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Author: search.filters.author.Sadath, A.C.Subject: search.filters.subject.Design/methodology/approach

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    The macroeconomic effects of increase and decrease in oil prices: evidences of asymmetric effects from India
    (Emerald Group Holdings Ltd., 2021) Sadath, A.C.; Rajesh Acharya, R.H.
    Purpose: The purpose of this paper is to assess whether oil price shocks emanating from oil price increase and decrease have a different impact on the macroeconomic activity. Design/methodology/approach: This study conducts the empirical analysis using structural vector auto-regressive model on Indian data for the period from 1996 to 2017. This paper uses four key macroeconomic variables, namely, real gross domestic product (GDP), the real rate of interest, real money supply, wholesale price index inflation and various linear and non-linear measures of oil price shock. Findings: Empirical results confirm that oil price shock has a significant impact on various macroeconomic variables used in the study. Specifically, shocks emanating from a decline in oil price have a stronger positive impact on real GDP, whereas, a shock due to the rise in oil price has a weaker negative impact on real GDP. Impulse responses confirm that shocks due to a decline in oil prices are long-lasting compared to similar shocks due to a rise in oil prices. Therefore, this study concludes that the macroeconomic impact of oil price shock is asymmetric in India. Originality/value: This paper adds the following new insights: First, this paper presents a distinct relationship between the growth rate of oil price and GDP during increasing and decreasing phases of oil price to drive home the case for this study. Second, India has adopted crucial administrative initiatives such as deregulation of the market for petroleum products and the promotion of renewable energy during the study period. Finally, previous studies have revealed specific behavioral and economic features of people in India with respect to the demand for petroleum products. In light of these factors, this paper based on Indian experience would be justified. © 2021, Emerald Publishing Limited.
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    Multidimensional energy poverty and human well-being: household-level evidence from India
    (Emerald Publishing, 2024) Rajesh Acharya, H.; Sadath, A.C.
    Purpose: This paper aims to assess the relationship between energy poverty and the well-being of people using Amartya Sen’s capability approach to development as theoretical underpinning. Design/methodology/approach: The study uses household-level energy access data collected by the Harvard Dataverse in 2015 and 2018. The authors use multidimensional indices to measure energy poverty and well-being. Further, the authors apply quantile regression approach to measure the relationship between energy poverty and well-being. Findings: The study’s findings reveal that energy poverty and well-being are negatively related. India has made progress in reducing energy poverty and improving well-being during the study period. However, progress in reducing energy poverty is largely due to improved access to electricity and improvement in well-being due to income and financial inclusion. Using modern cooking fuel has a greater negative impact on well-being compared to lighting using electricity. Further, households spending a greater proportion of their income on modern energy fuels leads to a lower quality of life as it precludes them from using it for other purposes. The study records wide variations in the observed relationship between energy poverty and well-being across various socioeconomic groups. Practical implications: This calls for improvement in the production and distribution of modern energy resources, which have substantial welfare implications. Originality/value: This is the first study to measure the relationship between energy poverty and quality of life using multidimensional indices. The findings of this paper have policy implications for the pricing of energy resources and energy access measures. © 2024, Emerald Publishing Limited.