वित्त मंत्रालय के तहत एक स्वायत्त अनुसंधान संस्थान

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Events

Events

Seminar

Perspectives on National Accounts Statistics: Issues with Quarterly GDP Series

  • Speaker Naresh Kumar Sharma and Sanjay Kumar
  • Speaker profile
    Naresh Kumar Sharma retired as Director General (Statistics) from the Ministry of Statistics & Programme Implementation, Government of India. Starting with his first posting in the National Accounts Division in 1987, he has worked at different levels in various Statistical fields like Field operations Division, Data Processing, Consumer Price Index, Index of Industrial Production, spanning more than 35 years’ service in Government. He was also the head of National Accounts and CPI/IIP Divisions in MoSPI.  
     
    Sanjay Kumar retired as Additional Director General from the Ministry of Statistics & Programme Implementation, Government of India. He has worked for more than 3 decades in the Statistical System in various Statistical fields like Field operations Division, Data Processing, Consumer Price Index, Economic Census, International Comparison Program etc., besides heading the Training Division.  In his decade-long tenure in Price Statistics, he was instrumental in the launch of the CPI (R/U/C) in 2010. He also has vast experience in analysing the data of labour force surveys, and Census.
  • Date शुक्र, 08 नवमबर, 2024
  • Time 02:30 बजे - 05:00 बजे
  • Venue Round Table Conference Room
  • Contact email aakanksha.shrawan@nipfp.org.in

Seminar

FY 2024-25: Mid-Year Macroeconomic Review

Conference

State Forum 2024: To share ideas and innovation in state finance

  • Date गुरू, 26 सितमबर, 2024 - शुक्र, 27 सितमबर, 2024
  • Venue VICEROY HALL, Hotel Claridges, 12 APJ Abdul Kalam Road, New Delhi – 110001
  • Details

    The National Institute of Public Finance and Policy, New Delhi, in partnership with the Wold Bank is organising the second edition State Forum 2024: The NIPFP institutionalised the forum for discussing challenges faced by states and for states to share their experience in innovations in revenue generation and experiments undertaken for public financial management.  

  • Schedule
  • Contact email director@nipfp.org.in

Seminar

GO Beyond GDP: Introduction Gross Output and Why It Tells a Different Story than GDP

  • Speaker Professor Mark Skousen, Doti-Spogli Endowed Chair, Chapman University
  • Speaker profile

    Mark Skousen, Ph. D., is known as “America’s Economist.” He is a university professor, investment expert, and author of over 25 books.  He earned his doctorate in 1977 in economics from George Washington University. In 2022, he was appointed the first Doti-Spogli Endowed Chair of Free Enterprise at Chapman University after receiving “My Favorite Professor Award.” In 2018, he was awarded the Triple Crown in Economics in 2018 for his work in theory, history and education. He has the unique distinction of having worked for the government (CIA), non-profits (president of FEE), and several for-profit companies. In 2004-05, he taught economics and finance at Columbia Business School and Columbia University. He has also taught economics, finance and business at Barnard, Mercy and Rollins colleges, and Chapman University. Since 1980, Skousen has been editor in chief of Forecasts & Strategies, a popular award-winning investment newsletter.  He was analyst for the Central Intelligence Agency (CIA), a columnist to Forbes magazine, chairman of Investment U, and past president of the Foundation for Economic Education (FEE) in New York. He is the editor of his own website, www.mskousen.com, and is the producer of FreedomFest, “the world‘s largest gathering of free minds,” which meets every July in Las Vegas (www.freedomfest.com). He has written for the Wall Street Journal, Forbes, the Christian Science Monitor, and the Journal of Economic Perspectives, and has made regular appearances on CNBC and C-SPAN Book TV. His economics works include The Structure of Production (NYU Press), The Making of Modern Economics (Routledge), Economic Logic (Capital Press), and EconoPower (Wiley & Sons). His investment books include Investing in One Lesson (Capital Press), and The Maxims of Wall Street (Eagle Publishing). Based on his work The Structure of Production, the federal government began publishing in Spring 2014 a broader, more accurate measure of the economy, Gross Output (GO), every quarter along with GDP.

  • Date बुध, 25 सितमबर, 2024
  • Time 03:30 बजे - 05:00 बजे
  • Venue Conference Hall, R&T Building, NIPFP
  • Abstract
    Professor Mark Skousen writes: "In this presentation, I wish to show that gross output (GO) is the missing piece of the macroeconomic puzzle and one of the most exciting new macro statistics.  It offers important insights into the direction and structure of the  economy.  The US Bureau of Economic Analysis (BEA) has been releasing GO data quarterly along with GDP since 2014, but is only now being recognized as an important new macro statistic.  GO often tells a different story than GDP. GO demonstrates that business spending is a significantly larger segment of the economy than consumer spending is; that business spending tends to be more volatile than GDP and consumption. Earlier-stage and intermediate inputs in GO may also be helpful in forecasting the direction of economic growth (the next quarter's GDP).  Since writing my book "The Structure of Production" (NYU Press, 1990), I have argued that gross output should be the starting point in national income accounting and treated as the "top line" in national income accounting, and GDP as the "bottom line." GO also is a better measure of the business cycle, and more consistent with economic growth theory.  
     
    “Gross output [GO] is the natural measure of the production sector, while net output [GDP] is appropriate as a measure of welfare.  Both are required in a complete system of accounts.”
     
    – Dale Jorgenson, Steven Landefeld, and William Nordhaus, A New Architecture for the US National Accounts (2006:5)
     
    “By integrating the vital role of the supply chain into national income accounting, the development of gross output (GO) has created a more dynamic and broader view of the economy, and the central role that business plays in national income, the business cycle and economic growth. I recommend that economists seriously consider this new approach to macroeconomics.”
     
                                                    – Finn Kydland, UC Santa Barbara (Nobel prize winner, 2004) 
     
    The idea of gross output—or output to intermediate as well as final use—is of some ideological importance in contemporary economic policy. Gross output is seen as a measure of economic life that is business-centered, and that identifies businesses, rather than government or consumers, as the principal object of economic inquiry.  But business is important, too, in our own inquiry into economic history. In our microscopic view of exchanges or transactions, there are multiple exchanges between one enterprise and another, and the exchanges embodied a substantial proportion of the technologies associated with new industries.
     
                                                    – Emma Rothschild (Harvard)   
     
    For more information, go to www.grossoutput.com.  Also, see my latest Wall Street Journal column on GO:  https://www.wsj.com/articles/slow-go-may-mean-a-recession-soon-us-economy-real-gross-output-65c4f1fd " 
  • Contact email aakanksha.shrawan@nipfp.org.in

Seminar

Real Effects of Bank Shocks

  • Speaker Dr. Vivek Sharma
  • Speaker profile

    Vivek Sharma is a Visiting Researcher at the Department of Economics, University of Lancaster Management School. He is also a Research Associate at the Centre for Applied Macroeconomic Analysis (CAMA), Crawford School of Public Policy, Australian National University (ANU), Canberra and a Fellow at Arcelli Centre for Monetary and Financial Studies (CASMEF), Rome. He was previously a Visiting Scholar at the Department of Economics, University of Melbourne. He got a PhD in Economics from LUISS, Rome and a Master’s in Economics from University of Rome Tor Vergata. His primary research interests are in macroeconomics, macro-finance and macro-banking. Most of his research agenda concerns understanding the impact of various macroeconomic shocks and their transmission in imperfect banking environments featuring borrower-lender relationships. In a series of papers, for instance, he examines the implications of these credit relationships for collateral shocks, credit shocks and shocks to loan repayments. He has also done work on understanding state-dependence in effects of loan-to-value (LTV) changes.

  • Date शुक्र, 06 सितमबर, 2024
  • Time 03:30 बजे - 05:00 बजे
  • Venue Conference Hall, R&T Building, NIPFP
  • Abstract
    What are the effects of bank shocks in an economy featuring bank-firm lending relationships and what is the propagation mechanism? This paper builds a dynamic general equilibrium model in which collateral-constrained entrepreneurs have endogenously-persistent credit relationships with banks. A bank shock in this model takes the form of a negative shock to loan repayments and drives up credit spread. Bank credit falls and a downturn in macroeconomic activity ensues. These effects are initially amplified by presence of lending relationships but macroeconomic activity later recovers faster boosted by recovery in bank loans. When credit relationships are turned off, the model predicts prolonged slowdown in investment, consumption and output. These results indicate how borrower-lender relationships can act both as financial accelerator and as an economic stabilizer.
     
    Keywords: Bank Shocks, Lending Relationships, Economic Activity
    JEL Classification: E32, E44

     

  • Contact email aakanksha.shrawan@nipfp.org.in

Seminar

Entropy Law, Economic Processes and the Current Existential Crisis in India: Policy Implications for Sustainability (Reminder)

  • Speaker Prof. Ramprasad Sengupta
  • Date बुध, 28 अगस्त, 2024
  • Time 03:30 बजे - 05:00 बजे
  • Venue Online
  • Abstract
    Economic and Environmental human rights have come sharply into focus in the 21st century, as inequity and ecological degradation continue to surge in the so called liberal democracies like India which was supposed to be committed to political freedoms, including freedom of expression and assembly. The twin problems of Covid-19 pandemic and climate change have seriously threatened the life, livelihood and sustainability of the human development process all over the world in recent times. This paper discusses these issues by using the  lenses of entropy in physical sense of the term.  Such  application of  the concept of  entropy helps us to address the challenges — and explore the remedies — for ensuring sustainability of the development process and guaranteeing economic and environmental human rights.
     
    These problems when situated in the entropy perspective of economic processes point to the ecological links of these phenomena with the functioning of an economy. The concept of physical entropy   and its applicability in the context of extreme events of disease pandemic or climate extreme events  can be illustrated with reference to  their ecological linkage with the physical phenomenon of biodiversity loss or with that of  heating of the earth causing such extreme  health related or  climate related  events. This paper  gives an overview of  these interrelated interdisciplinary issues concerning such events and shows how the rise of entropy as induced by the processes of economic growth lead to scarcities  of resources and income which threaten to raise in turn the social disorder or social entropy. The policy issues that emerge from such analyses are required to address economic, social and environmental aspects of sustainability of development from a holistic scientific perspective and warrant revisiting the Human Rights System in the Indian context. 
     
  • Schedule
    Join from the meeting link
     
    Join by meeting number
    Meeting number (access code): 2513 682 2382
    Meeting password: E8PqmKy66mN (38776596 when dialing from a video system)
  • Contact email aakanksha.shrawan@nipfp.org.in

Seminar

ISSUES BEFORE THE SIXTEENTH FINANCE COMMISSION

Seminar

Report Launch Webinar

  • Date बुध, 10 जुलाई, 2024
  • Time 04:00 बजे - 05:00 बजे
  • Venue Webinar
  • Abstract
    National Institute of Public Finance and Policy (NIPFP), in collaboration with auctusESG, Carbon Markets Association of India (CMAI) and Invest India is proud to unveil our latest research report, “Carbon Markets as a tool for Climate Financing: The India Story” launching on 10 July 2024. 
     
    This report explores the pivotal role of carbon markets with a specific focus on India’s dynamic landscape. The report is a culmination of extensive research, stakeholder consultations and expert insights into:
     
    -  Carbon markets and policy landscape
    -  Challenges faced by carbon markets - global and developing markets
    -  Impact of global developments on India
    -  Key developments - policy level and sector level
     
    Please register for the webinar by filling out the form here: https://lnkd.in/g7f5ZSqp
  • Schedule
  • Contact email aarti.bansal@nipfp.org.in

Seminar

POSTPONEMENT OF SEMINAR on 'Entropy Law, Economic Processes and the Current Existential Crisis in India', to be held on 28.06.2024

  • Date शुक्र, 28 जून, 2024
  • Time 03:30 बजे - 05:00 बजे
  • Venue To be announced
  • Abstract

    The Seminar on 'Entropy Law, Economic Processes and the Current Existential Crisis in India: Policy Implications for Sustainability', by Dr. Ramprasad Sengupta scheduled to be held on 28.06.2024 has been postponed due to unavoidable circumstances.

    Inconvenience caused is regretted.

    The revised date and time will be intimated in due course.

     

     

  • Contact email aakanksha.shrawan@nipfp.org.in

Seminar

16th Refresher Training Programme in Public Finance for University and College Teachers (Last date extended till 12th April)

  • Date सोम, 20 मई, 2024 - शुक्र, 31 मई, 2024
  • Venue NIPFP
  • Abstract
    NIPFP is organizing a 2-weeks Refresher Training Programme in Public Finance from 20th – 31st May, 2024 for University and College Teachers and faculty in research institutions.
     
    The programme will be held at NIPFP, New Delhi with all lodging and boarding facilities provided by the NIPFP, as per norms. Interested candidates can apply online with the following details; (i) Completed application form (ii) Letter of permission to attend the course or No Objection Certificate (NoC) from the Competent Authority/ PhD Supervisor/ or Head of Department and (iii) updated CV (maximum 3 pages). Candidates under 42 years of age and teaching courses in Public Finance are encouraged to apply and would be given preference.
     
    The application form is available on the Institute website www.nipfp.org.in/training  Candidates are required to send the completed application form along with the documents via email on refreshercourse@nipfp.org.in
     
     
    Important dates:
     
    Date of announcement:                                1st March, 2024
    Last date for submission of application:          12th April, 2024
    Communication of shortlisted applicants:       19th April, 2024
     
    Correspondence
     
    Coordinator, 16th Refresher Training Programme in Public Finance,
    National Institute of Public Finance and Policy (NIPFP),
    18/2, Satsang Vihar Marg, Special Institutional Area (Near JNU),
    New Delhi 110 067
     
    Tel.: 011-2656 9303, 2656 9780, 2656 9784
     

Seminar

FY 2023-24: Year End Macroeconomic Review