On modelling of money growth influence on inflation and production level dynamics (Q2716032)

The authors deal with the description of economic agents interaction on micro level. It is shown, that among the existing micro and macro analysis schemes there are only two cases yielding to theoretical analysis. The first corresponds to the neoclassical mechanism of desequilibrium regulation and the second presents the friction mechanism of nominal rigidities. The proposed approach allows to remove the polarity of the existing models at the expense of taking into account producers inflation expectations and the introduction of adaptation mechanisms to the emerging desequilibrium.