Critique of the New Consensus Macroeconomics and Implications for India
By:Dilip M. Nachane
Published on 2018-11-02 by Springer
The thought-provoking book presents alternative viewpoints to mainstream macroeconomic theory, questions conventional policy wisdom and suggests a systematic re-orientation of current macroeconomic and financial regulatory policies in India. The New Consensus Macroeconomics (NCM), which established itself in the 1980s as mainstream macroeconomics, essentially represents an “uneasy truce” between two dominant schools of economic thought viz. New Classical and Neo-Keynesian economics. The NCM sets the tone for much of the macroeconomic (especially monetary) policy followed by the advanced economies in the period of the Great Moderation (1990–2005). The recent global crisis has posed a major challenge to the NCM as empirical models based on the NCM failed to anticipate the occurrence of the crisis and later its extent and severity. The above considerations constitute the underpinnings of this book, which addresses the theoretical controversies within a general context and their policy implications for India. The authors’ analysis leads to a somewhat critical assessment of the financial sector policies followed in India since the initiation of reforms in 1991. This makes the book a valuable resource not only for researchers working in this area, but also for policy makers.
This Book was ranked at 5 by Google Books for keyword dictionary of economics.
Book ID of Critique of the New Consensus Macroeconomics and Implications for India's Books is CQN2DwAAQBAJ, Book which was written byDilip M. Nachanehave ETAG "s1jPu7Tzc1A"
Book which was published by Springer since 2018-11-02 have ISBNs, ISBN 13 Code is 9788132239208 and ISBN 10 Code is 8132239202
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