Developing Economy Macroeconomics-Fresh Perspectives

Aspects of New Keynesian Economic, Rational Expectations and General Equilibrium Macroeconomic theories, issues of dynamics and stability are selectively surveyed in this paper. Insights are extracted from these for analysing special features of a typical developing economy. Building on these, an analytical frame is presented in which the role of demand supply factors m India's medium-run macroeconomic performame can be consistently examined.