Pratik Ghansham Salvi Assistant Professor of Economics | Banking & Finance | IMF Finance & Development Contributor

Monetarism vs. Keynesianism: Rethinking Discretionary Policy and Aggregate Demand Management in the Modern Era The economic landscape of the 21st century presents a complex challenge for policymakers. The Great Recession shattered some of the core tenets of traditional economic thought, prompting a reevaluation of how best to manage economic fluctuations. This article explains the ongoing debate…

Enhancing Fiscal Sustainability : Why India Needs Independent Fiscal Council?  Maintaining a healthy balance between government spending and revenue is crucial for long-term economic growth and stability. This concept, known as fiscal sustainability, is a pressing concern for India. The nation faces challenges like rising public debt, fluctuating revenue streams, and pressures for populist spending. To navigate…

The IS-LM Model as a Tool for Effective Policymaking : Fiscal and Monetary Policy The analysis of fiscal and monetray policy is important for macroeconomic stability especially price stability and sustailed economic growth. Fiscal and monetary policies differ with each other in the sense that generally fiscal policy refers to to the government’s distribution and taxation policy…

The Impact of Government Debt Financing on Inflation and Economic Stability Every Government in the world has debt financing problems and its consequences will be on inflation and economic stability in the short-run as well as long-run. Governments all over the world heavily invested in fiscal projects, for example, buliding roads, transportation, public utility services…

The theory of distribution occupies an important place in understanding how the diffrent factor endownments is determined. This concept evolved from classical economists to the neo-classical and liberal. However, it is important to note that this concept of marginal productivity theory is generally associated with the neo-classical theory. Furthermore, it basically focuses on how wage…

The human desire for both a comfortable living and a fulfilling life beyond work creates a fundamental tension in every economy. This tension arises from the work-leisure trade-off, where individuals must decide how much time to dedicate to earning income through work and how much time to devote to leisure activities for personal well-being. This…