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This paper aims to understand the significant farm and market-level factors that incentivize the adoption and marketing of pulses influencing its supply response to changing demand.

The authors first use a modified Nerlovian supply response model using secondary data to identify the major price and non-price factors influencing the supply of pigeon pea, black and green gram in the major pulses growing states in India. Second, using primary qualitative data the authors map the pulses value chain from farm to retail to identify the how proportional and fixed transaction costs (FCTs) influence market participation of pulses growers and limit the transmission of price and quality information.

The supply response model shows some positive influence of price on area allocation for pigeon pea and black gram and some negative effects of yield and price increase of competing crops on pigeon pea acreage. However, for the most part, the area of Kharif pulses is inelastic to prices in the long run. Irrigation, rainfall and yields in the lag year are shown to have a significant influence on area allocation for pulses. The market study reveals that low yields, low landholding size and geographical disadvantages of high agro-climatic risk and poor connectivity hinder market access of pulses farmers relative to other crops. Market power in favor of buyers and poor price and quality information is a disadvantage to sellers, influencing their ability to participate in markets.

A quantitative study would be required to identify the magnitude of farm and market-level transaction costs.

This study helps to understand the supply response of pulses and gives suggestions to direct policy to rectify this.

Though an accumulating body of study has analysed monetary policy transmission in India, there are few studies examining the differential impact of monetary policy action. Against this backdrop, this study aims to analyse the differential impact of monetary policy on aggregate demand, aggregate supply and their components along with the general price level in India.

The study develops a structural macroeconometric model, which is primarily aggregate and eclectic in nature. The generalized method of movements is used for estimation of behavioural equations, while a Gauss–Seidel algorithm is used for model simulation purposes.

The paper presents the results of two policy simulations from the estimated model that highlight the differential impact of monetary policy. The first one, hike in the policy rate by 5% and second is a reduction in bank credit to the commercial sector by 10%. The results from the first policy simulation experiment reveal that interest hike has a significant negative impact on aggregate demand, aggregate supply and general price level. However, the maximum impact is borne by investment demand and imports followed by private consumption. While as among the components of aggregate supply maximum impact is born by infrastructure output followed by the manufacturing and services sector with the agriculture sector found to be insensitive in nature. The results from the second policy simulation experiment revealed that pure monetary shocks have a significant negative impact on aggregate demand, aggregate supply and general price level. However, the maximum impact is born by private consumption and imports followed by investment demand. While as among components of aggregate supply maximum impact is borne by infrastructure followed by the manufacturing and services sector with the agriculture sector found to be insensitive in nature. From both policy simulation experiments, the study highlighted the relative importance of the income absorption approach as opposed to the expenditure switching effect.

The results obtained in this study provides a strong framework for design the monetary policy framework. The results are in a view of the differential impact of monetary policy action among the components of both aggregate demand and aggregate supply. This reflection of differential impact has immense significance for the macroeconomic stabilization as the central bank will have to weigh the varying repercussion of its actions on different sectors. For instance, the decline in output after monetary tightening might be conceived as mild from an overall perspective, but it can be appreciable for some sectors. This differential influence will have an implication for policy design to care for distributional aspects, which otherwise could be neglected/disregarded. Similarly, the output decline may be as a result of either consumption postponement or a temporary slowdown in investment. However, the one emanating due to investment decline will have lasting growth implications compared to a decline in consumer demand. In addition, the relative strength of expenditure changing or expenditure switching policies of trade balance stabilization may have varying consequences in the aftermath of monetary policy shock. Accordingly information on the relative sensitiveness/insensitiveness of different sectors/ components of aggregate demand towards monetary policy actions furnish valuable insights to monetary authorities in framing appropriate policy.

The work carried out in the present paper is motivated by the fact that although a number of studies have examined the monetary transmission mechanism in India, a very few studies examining the differential impact of monetary policy action. However, to the best of the knowledge, there is no such studies, which have examined the differential impact of monetary policy in the structural macro-econometric framework. The paper will enrich the existing literature by providing a detailed account of the differential impact of monetary policy among the components of both aggregate demand and aggregate supply in response to an interest rate hike, as well as a decrease in the money supply.

Supply chains need to balance competing objectives; in addition to efficiency, supply chains need to be resilient to adversarial and environmental interference and robust to uncertainties in long-term demand. Significant research has been conducted designing efficient supply chains and recent research has focused on resilient supply chain design. However, the integration of resilient and robust supply chain design is less well studied. The purpose of the paper is to include resilience and robustness into supply chain design.

The paper develops a method to include resilience and robustness into supply chain design. Using the region of West Africa, which is plagued with persisting logistical issues, the authors develop a regional risk assessment framework and then apply categorical risk to the countries of West Africa using publicly available data. A scenario reduction technique is used to focus on the highest risk scenarios for the model to be tractable. Next, the authors develop a mathematical model leveraging this framework to design a resilient supply network that minimizes cost while ensuring the network functions following a disruption. Finally, the authors examine the network's robustness to demand uncertainty via several plausible emergency scenarios.

The authors provide optimal sets of transshipment hubs with varying counts from 5 through 15 hubs. The authors determine there is no feasible solution that uses only five transshipment hubs. The authors' findings reinforce those seven transshipment hubs – the solution currently employed in West Africa – is the cheapest architecture to achieve resilience and robustness. Additionally, for each set of feasibility transshipment hubs, the authors provide connections between hubs and demand spokes.

While, at the time of this research, three other manuscripts incorporated both resilience and robustness of the authors' research unique solved the problem as a network flow instead of as a set covering problem. Additionally, the authors establish a novel risk framework to guide the required amount of redundancy, and finally the out research proposes a scenario reduction heuristic to allow tractable exploration of 512 possible demand scenarios.

The purpose of this paper is to assess both short and long-term influences of public investment on economic growth and test the hypothesis that whether public investment promotes or demotes private investment in Vietnam.

The authors use the approach of autoregressive distributed lag model and Vietnam’s macro data in the period of 1990-2016, to evaluate the short and long-term effects of public investment on economic growth and private investment. The model evaluates the impact of public investment on economic growth and private investment based on the neoclassical theories. The public investment which strongly affects economic growth is also reflected by aggregate supply and demand. Public investment directly impacts aggregate demand as a government expenditure and aggregate supply as a production function (capital factor).

The results from this research indicate that public investment in Vietnam in the past period does affect economic growth in the pattern of an inverted-U shape as of Barro (1990), with positive effects mostly occurring from the second year and negative effects of constraining long-term growth. Meanwhile, investment from the private sector, state-owned enterprises, and FDI has positive effects on short-term economic growth and state-owned capital stock has positive impacts on economic growth in both the short and long run. The estimated influence of public investment on private investment also shows a similar inverted-U shape in which public investment have crowding-in private investment short-term but crowding-out in the long run.

The empirical findings in this study can be used for conducting a more efficient policy in restructuring the state sector investment in Vietnam.

The main contributions in this study are: to evaluate the impacts of public investment on economic growth and private investment, the authors extracted public investment in infrastructure from aggregate investment of state sector (as previous studies used); the authors also uses state-owned capital stock variable including cumulative public investment and state-owned enterprises investment suggesting that this could control for the different orders of integration between the stock and flow variable and improve the experimental characteristics of the equation to a higher degree.

Marx’s monetary theory is an important part of Marxist economics and an irreplaceable milestone in the intellectual history of the monetary theory. The purpose of this paper is to summarize the main content of Marx’s monetary theory from three aspects: the source and nature of money, the function of money and the historical significance of money.

Moreover, this paper also gives an extended understanding of Marx’s monetary theory from four perspectives: the endogenous credit mechanism of money, the functions of money and demands for money, the financial function of money and the economic and social functions of money.

Lastly, the present paper discusses the practical significance of Marx’s monetary theory from three perspectives, namely, the inspection of “Bitcoin” from the nature and function of money, the definition of demands and the division of supplies at the monetary level, and the prevention of systemic financial risks and the focus of financial supervision.

Marx’s monetary theory is an important part of Marxist economics and an irreplaceable milestone in the intellectual history of the monetary theory. However, for a long time, the contribution of Marx has rarely been mentioned in the intellectual history of monetary theory. Even the book, Political Economy (On Capitalism), has been only summarily concerned with the source and function of money in Marx’s monetary theory, rather than revealing Marx’s outstanding contribution in the monetary theory and the financial connotation of Marx’s monetary theory, and expounding its practical significance.

This study aims to explore how sustainable business models (SBM) can be developed within agri-innovation systems (AIS) and emphasize an integration of the two with a systemic understanding for reducing food loss and value loss in postharvest agri-food supply chain.

This study conducted longitudinal qualitative research in a developing country with food loss challenges in the postharvest supply chain. This study collected data through multiple rounds of fieldwork, interviews and focus groups over four years. Thematic analysis and “sensemaking” were used for inductive data analysis to generate rich contextual knowledge by drawing upon the lived realities of the agri-food supply chain actors.

First, this study finds that the value losses are varied in the supply chain, encompassing production value, intrinsic value, extrinsic value, market value, institutional value and future food value. This happens through two cumulative effects including multiplier losses, where losses in one model cascade into others, amplifying their impact and stacking losses, where the absence of data stacks or infrastructure pools hampers the realisation of food value. Thereafter, this study proposes four strategies for moving from the loss-incurring current business model to a networked SBM for mitigating losses. This emphasises the need to redefine ownership as stewardship, enable formal and informal beneficiary identification, strengthen value addition and build capacities for empowering communities to benefit from networked SBM with AIS initiatives. Finally, this study puts forth ten propositions for future research in aligning AIS with networked SBM.

This study contributes to understanding the interplay between AIS and SBM; emphasising the integration of the two to effectively address food loss challenges in the early stages of agri-food supply chains. The identified strategies and research propositions provide implications for researchers and practitioners seeking to accelerate sustainable practices for reducing food loss and waste in agri-food supply chains.