Chakraborty, Pinaki; Chakraborty, Lekha S - Volkswirtschaftliche Fakultät, … - 2006
The paper empirically examines the validity of Keynesian philosophy of contracyclical variation in fiscal policy to the macroeconomic activity in India. The macroeconomic activity is proxied by ‘output gap’ a concept defined to estimate the index of economic activity. Applying Johansen’s...