Measurement Of Employment And Unemployment In India: Some Issues
This paper offers a review of the concepts and definitions used in the NSS Employment-Unemployment Surveys (EUS, for short) which have remained virtually unchanged since they were introduced in the NSS 27th Round (1972-73) based on the analysis and recommendations in the Report of the Expert Group on Unemployment Estimate – better known as the Dantwala Committee Report (GOI, 1970). It also examines critically the employment-unemployment estimates derived/derivable from EUS and the use of such estimates for planning and policy.
Macroeconomic Determinants of Employment Intensity of Growth in India
Despite India’s resurgent growth over the past years, the country seems to have failed miserably on the employment front. The employment content of economic growth—the employment intensity of growth—is on the decline. The objective of the present study is to identify the macroeconomic determinants which influence the employment intensity of growth in India. The study covers data for the period 1993–94 to 2009–10 across 15 major Indian states and applies a panel data model to find out these determinants. The results tend to suggest that labour supply, economic structure, price instability and human capital are major determining factors. Pro-employment growth in India may require measures like diversification of economic activities towards labour-intensive sectors, price stability, skill-based education and adoption of labour-intensive technology. JEL Classification: J21, J23
Complexity, Network-Decisions And Alternative Risk Premia: Some New Theories Of Structural Change And Portfolio Decisions.
Structural Change is the basis for many decisions such as government fiscal and monetary policies, government interventions, corporate-expenditure decisions, corporate strategic decisions, portfolio management decisions in finance; household allocation decisions, etc.. Structural change in industries and national economies is increasingly more difficult to detect partly because of the growth and dominance of Complex Systems and “Networks” in modern industries and economies – such Networks and Complex Systems include GVCs (global value chains), retail store networks; franchising networks; internet networks; services networks; credit-chains in industries; online social networks; etc.. The relationship between Complexity and Structural Change is well established in the physics, applied math and economic dynamics literatures. Traditional definitions and modeling of structural change have erroneously focused on changes in labor, technological progress, market share, and or capital – which are grossly inadequate in the new economy and post- global financial crisis (as confirmed by changes in the global retailing and housing industries and other industries). Also the modeling of structural change seems to be constrained by the availability of data, and often omits the relationship between structural change on one hand, and globalization, financial stability and international financial contagion. This article: i) introduces the Operations Strategy Model of structural change, explains how it differs from the Lewis Model of Structural Change; and explains the often omitted relationship between operations strategy (of companies and government agencies) and structural change; ii) introduces other new Complexity-based models/theories of Structural Change in industries; iii) reviews the relationships among Operations Research, Complexity and Structural Change; iv) explains the symbiotic relationship between structural change on one hand, and economic growth, financial stability, financial contagion and globalization; v) discusses the significant gap between academic research and practice and explains some issues and factors that should be considered in the development and testing of structural change models; vi) explains how alternative risk premia can be generated from new models of Structural Change.