We make an empirical attempt to model the Indian economy at an aggregate level with annual data, ranging from 1980 to 2019. Our major theoretical premise mimics the New Keynesian framework, which is based on the microeconomic foundations of Keynesian economics. We propose a whole economic...

This research piece is an empirical attempt to model the Indian economy at an aggregate level with annual data, ranging from 1980 to 2019. The major theoretical premise of the paper mimics the New Keynesian framework, which is based on the microeconomic foundations of Keynesian economics. The...

This research piece is an empirical attempt to model the Indian economy at an aggregate level with annual data, ranging from 1980 to 2019. The major theoretical premise of the paper mimics the New Keynesian framework, which is based on the microeconomic foundations of Keynesian economics. The...

How a macroeconomic policy package is designed depends critically on whether the economy in question is supply constrained or demand constrained. In simple terms, this may often be seen in terms of whether the policies should try to augment demand or to raise productive capacity. The question is...

Macroeconomic modelling is generally motivated by two objectives: forecasting and more significantly, policy analysis. In pursuit of both these objectives, every model must ideally satisfy four criteria. First and foremost, it must fit into a theoretical framework. Second, the actual...

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