The paper attempts to firstly, build aggregate demand and supply curves for the non-agricultural sector of the Indian economy. Secondly, use these to briefly analyze demand and supply shocks, including the structural adjustment program (SAP). Thirdly, shed new light on the inflationary process...

Strategic interaction between fiscal and monetary authorities and economic agents, can lead to the creation of more populism than is socially optimal. The tradeoffs through which this occurs, important for a populous democracy with a large number of poor, is that between populism and growth....

In a simple 2 sector general equilibrium macromodel profit maximisation by a representative firm leads to multiple long-run non-Walrasian equilibria with excess profits and excess capacity. The model is reduced to two non-linear differential equation. Using calibration and simulation it is shown...