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The book pays tribute to the celebrated economist Professor Suresh
Tendulkar's contribution and scholarship to economics,
economic-policy making, and economic reforms in India. Professor
Tendulkar served on numerous panels and commissions set up to
reform diverse aspects of India's economy. To name a few, he served
as the Chairperson of the Prime Minister's Economic Advisory
Council, Chairman of the National Commission of Statistics,
National Sample Survey Organisation, Committee on National
Accounts, and as a member in the Fifth Pay Commission, the
Disinvestment Commission (1996). He is credited with devising the
new method to estimate poverty in India which resulted in India's
poverty estimates being scaled up. This book primarily focuses on
Professor Tendulkar's contributions on economic planning in India,
the political economy of economic reforms, and his important
conceptual and policy-relevant work on poverty measurement. The
three sub-themes of the book - Economic Reforms and Policy
Formulation, Poverty and Inequality, and Development and Trade -
are indicative of his specific research interests, namely poverty
and well-being, and India and the world economy. It covers both
micro and macro aspects relevant to the Indian economy. The
econometric techniques utilized encompass state-of-the-art
microeconometric as well as macroeconometric models. The book
contains contributions from eminent economists associated with
Professor Tendulkar, and is useful for readers from the
undergraduate through the Ph.D. level as well as researchers and
practitioners of economics.
The book pays tribute to the celebrated economist Professor Suresh
Tendulkar's contribution and scholarship to economics,
economic-policy making, and economic reforms in India. Professor
Tendulkar served on numerous panels and commissions set up to
reform diverse aspects of India's economy. To name a few, he served
as the Chairperson of the Prime Minister's Economic Advisory
Council, Chairman of the National Commission of Statistics,
National Sample Survey Organisation, Committee on National
Accounts, and as a member in the Fifth Pay Commission, the
Disinvestment Commission (1996). He is credited with devising the
new method to estimate poverty in India which resulted in India's
poverty estimates being scaled up. This book primarily focuses on
Professor Tendulkar's contributions on economic planning in India,
the political economy of economic reforms, and his important
conceptual and policy-relevant work on poverty measurement. The
three sub-themes of the book - Economic Reforms and Policy
Formulation, Poverty and Inequality, and Development and Trade -
are indicative of his specific research interests, namely poverty
and well-being, and India and the world economy. It covers both
micro and macro aspects relevant to the Indian economy. The
econometric techniques utilized encompass state-of-the-art
microeconometric as well as macroeconometric models. The book
contains contributions from eminent economists associated with
Professor Tendulkar, and is useful for readers from the
undergraduate through the Ph.D. level as well as researchers and
practitioners of economics.
This book provides a detailed introduction to the theoretical and
methodological foundations of production efficiency analysis using
benchmarking. Two of the more popular methods of efficiency
evaluation are Stochastic Frontier Analysis (SFA) and Data
Envelopment Analysis (DEA), both of which are based on the concept
of a production possibility set and its frontier. Depending on the
assumed objectives of the decision-making unit, a Production, Cost,
or Profit Frontier is constructed from observed data on input and
output quantities and prices. While SFA uses different maximum
likelihood estimation techniques to estimate a parametric frontier,
DEA relies on mathematical programming to create a nonparametric
frontier. Yet another alternative is the Convex Nonparametric
Frontier, which is based on the assumed convexity of the production
possibility set and creates a piecewise linear frontier consisting
of a number of tangent hyper planes. Three of the papers in this
volume provide a detailed and relatively easy to follow exposition
of the underlying theory from neoclassical production economics and
offer step-by-step instructions on the appropriate model to apply
in different contexts and how to implement them. Of particular
appeal are the instructions on (i) how to write the codes for
different SFA models on STATA, (ii) how to write a VBA Macro for
repetitive solution of the DEA problem for each production unit on
Excel Solver, and (iii) how to write the codes for the
Nonparametric Convex Frontier estimation. The three other papers in
the volume are primarily theoretical and will be of interest to PhD
students and researchers hoping to make methodological and
conceptual contributions to the field of nonparametric efficiency
analysis.
This book provides a detailed introduction to the theoretical and
methodological foundations of production efficiency analysis using
benchmarking. Two of the more popular methods of efficiency
evaluation are Stochastic Frontier Analysis (SFA) and Data
Envelopment Analysis (DEA), both of which are based on the concept
of a production possibility set and its frontier. Depending on the
assumed objectives of the decision-making unit, a Production, Cost,
or Profit Frontier is constructed from observed data on input and
output quantities and prices. While SFA uses different maximum
likelihood estimation techniques to estimate a parametric frontier,
DEA relies on mathematical programming to create a nonparametric
frontier. Yet another alternative is the Convex Nonparametric
Frontier, which is based on the assumed convexity of the production
possibility set and creates a piecewise linear frontier consisting
of a number of tangent hyper planes. Three of the papers in this
volume provide a detailed and relatively easy to follow exposition
of the underlying theory from neoclassical production economics and
offer step-by-step instructions on the appropriate model to apply
in different contexts and how to implement them. Of particular
appeal are the instructions on (i) how to write the codes for
different SFA models on STATA, (ii) how to write a VBA Macro for
repetitive solution of the DEA problem for each production unit on
Excel Solver, and (iii) how to write the codes for the
Nonparametric Convex Frontier estimation. The three other papers in
the volume are primarily theoretical and will be of interest to PhD
students and researchers hoping to make methodological and
conceptual contributions to the field of nonparametric efficiency
analysis.
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