Journal of Quantitative Economics

, Volume 17, Issue 3, pp 707–709 | Cite as

Dilip M. Nachane: Critique of the new consensus macroeconomics and implications for India

  • Kamaiah BandiEmail author
  • Rajendra N. Paramanik
Book Review

It is undoubtedly refreshing to go through the scholastic and erudite book titled ‘Critique of the New Consensus Macroeconomics and Implications for India’ (Published by Springer India) written by Professor Dilip M. Nachane, an eminent scholar and a reputed quantitative economist. The book provides an intellectual feast by presenting such granular details and a gripping note on evolution of modern macroeconomics, compelling, not surprisingly, ex-World Bank Chief Economist, Prof. Kaushik Basu to confess that he would have loved to have had this book on hand during his tenure as Chief Economic Advisor to Government of India. This unusual volume delivers a story, less heard in academic lullaby where gallantry of invincible New Consensus Macroeconomics (NCM) has been scrutinized through a thorough and detail intellectual dissection of economic literature. NCM, being a blend of different ideas from diverget schools of economic thought like stickiness of price and wage of new Keynesian...



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Copyright information

© The Indian Econometric Society 2019

Authors and Affiliations

  1. 1.School of EconomicsUniversity of HyderabadHyderabadIndia
  2. 2.Indian Institute of TechnologyPatnaIndia

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