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Dynamic Model Of Inflation Stability Based On Quantity Theory Of Money

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Author Info
Jaroslav Husár
Karol Szomolányi

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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.

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Publisher Info
Article provided by University of Economics, Prague in its journal Politická ekonomie.

Volume (Year): 2009 (2009)
Issue (Month): 1 ()
Pages: 46-55
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Handle: RePEc:prg:jnlpol:v:2009:y:2009:i:1:id:669:p:46-55

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Related research
Keywords: inflation process stability; inflation; expected inflation; dynamic model;

Find related papers by JEL classification:
C62 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Existence and Stability Conditions of Equilibrium
E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers

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This page was last updated on 2009-12-2.

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