This study examines the relationship between fiscal decentralization and economic growth in the case of India using panel data for 14 nonspecialized states for the period 1981-2014. The results revealed from panel cointegration, and dynamic ordinary least squares (DOLS) framework indicate that spending decentralization has a positive and significant impact on the state domestic product. On the other hand, revenue decentralization has a negative and significant effect on state domestic product. The overall measure of fiscal decentralization is found positively associated with the state income. This study is consistent with the divergence hypothesis in opposite to convergence hypothesis of Oates (1972).

Applying an asymmetric model, the study reported no evidence of J-curve phenomenon in case of India. In the short-run currency appreciation deteriorates the trade balance and currency depreciation improves it. In the long-run, again the similar response is observed, however, only the impact of currency depreciation is statistically significant. Increase in domestic demand deteriorates the trade balance by a greater magnitude than improvement is observed due to the decline in domestic demand conditions. Finally, foreign demand hike improves the trade balance relatively by a higher magnitude; however, the impact of a foreign demand decline is statistically insignificant. JEL Codes: F4, F41, F42

This study aims to understand the dynamics of aggregate and sectorial employment elasticity of output growth in the Kazakhstan economy from 1996 to 2019. To serve our purpose, a rolling regression method with a window of 6 years has been used to estimate aggregate and sectoral employment elasticity, and an ARDL bounds testing approach has been incorporated to assess the impact of various macroeconomics determinants. The results indicate the existence of a cointegration relationship, and the employment elasticity of output growth in Kazakhstan's economy has declined at aggregate and sectoral levels, thus indicating jobless growth. More specifically, the results reveal that inflation, trade openness and the exchange rate are negatively associated with employment elasticity. In contrast, a positive association is established between service sector employment share, the population growth rate and employment elasticity of output growth. The study recommends strengthening macroeconomic fundamentals such as inflation and exchange rate stabilization coupled with robust development of human capital.

Via a poll of fitness employees, this study investigated the impact of corporate culture on job satisfaction and intention to leave the business. The values, attitudes, and basic assumptions that help influence and coordinate member behavior are generally referred to as organizational culture. The Cultural Index for Fitness Organizations (CIFO) was created to particularly measure organizational culture in the fitness industry. Staff competency, environment, connection, formalization, sales, service-equipment, service-programs, and organizational presence were discovered through exploratory factor analysis to be eight components that describe cultural features common to this setting. The path analysis method was used to investigate the relationship between organizational culture variables, job satisfaction, and intention to leave. The findings revealed a partially mediated model of organizational culture that explained 14.3% of the variance in job satisfaction and 50.3% of the variance in job performance the variance with desire to depart the organization. The findings show the multidimensionality and complexity of corporate culture in the fitness industry. The goal of this study is to determine the effect of organizational commitment, servant leadership, and job satisfaction on organizational commitment and job performance via work motivation as moderating variables for economics and management lecturers at private universities in east Surabaya. According to the findings of this study, corporate culture, servant leadership, and work satisfaction all have a favorable impact on organizational commitment and job performance

PurposeThis paper attempts to examine the transmission of exchange rate changes into the domestic prices together with other important determinants of later, in case of a developing country, namely, India.Design/methodology/approachIn an open economy Philips curve framework, a symmetric model developed by Pesaran et al. (2001) together with a complete asymmetric model developed by Shin et al. (2014) has been applied to assess the transmission of exchange rate changes into the domestic prices (inflation) of India. In addition, non-linear cumulative dynamic multipliers are used to portray the route between disequilibrium position of short run and new long-run equilibrium of the system. The multipliers highlight the asymmetric adjustment paths and/or duration of disequilibrium and therefore add valuable information to the long and short-run asymmetry.FindingsIn symmetric framework, exchange rate pass-through is reported to be incomplete and short-run pass through is found to be lower than the long-run pass through. A contractionary monetary policy stance is observed to decrease inflation in the long-run only and in the short-run, a case for price puzzle is observed, although the coefficient is statistically insignificant. Similarly, the impact of output growth is positive in both the short and long-run and both the coefficients are statically significant. Finally, the oil price inflation is also found to escalate the domestic inflationary pressures in both the short and long run, although the pass-through transmission is lower in the short-run than in the long-run. In case of an asymmetric setting, evidence in favour of directional asymmetry is reported whereby long-run impact of currency appreciation is found to be higher than depreciation. Similarly, a contractionary monetary policy action lowers the inflation, the easy one increases it; however, the impact of both the positive and negative changes in interest rate is found to be symmetric. An increase in GR is found to increase the inflation by a relatively appreciable magnitude than is observed when the fall in GR is reported. The possible reason for this asymmetric response of inflation may be explained in terms of asymmetric behaviour of demand conditions during economic upturns and downturns and downward inflexibility of prices. Finally, the transmission of oil price inflation to domestic inflation is also found to be asymmetric. An increase in oil price inflation leads to an increase in domestic inflation by a higher magnitude. whereas a decrease in it lowers inflation only marginally.Practical implicationsFrom a policy perspective, it is certainly important for the central banks to monitor the exchange rate changes so as to design the appropriate policy actions to resist any inflationary pressures resulting from the external sector. More importantly, a gauge on the factors that lead to destabilizing exchange rate movements or large currency price fluctuations is highly warranted. The results also highlight the relevance of proper domestic demand management and lowering dependence on oil imports to avoid the unnecessary inflation pressures in the economy.Originality/valueWhile some studies have explored the possibilities of asymmetric interactions in the case of India, however, these studies have considered only the partial asymmetric model specifications and have not included a well-established theoretical base to include the other potential determinants of inflation as well. In this regard, the authors applied a complete asymmetric model specification developed by Shin et al. (2014) in an open economy Philips curve framework to assess the transmission of exchange rate changes into the domestic prices (inflation) of India. This paper will enrich the existing literature from a viewpoint of a comprehensive analysis of exchange rate pass-through by taking note of potential asymmetries coupled with other important determinants of inflation.