Dynamický model stability inflačného procesu na báze kvantitatívnej teórie peňazí

Dynamic model of inflation stability based on quantity theory of money

Jaroslav Husár and Karol Szomolányi ()

Politická ekonomie, 2009, vol. 2009, issue 1, 48-57

Abstract: In this paper the stability of an inflationary process is examined. A dynamic model of the inflation has been developed based on the quantity theory of money. Some theorists say that any rate of inflation other than zero is inherently instable. They say that as people become aware of the fact of continues inflation, however slow, they will anticipate inflation and this anticipation generates inflation. We showed that there exists a model, which helps us to understand that inflation is not necessarily explosive. We follow the ideas of Ph. Cagan.

Keywords: inflation; dynamic model; expected inflation; inflation process stability (search for similar items in EconPapers)
JEL-codes: C62 E31 E51 (search for similar items in EconPapers)
Date: 2009
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DOI: 10.18267/j.polek.669

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