Apr' 22
Focus
In the second paper, "Determinants of Youth Unemployment in India", Karuna Bohini,
C Hussain Yaganti and Mini P Thomas examine the demographic, monetary and macroeconomic factors influencing India's rising youth unemployment, using Autoregressive Distributed Lag (ARDL) approach to cointegration for the period 1983-2018. The study has established the existence of long-run cointegration of youth unemployment with youth working-age population, private investment and real interest rates. The results indicate that India's inflation did not exert a statistically significant influence on youth unemployment, while private investment exerted a statistically significant and positive impact. The results also indicate a negative and statistically significant impact of the proportion of youth in the working-age population on India's youth unemployment. The study highlights the facilitation of internships to tackle the unemployment rate among the youth who are positioned at the entry level in the labor market.
In the third paper, "Determinants of Elementary Education Expenditure in Uttar Pradesh: An Empirical Investigation", Sandeep Kumar Tiwari, Pabitra Kumar Jena and Kirtti Ranjan Paltasingh attempt to study the disparities in household expenditure on education up to the elementary level in Uttar Pradesh using Tobit regression model. The study reveals that gender, religion, caste, consumption quintile, type of institution, medium of teaching, head of the household, occupation of the head of the household, and household size significantly determine the expenditure of household on elementary education. The study also reveals that the association of caste and class plays a significant role in determining educational expenditure in rural Uttar Pradesh, and the association of religion and class shows mixed results in both urban and rural sectors of the nation and the state. The authors opine that there is a need to strengthen the management system and ensure the accountability of teachers in government schools.
In the research note, "Predicting Housing Prices: A Comparison of Three Alternative Methodologies", Sanjay Fuloria compares the results of three machine learning algorithms, viz., Decision Tree Regression (DTR), Support Vector Machines (SVMs), and Gradient Boosting Machines (GBMs). These machine learning algorithms are used in estimating housing prices. The results reveal that GBMs are capable of generating price estimations with lower prediction errors than DTR and SVM, based on the dataset used in the study. The results also reveal that machine learning algorithms like DTR, SVMs, and GBMs are promising tools for property researchers to predict housing prices. The author opines that the size of the dataset, the computing power of the equipment, and the amount of time available to wait for the results-all play a role in the algorithm selection process.
The current issue also features an interview with Prof Bandi Kamaiah, former Dean and Senior Faculty Member in the School of Economics, University of Hyderabad, who has attained a high degree of knowledge in academics and research. The candid expression of his thoughts on the research trends across the globe will certainly inspire the research community at large.
Startup Valuation Determinants: Examining the Economic Value of German Startups from a Strategic Theory Perspective
The pre-money valuation of startups, as their performance indicator, is critical in entrepreneurial financing, which in turn is significantly shaped by the firm's internal resources. This paper analyzes an integrated theoretical framework to examine whether the valuation of startups can be explained by strategic and firm-level factors identified by Barney's (1991) Resource-Based Theory (RBT) as critical to firm performance. Empirical results from the analyses of 142 German startups support the theory that investors consider important factors to startups' performance in their valuation. Implications of the study involve further research on the impact of social and financial capital within human and physical resources and establishes different determinants important to raise different types of funds-venture capital, angel, seed, and grant-in tech and non-tech startups.
Determinants of Youth Unemployment in India
India's youth unemployment rose from 15.5% in 1991 to 23% in 2019. This period also witnessed a declining trend in India's youth to working-age population ratio from 33% to 27%. These statistics are aligned with the existing studies which postulate that if the working-age segment has a large proportion of youth in the age group of 15 to 24 years, it will lead to a high unemployment rate. Given such a context, this paper aims to examine and estimate the demographic, monetary and macroeconomic factors influencing India's rising youth unemployment, with the help of Autoregressive Distributed Lag (ARDL) approach to cointegration. This study also brings in a new dimension to the existing studies by providing an in-depth analysis of the role of millennials cohort, which entered the working-age segment in 1995, in contributing to India's rising youth unemployment. A disaggregated analysis of India's youth unemployment based on the criteria of education and gender has also been carried out.
Determinants of Elementary Education Expenditure in Uttar Pradesh: An Empirical Investigation
This study analyzes the disparities in household expenditure on education up to the elementary level in Uttar Pradesh (UP). It analyzes social status defining variables along with some household environment variables in the most populous state of India. This study focuses on the role of caste, class (economic class), and their interactions in influencing the household education expenditure with respect to localities/sector, gender and type of schools in UP. It used secondary data from the 71st round of the National Sample Survey Office (NSSO). A total of 36,479 urban and 29,447 rural households having children aged 5-29 years, receiving any type of education were surveyed. Using 'Tobit model', it finds inequality existing at different levels. The study suggests strengthening of the economic structure of lower income classes (irrespective of caste) by providing more employment opportunities and continuing financial support, and also trying to implement a universal curriculum structure in all types of schools. Further, there is a need to strengthen the management system and ensure the accountability of teachers in government schools.
Predicting Housing Prices: A Comparison of Three Alternative Methodologies
A lot of data is available for research today from a plethora of sources. There is a need to generate insights from this horde of data, and a lot of times the traditional techniques of analysis might not be suitable for making any fruitful decisions. Hence, there is a need to apply techniques that are available.
An Interview With Professor Bandi Kamaiah
The literature on first-generation college students reveals that owing to the lack of agency and the social and cultural capital deemed necessary to be successful, they face many challenges and structural barriers on their path to higher education. But that had no bearing on a young student of class X, the son of a tenant farmer, called Kamaiah, who indeed was the first in the family to hope, dream, and aspire for higher education.