2012 № 1

Instability of non-inflationary economic equilibrium

Abstract:

The results of the analysis of the stability of the inflation–free state of the economy, described by the basic logistic equation x = 1·b — exp(x·lnx), are presented; it is established that the inflation-free state corresponding to b = 1 is not stable, in the sense that with a coefficient of change in the value of the money supply relative to the socially necessary time b, different from 1, a decrease in b (deflation) in the current reporting period entails even greater deflation in the next reporting period (year), and an increase in b (inflation) entails even greater inflation in the next reporting period (year). This justifies, in view of the instability of the inflationary state of the economy, the need for state regulation of inflationary processes.

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Viktor L. Chechulin – Applicant, Perm State National Research University (Perm, Russian Federation; e-mail:  chechulinvl@rambler.ru).

Sergey V. Rusakov  – Dr. Sci. (Phys.-Math.), Professor, Perm State National Research University (Perm, Russian Federation; e-mail: chechulinvl@rambler.ru).