Aggregate supply and optimal inflation (in Russian)

S. Korablin

Economy and Forecasting, 2005, issue 1, 9-32

Abstract: The author describes the model of short-time aggregate supply. He shows, that the optimal inflation level equals to the value such that the first derivative of point elasticity of aggregate supply reduces to zero. In qualitative terms, the level and dynamics of optimal inflation depend on the degree of correspondence of the market institutes to the principles of perfect competition: the lesser is that degree, the greater is the eventual value of optimal inflation. And, on the contrary, removal of market distortions promotes the decrease in its level.

Date: 2005
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