Conference Schedule:

13th December
9.30 a.m, Session I : Inauguration
Chair: Dr. Y. V. Reddy, RBI
Welcome:
 Dr.R. Radhakrishna
Review of Third Money and Finance Conference and looking ahead to the Fourth:
 Dr. Ashima Goyal /
Dr. Kausik Chaudhuri
Inaugural Address: "Evolving global financial markets: implications for capital flows and capital  standards in emerging market economies".
[abstract] 		Dr. William White, BIS
Vote of Thanks:
 Dr. Susan Thomas
11 a.m ,Tea and Snacks

11.30 a.m – 1.00 p.m, Session II: Monetary Models & Policy I
Chair: D.M.Nachane
The Observational Equivalence of Taylor Rule and Taylor-Type Rules
[abstract] 		Authors:
Naveen Srinivasan
Patrick Minford
Francesco Perugini
 Discussant: Veena Mishra
Constant Maturity Yield Curve Estimation for India
[abstract] 		Authors:
Suchismita Bose
Paramita Mukherjee
 Discussant: Gangadhar Darbha
Demand Deposit Banking and Open Market Operations
[abstract] 		Authors:
Romar Corea
 Discussant: Partha Sen
1.00 p.m – 2.30 p.m, Lunch

2.30 p.m – 4.00 p.m, Session III: Monetary Models & Policy II.
Chair :S.M.N. Islam
Economic Impact of Foreign Direct Investment in South Asia
[abstract] 		Authors:
Pradeep Agrawal
 Discussant: Subrata Sarkar
Impact of Capital flows on the Money supply process of India
[abstract] 		Authors:
Deba Prasad Rath
 Discussant: Naveen Srinivasan
Monetary Policy and the Credit Channel: Evidence from India
[abstract] 		Authors:
Sukanya Bose
 Discussant: Abhaysingh Chavan
4.00 p.m – 4.30 p.m, Tea and Snacks

4.30 p.m – 5.30 p.m, Session IV: General Equilibrium, growth & financial development:
Chair : Susan Thomas
Finance and Global Economic Development:A Numerical Investigation
[abstract] 		Authors:
S.M.N. Islam
N. Billington,
K. B. Oh
 Discussant: Santosh Kumar
Financial Development and Economic Growth in Corporatist and liberal Market Economies
[abstract] 		Authors:
Michael Graff
 Discussant: S.M.N. Islam

7.30 p.m, Dinner Talk "Development of Capital Markets in India", C. B. Bhave, MD   NSDL   

14th December
9.30 a.m – 11.30 a.m, Session V:  Exchange Rates :
Chair: Ashima Goyal
Are Crisis-induced devaluations Contractionary?
[abstract] 		Authors:
Ramkishen S. Rajan
Chung Hua Shen
 Discussant: Kausik Chaudhuri
Real Exchange Rate Trends in Transitional Countries
[abstract] 		Authors:
Jan Frait
Lubos Komarek
 Discussant: Mridul Saggar
Detecting Non-linearities in the Bilateral Daily Nominal Exchange Rates of Indian Rupee
[abstarct] 		Authors:
Allen Roy
B. Kamaiah
 Discussant: Gangadhar Darbha
Long-Run Exchange Rate Determination: An Empirical Evidence of a Simultaneous Equation Model.
[abstract] 		Authors:
R. Madhumathi
Ch. Sreelalitha
Discussant: Lubos Komarek
11.30 a.m ,Tea and Snacks

12.00 noon – 1.00 p.m, Session VI :  Theoretical Aspects of  Growth and Finance :
Chair : Partha Sen
Regionalism and Growth
[abstract] 		Authors:
Sugato Dasgupta
Bhaskar Dutta
Kunal Sengupta
 Discussant: Ashima Goyal
Aspects of Financial Reforms in the Presence of Product Market Imperfection
[abstract] 		Authors:
Samiran Chakraborty
 Discussant: Romar Corea
1.00 p.m – 2.30 p.m, Lunch

2.30 p.m – 4.00 p.m, Session VII :  Banking and Finance:
Chair : Kausik Chaudhuri
Non-Performing Loans of PSU Banks: Some Panel Results
[abstract] 		Authors:
Indira Rajaraman
Garima Vasistha
 Discussant: Jayati Sarkar
E-Commerce Finance in the Knowledge Economy: Issues, Macroeconomic Determinats and Public Policies
[abstract] 		Authors:
S.M.N. Islam
K. B. Oh
 Discussant: Suchismita Bose
Chit Finance in Kerala
[abstract] 		Authors:
Sallyamma Job
 Discussant: Pallavi Chavan
4.00 p.m – 4.30 p.m, Tea and Snacks

4.30 p.m – 6.00 p.m, Session VIII :  Empirical Finance:
Chair : Michael Graff
Asymmetric Volatility Models for Indian Stock Market: An Evaluation
[abstract] 		Authors:
Prabir Kumar Mohanty
B. Kamaiah
 Discussant: Tirthankar Patnaik
Value-at-Risk for Fixed Income portfolios – A comparison of alternative models
[abstract] 		Authors:
Gangadhar Darbha
 Discussant: Prabir Kumar Mohanty
Arbitrage Pricing Theory and the Capital Asset Pricing Model: A Comparative Study in Indian Scenario
[abstract] 		Authors:
G. Raghuram
Discussant: Susan Thomas



15th December
Round Table Conference : Invited speakers
Chair: V. S. Chitre
9.30 a.m to 10.20 a.m
The Evolving Monetary Policy in India: Some Perspectives
 A. Vasudevan
 Discussant:
Abhay Pethe
10.20 a.m – 11.10 am
Capital Account Convertibility, the Financial Sector and Government Policy
 Partha Sen
 Discussant:
Ram Kishen Rajan
11.10 a.m – 11.30 a.m     Round Table Discussion
11.30 a.m– 12.00 noon   Tea Break
12.00 noon – 12.50 p.m
 Business Cycles, Fiscal Deficit and Fiscal Policy Rules
 Manohar Rao
 Discussant:
12.50 p.m – 1.10 p.m       Round Table Discussion
1.00 p.m – 2.30 p.m         Lunch
2.30 p.m – 3.20  p.m
 Implications of Quasi-fiscal Operations on the Financial System and Policies
 K. Kanagasabapathy
B.K. Bhoi
 Discussant: Indira Rajaraman
3.20 p.m – 4.00 p.m        Round Table Discussion
4.00 p.m – 4.30 p.m        Tea Break
4.30 p.m – 5.30 p.m        
Valedictory Address

Chair: Kirit Parikh 		Challenges for Financial Players in India Uday Kotak
Vice Chairman, Kotak Mahindra Finance Ltd. 		 
Vote of Thanks         Kausik Chaudhuri