for energy planning in India, use macrolevel data for the estimation of price and income elasticities of electricity demand. The present study analyses the short-run residential demand for electricity using household survey data for Bombay. The study concludes that the price and income elasticities of residential electricity demand are Ϫ0.70 and 0.34, respectively

Phytochemical Investigations of Crown of Solanum melongena fruit

The crown of Solanum melongena was removed from fruit, dried, extracted and percentage yield was calculated. Phytochemical examination of the methanolic and aqueous extracts showed the presence of alkaloids, saponins, steroids, tannins/ phenolics, flavonoids, proteins and carbohydrates. It was concluded that the extracts of crown contains important constituents for pharmacological activities.Keywords: Solanum melongena; eggplant; phytochemical screening; Crow

A study to assess vaccine wastage in an immunization clinic of tertiary care centre, Gwalior, Madhya Pradesh, India

Background: Vaccines are one of the most successful and cost-effective health intervention. It becomes imperative that use of vaccine was done through a proper framework of practical decision-making that confers positive health and economic benefits to the society of which Vaccine Wastage was a key factor. The aim of the study is to assess “Vaccine Wastage Rate” and “Wastage Factor” of different vaccines given to beneficiaries in Immunization Clinic and based on the above data, recommend measures to reduce it in the Immunization clinic  Methods: The present study was a Record Based Retrospective study carried out in Immunization Clinic in Madhav Dispensary of tertiary center at Gajra Raja Medical College, Gwalior, Madhya Pradesh, India. The data was collected from 1 April 2015 - 31 March 2016.Results: Immunization Sessions were conducted in Immunization clinic during reference period and 7 vaccines BCG, OPV, DPT, Hepatitis B, pentavalent, measles and TT were given. Among individual vaccines, wastage rate and wastage factor in BCG (20.71 and 1.26), OPV (14.65 and 1.17), DPT (15.6 and 1.18), Hepatitis B (10.56 and 1.12), Pentavalent (5.2 and 1.05), Measles (21.68 and 1.28), TT (7.09 and 1.08), and IPV (10.49 and 1.12) was respectively.Conclusions: Vaccine wastage could be expected in all programmes and there should be an acceptable limit of wastage. Innovative techniques to be developed not only to reduce wastage but also the operational cost for convenience of children who were to be vaccinated and parents who bring their children for vaccination without compromising coverage.

We never go out of Style: Motion Disentanglement by Subspace Decomposition of Latent Space

Real-world objects perform complex motions that involve multiple independent motion components. For example, while talking, a person continuously changes their expressions, head, and body pose. In this work, we propose a novel method to decompose motion in videos by using a pretrained image GAN model. We discover disentangled motion subspaces in the latent space of widely used style-based GAN models that are semantically meaningful and control a single explainable motion component. The proposed method uses only a few $(\approx10)$ ground truth video sequences to obtain such subspaces. We extensively evaluate the disentanglement properties of motion subspaces on face and car datasets, quantitatively and qualitatively. Further, we present results for multiple downstream tasks such as motion editing, and selective motion transfer, e.g. transferring only facial expressions without training for it.Comment: AI for content creation, CVPRW-202

How the global airline industry behaved to restrictions on air travel to India? An event study analysis

We examine the impact of the recent restrictions/bans imposed by several nations on air travel to India in the light of the increasing number of infections amid the second wave of covid-19. We employ the standard event study method on a sample of 34 airline stocks across seven nations to find that the recent restrictions/ bans on air travel significantly impact the global airline industry, although the country-specific impacts are not similar. We find that the post-event reaction in all nations has been different from those evidenced during the global pandemic declaration. We are the first to examine these impacts during the current wave of the pandemic. It contributes to the literature on the effects of the pandemic on the global airline industry. Further, it also provides practical explanations to the investors on how the airline stocks react to the persistence of the pandemi