The Real Exchange Rate in India: Determinants and Targeting

This paper studies the behaviour of the real exchange rate (RER) in India. The first part investigates the role of important macroeconomic (behaviour and policy) variables in explaining the movement of the RER. It is found that the investment-gdp ratio, the overall fiscal deficit of the public sector and the nominal exchange rates are important explanatory variables. The second part of the paper seeks to determine whether real exchange rate targeting has been used in India as a tool in enhancing the competitiveness of the tradable sector. It is found that this is indeed the case, and moreover, the correlation between inflation and nominal devaluations is found to be small.

Budgetary Aspects of Stabilization and Strucutral Adjustment in India: The Painful Road to a Sustainable Fiscal-Financial-Monetary Plan

This study updates and extends to the period 88/89-92-93 our earlier analysis of the public finances of India. With the collapse of the communist regimes in the former Soviet Union and Eastern Europe, India found itself, by early 1991, in the unenviable position of having possibly the most over-regulated economic system in the world. In addition, there had been, during the eighties, a break with India's long tradition of fiscal prudence. Following the foreign exchange crisis of 1991, the government implemented a package of restrictive fiscal and monetary measures and a, by Indian standards, ambitious program of structural adjustment and reform of the Union budget, of regulation and licensing, of the domestic financial sector and of international trade and international financial relations. As regards the magnitude of the fiscal corrections that were undertaken, our conclusion is that it was insufficient. Continuations of past and present expenditure and revenue patterns would result in a steady increase in the public debt-GDP ratio and in the discounted value of the public debt. Inflationary financing of the "primary" gap is not a viable option. We calculate that a further permanent increase in the public surplus of about four and a half points of GDP is needed to achieve the modest objective of stabilizing the public debt-GDP ratio. On the reverse side, this necessary increase in the primary surplus is best achieved by expanding the direct and indirect tax bases and improving tax administration, collection and enforcement. On the expenditure side, reductions in the general government wage bill (by reductions in employment rather than by public sector wage cuts), in fertilizer subsidies, in some (but not all) food subsidies and in operating and capital subsidies to public sector enterprises are recommended. For efficiency reasons and to support the proposed expenditure cuts, overwhelming majority of the public sector enterprises should be cut off from the further government subsidies and be privatized or corporatized.

Interpreting iron studies

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Transmission through a n interacting quantum dot in the Coulomb blockade regime

The influence of electron-electron (e-e) interactions on the transmission through a quantum dot is investigated numerically for the Coulomb blockade regime. For vanishing magnetic fields, the conductance peak height statistics is found to be independent of the interactions strength. It is identical to the statistics predicted by constant interaction single electron random matrix theory and agrees well with recent experiments. However, in contrast to these random matrix theories, our calculations reproduces the reduced sensitivity to magnetic flux observed in many experiments. The relevant physics is traced to the short range Coulomb correlations providing thus a unified explanation for the transmission statistics as well as for the large conductance peak spacing fluctuations observed in other experiments.Comment: Final version as publishe

Flux Tube Model Signals for Baryon Correlations in Heavy Ion Collisions

The flux tube model offers a pictorial description of what happens during the deconfinement phase transition in QCD. The 3-point vertices of a flux tube network lead to formation of baryons upon hadronisation. Therefore, correlations in the baryon number distribution at the last scattering surface are related to the preceding pattern of the flux tube vertices, and provide a signature of the nearby deconfinement phase transition. I discuss the nature of the expected signal, which should be observable in heavy ion collisions at RHIC and LHC.Comment: LaTeX, 9 pages, 5 figures, (v2) Several arguments expanded for clarity, (v3) Minor typesetting changes, published versio

Nuclear magnetic resonance spectroscopy and ultrasound

The work described in this thesis is directed to the examination of the hypothesis that ultrasound may be used to perturb molecular motion in the liquid phase. These changes can then be detected by nuclear magnetic resonance (NMR) in spin-lattice and spin-spin relaxation times. The objective being to develop a method capable of reducing the pulsed NMR acquisition times of slowly relaxing nuclei. The thesis describes the theoretical principles underlying both NMR spectroscopy and ultrasonics with particular attention being paid to factors that impinge on testing the above hypothesis. Apparatus has been constructed to enable ultrasound at frequencies between 1 and 10 mega-hertz with a variable power up to 100W/cm-2 to be introduced in the NMR sample. A broadband high frequency generator is used to drive PZT piezo-electric transducer via various transducer to liquid coupling arrangements. A commercial instrument of 20 kilo-hertz has also been employed to test the above hypothesis and also to demonstrate the usefulness of ultrasound in sonochemistry. The latter objective being, detection of radical formation in monomer and polymer ultrasonic degradation. The principle features of the results obtained are: Ultrasonic perturbation of T1 is far smaller for pure liquids than is for mixtures. The effects appear to be greater on protons (1H) than on carbon-13 nuclei (13C) relaxation times. The observed effect of ultrasonics is not due to temperature changes in the sample. As the power applied to the transducer is progressively increased T1 decreases to a minimum and then increases. The T1's of the same nuclei in different functional groups are influenced to different extents by ultrasound. Studies of the 14N resonances from an equimolar mixture of N, N-dimethylformamide and deuterated chloroform with ultrasonic frequencies at 1.115, 6, 6.42 and 10 MHz show that as the frequency is increased the NMR signal to noise ratio decreases to zero at the Larmor frequency of 6.42 MHz and then again rises. This reveals the surprising indication that an effect corresponding to nuclear acoustic saturation in the liquid may be observable. Ultrasonic irradiation of acidified ammonium chloride solution at and around 6.42 MHz appears to cause distinctive changes in the proton-nitrogen J coupling resonance at 89.56 MHz. Ultrasonic irradiation of N, N-dimethylacetamide at 2 KHz using the lowest stable power revealed the onset of coalescence in the proton spectrum. The corresponding effect achieved by direct heating required a temperature rise of approximately 30oC. The effects of low frequency (20 KHz) on relaxation times appear to be nil. Detection of radical formation proved difficult but is still regarded as the principle route for monomer and polymer degradation. The initial hypothesis is considered proven with the results showing significant changes in the mega-hertz region and none at 20 KHz

Occurrence of the metabolic syndrome in newly diagnosed hypertensive adult Gujarati patients in G. K. General Hospital, Bhuj

Background: A study of 30 newly diagnosed hypertensive Gujarati patients visiting the OPD of G. K. General Hospital, Bhuj, Gujarat, India was carried out. The main aim of the study was to estimate the occurrence of metabolic syndrome in newly diagnosed hypertensive patientsMethods: The study was carried out in a period of 2 months and data was collected after obtaining prior consent of patients and IEC approval. Blood pressure, waist circumference and BMI (body mass index) of the selected patients were measured while blood sample was collected for the laboratory investigations. The data collected was analysed using appropriate softwareResults: On observation, out of 30 hypertensive patients 22 (73.33%) patients suffered from metabolic syndrome. Also in patients suffering from metabolic syndrome, along with hypertension 63.63% (n=14) patients suffered from hypertriglyceridemia, 68.18% (n=15) patients had low HDL cholesterol, 77.27% (n=17) patients had high FBS, 72.72% (n=16) patients had abnormal BMI and 63.63% (n=14) patients had abnormal waist circumference.Conclusions: This very high occurrence values signifies the need of study with larger sample size based on region for further evaluation to treat the high risk patients on early diagnosis

Acute kidney injury requiring dialysis in obstetric patients: management and clinical outcome in case series of 30 patients in a tertiary care centre

Background: Acute Kidney Injury is a common medical problem affecting approximately 5% of all hospitalized and 30% of critically ill patients. The incidence in obstetric patients ranges from 1 in 2000 to 1 in 25000 pregnancies. In India till date, the impact of AKI on fetomaternal outcome and pertaining therapeutic interventions is only sparsely studied.Methods: It is a retrospective cross-sectional study. All obstetric patients with AKI on dialysis, admitted to Shree Krishna Hospital, a tertiary care hospital in Karamsad village in Gujarat from January 2013 to August 2015. Multivariate statistical analysis of clinical and laboratory parameters was performed using SPSS program to obtain the results.Results: The incidence of dialysis was 1.6%. HELLP syndrome and pre-eclampsia (80%) was found to be the most common etiology of AKI followed by Congestive cardiac failure (34.5%), hemorrhage and sepsis in 30% resp. All patients were admitted to ICU care. No significant difference was found between SAP II and SOFA monitoring system. Mechanical ventilation was done to support 53.3% and inotropic support was needed by 56.7% patients. According to the RIFLE criteria, majority of the patients fall under risk category followed by injury. 18% of the patients developed End Stage Renal Disease.Conclusions: In view of the multifaceted etiologies and complexity of management of AKI, a multi-disciplinary approach involving nephrologist, intensivists, obstetricians and neonatologists is extremely important

EFFECT OF SLIP VELOCITY ON THE PERFORMANCE OF A SHORT BEARING LUBRICATED WITH A MAGNETIC FLUID

This paper aims at analyzing the effect of velocity slip on the behavior of a magnetic fluid based infinitely short hydrodynamic slider bearing. Solving the Reynolds’ equation, the expression for pressure distribution is obtained. In turn, this leads to the calculation of the load carrying capacity. Further, the friction is also computed. It is observed that the magnetization paves the way for an overall improved performance of the bearing system. However the magnetic fluid lubricant fails to alter the friction. It is established that the slip parameter needs to be kept at minimum to achieve better performance of the bearing system, although the effect of the slip parameter on the load carrying capacity is in most situations, negligible. It is found that for large values of the aspect ratio, the effect of slip is increasingly significant. Of course, the aspect ratio plays a crucial role in this improved performance. Lastly, it is established that the bearing can support a load even in the absence of flow, which does not happen in the case of a conventional lubricant