On stochastic comparisons of minimum order statistics from the location–scale family of distributions

We consider stochastic comparisons of minimum order statistics from the location–scale family of distributions that contain most of the popular lifetime distributions. Under certain assumptions, we show that the minimum order statistic of one set of random variables dominates that of another set of random variables with respect to different stochastic orders. Furthermore, we illustrate our results using some well-known specific distributions.     

Macroeconomic Determinants of Crime: Evidence from India

This paper examines the relationship between crime, inflation, unemployment, and real GDP per capita in India. Based on the national-level data, the Johansen cointegration test confirms the presence of cointegration relationship between the variables. The Toda–Yamamoto Granger causality test suggests that macroeconomic indicators, especially unemployment, can significantly affect crime in India. Based on the state-level data, the ordinary least squares results corroborate the effect of inflation on crime even after controlling for governance. However, they fail to verify the relationship between crime, unemployment, and real GDP per capita.

     

Distributional role of monetary policy under limited credit access

The paper explores the redistributive effects of a monetary policy shock in a limited participation framework with limited credit access. Expansionary monetary policy redistributes consumption from traders to non-traders. This redistribution is the largest when only financial market participants have a choice between multiple means of payments while non-participants do not. Welfare analysis reveals that the effectiveness of monetary policy on the economy is the greatest when all agents (financial market participants and nonparticipants) can choose from alternative means of payment in a financially segmented model. The model is calibrated to the US economy for quantitative analysis.     

An evaluation of power relationships among stakeholders in the tourism industry networks of Agra,India

Tourism-related businesses require a multitude of resources in order to operate successfully and given these resources can be accrued from more than one source, bases of power become complex. This is an inductive study which critically evaluates the application of stakeholder theory to an analysis of the tourism destination networks of Agra, India. It examines the relationships of power and dependency that exist between individual and group organisations and the way in which they motivate their behaviour towards each other. The key findings show that resource-based power is formed from the power of individual businesses, the power of the ancillary services stakeholders and the power of the authorities and that network-based power is acquired from the power of agents and the power of groups.