THE CONCEPT OF INFLATION AND ITS’ ESSENTIAL ROLE IN THE ECONOMY
Journal Title: World Science - Year 2017, Vol 2, Issue 5
Abstract
The study of causes of inflation has probably given rise to one of the most significant macroeconomic debates in the field of economics. In practice; however, it is not always easy to decompose the observed inflation into its monetary, demand-pull, cost-push and structural components. The process is dynamic, and the shocks to prices are mixed. Furthermore, inflation itself may also cause future inflation. This article, mainly attempts to review and analyze the competing and complementary theories of inflation. That is to say, inflation is always and everywhere a macroeconomic and institutional phenomenon.
Authors and Affiliations
I. I. Juraev, D. J. Mamatkulova
Keywords
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