ВЛИЯНИЕ ИНФЛЯЦИОННЫХ ОЖИДАНИЙ НА ДОЛГОСРОЧНЫЕ ПОСЛЕДСТВИЯ ИНФЛЯЦИИ

Abstract

In this paper we propose a dynamic general equilibrium model on the basis of Sidrausky's model, which takes into account the process of formation of inflationary expectations by consumers and firms. As a result of the model analysis we obtain that higher expected inflation rate leads to the lower output per employee. The article also provides a comparative characteristics of the impact of the monetary policy on the long-term equilibrium, depending on the formation of inflationary expectations of economic agents and the policy of setting the Central Bank's key rate.