On the dynamics of energy consumption and employment in public and private sector.

This study intended to analyze the direction of Granger-causality between energy consumption and employment in public and private sector. We have adopted DL approach for Granger-causality analysis. We found from the whole analysis that there is evidence of bidirectional causality between energy consumption and employment in organized public and private sector. Therefore our study supports for our third testable hypothesis i.e., “feedback hypothesis”.Energy consumption, Public and Private sector employment, Granger causality.

Tax Burden and GDP: Evidence from Frequency Doman Approach for the USA

We employed Breitung and Candelon's (2006) frequency domain approach to investigate the short-and long-run Granger-causality from different tax burden to GDP in the USA for the period 1947:1 –2009:3. The frequency domain analysis shows that current receipts, personal current tax, taxes on production and imports and taxes on corporate income do not Granger-cause GDP, both at the short and high frequency level; however, current tax receipts Granger-cause GDP in the frequency range of (0.9,1.9), corresponding to the cycle of to 3 months to 7 months. These results suggest that when the USA looks forward to rebalancing her GDP, by means of taxation, it is preferable to reconsider the tax structure with a focus on current tax receipts. This is so because by changing the structure of current tax receipts, the USA will be able to earn more revenue, even in the initial stage. However, if the USA decides to increase welfare, with the stability and sustainability of GDP, the policy makers are advised to readjust the tax burden by infusing the changes of the current receipts, personal current tax, taxes on production and imports and taxes on corporate income.Granger causality in frequency domain, GDP, Tax burden

Modelling the Relationship between Whole Sale Price and Consumer Price Indices: Cointegration and Causality Analysis for India

In this study we attempted to analyze the static and dynamic causality between producers’ prices measured by WPI and consumers’ prices measured by CPI in the context of India. We did our analysis in the framework of time series and for analysis, we applied ARDL bounds testing approach to cointegration and robustness of ARDL approach is examined through Johansen and Juselius (1990) maximum likelihood approach over the period of 1950-2009. We found the evidence of bidirectional causality between WPI and CPI in both cases i.e., in the short-run and long-run. Furthermore, outside sample forecast analysis reveals that in India, WPI leads CPI. This implies that WPI is determined by market forces and also a leading indicator of consumers’ prices and inflation. This gives an indication to the Indian policy analysts to control for factors affecting WPI in order to have control on CPI since CPI is used for indexation purposes for many wage and salary earners including government employees and hence it will be helpful in cutting down the excess government expenditure

Comparative performance of renewable and nonrenewable energy source on economic growth and CO2 emissions of Europe and Eurasian countries: A PVAR approach

In the study, we analyzed the relative performance of RES and NRES on economic growth in European and Eurasian countries in a panel framework. The dynamics of these variables are also analyzed in relation to CO2 emissions. We used PVAR approach for analysis for the period 1965 to 2009 and find that growth rate of NRES has negative impact on the growth rate of GDP and also increase CO2 emissions. The imapct of RES, in general, is found to be positive on the growth rate of GDP. Hence, we recommend the reduction of the consumption of NRES in order to attain higher economic growth, increase economic efficiency and employment with clean and sustainable environment in Europe and Eurasian countries.Renewable and nonrenewable energy sources, Economic growth, CO2 emissions, PVAR

Corporate governance and economic growth

We estimated the impact of the performance of corporate governance on economic growth in a cross-country framework in two specifications. For analysis we have employed log liner model. We found that performance of corporate governance is significantly negatively related to the economic growth in both specification and in all models and hence it matters not only for the current year but it continues to persistent in future also. Addition to it, we found that role played by human capital is insignificant but physical capital and government final consumption expenditure plays significantly positive role in the economic growth of cross-section of countries. We also find that impact of life expectancy and fertility rate is negative and positive on economic growth respectively. We found that trade does not has significant impact on the economic growth in cross-section of countries.Corporate governance, Economic growth, Cross-country

A structural VAR analysis of renewable energy consumption, real GDP and CO2 emissions: Evidence from India

This study has attempted to analyze the dynamics of renewable energy consumption, economic growth, and CO2 emissions. For the analysis, we used structural VAR approach. Results of unit root tests show that all variables are non-stationary at their level form and stationary in first difference form and cointegration analysis, analyzed through Johansen-Juselius (1990), shows that there is no evidence of cointegration among the test variables. The innovations analysis of study reveals that a positive shock on the consumption of renewable energy source increases GDP and decreases CO2 emissions and a positive shock on GDP have a very high positive impact on the CO2 emissions. The variance decomposition shows the share of consumption of renewable energy source explained a significant part of the forecast error variance of GDP and a relatively smaller or negligible part of the forecast error variance of CO2 emissions.Renewable energy consumption, economic growth, CO2 emissions, SVAR

Are exports and imports cointegrated in India and China? An empirical analysis

This study analysis the sustainability of the trade deficits in the two giant economies of Asia, namely India and China with allowance of endogenous structural breaks. We found that trade deficit is sustainable in case of India but not in case of China. This implies that macroeconomic policies of India but not of China have been effective in leading exports and imports to long run steady state equilibrium relationship.Exports, Imports, Endogenous multiple structural breaks.

Economic growth and and FDI in ASIA: A panel data approach

This study is an attempt to examine the impact of foreign direct investment on economic growth in Asian countries. We did our analysis in the panel framework during 1986 to 2008. We also examined the nonlinearities associated with foreign direct investment and exports in the economic growth process of Asian countries under consideration. We find that both foreign direct investment and exports enhance growth process. In addition, labour and capital also play an important role in the growth of Asian countries. Further, nonlinearity effects show that export-led growth is a better option of growth enhancing in Asian developing countries compared with foreign direct investment-led growth.Growth, FDI, Connection, Effects, Panel analysis

Elimination of Glass Artifacts and Object Segmentation

Many images nowadays are captured from behind the glasses and may have certain stains discrepancy because of glass and must be processed to make differentiation between the glass and objects behind it. This research paper proposes an algorithm to remove the damaged or corrupted part of the image and make it consistent with other part of the image and to segment objects behind the glass. The damaged part is removed using total variation inpainting method and segmentation is done using kmeans clustering, anisotropic diffusion and watershed transformation. The final output is obtained by interpolation. This algorithm can be useful to applications in which some part of the images are corrupted due to data transmission or needs to segment objects from an image for further processing

Modelling the Relationship between Whole Sale Price and Consumer Price Indices: Cointegration and Causality Analysis for India

In this study we attempted to analyze the static and dynamic causality between producers’ prices measured by WPI and consumers’ prices measured by CPI in the context of India. We did our analysis in the framework of time series and for analysis, we applied ARDL bounds testing approach to cointegration and robustness of ARDL approach is examined through Johansen and Juselius (1990) maximum likelihood approach over the period of 1950-2009. We found the evidence of bidirectional causality between WPI and CPI in both cases i.e., in the short-run and long-run. Furthermore, outside sample forecast analysis reveals that in India, WPI leads CPI. This implies that WPI is determined by market forces and also a leading indicator of consumers’ prices and inflation. This gives an indication to the Indian policy analysts to control for factors affecting WPI in order to have control on CPI since CPI is used for indexation purposes for many wage and salary earners including government employees and hence it will be helpful in cutting down the excess government expenditure.CPI and WPI, Granger causality, cointegration VDs, IRFs.