Market Shifts
Income Inequality in Indian Agriculture in the Globalization Era
Paper Presentation in a Themed Session Manjari Balu
India contributes 25 percent of global food production with a total estimate of 275 million tonnes in 2018. This paper identifies the key areas of Indian agriculture that are affected by globalization and critically evaluates the impact of open market policies. Green revolution and liberalization policy changed the landscape of Indian agriculture for a few decades. The Indian agriculture sector is characterised with 85 percent of marginal farmers with less than 2 hectares of land and low levels of mechanization in the farmlands. Inchoate research on income disparity within the agriculture sector posits a threat to the redundant measures taken by the state to improve the agrarian economy. An in-depth analysis of the income inequality among the agriculture states of India is undertaken to comment on the resource allocation pattern of the government. Additionally, a study on the effect of liberal trade policies on the income of the farmers is conducted.
Adaptive Learning and Cryptocurrencies' Price Volatility
Paper Presentation in a Themed Session Joy Diana Yang
Adaptive Learning algorithm in the spirit of Evans and Honkapohja 2001 is introduced into the monetary Lagos Wright 2005 model to study the value of cryptocurrency and its price volatility. My main results are under rational expectation (perfect foresight), neither the monetary steady state nor the autarky steady state is robustly stable, but it depends on the properties of the set up. Furthermore, with a high learning gain in a simple adaptive learning algorithm, chaotic cycles, bifurcation, bubbles, or sunspots can be generated.
