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Relationship of Inflation (Deflation) and Phases of the Economic Cycle. The Reason for Inoperability of the Phillips Curve


Valeriy Petukhov
(about the author)

Petukhov Valeriy Aleksandrovich –

Published in:
Russian Journal of Entrepreneurship
– № 5-2 / May, 2011



Keywords: discounting, economic cycle, inflation (deflation), inflation and unemployment, npv, overall labor productivity, phases of economic cycle, phillips curve, stagflation


Citation:
Valeriy Petukhov (2011). Relationship of Inflation (Deflation) and Phases of the Economic Cycle. The Reason for Inoperability of the Phillips Curve. Russian Journal of Entrepreneurship, 12(5), 4-9. — url: http://bgscience.ru/com/lib/2964


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Abstract:

The analysis conducted by the author allows us to reasonably assume that fluctuations of the rate of profit are the nature of economic cycles. Further, the author tries to prove that the rate of profit does not depend on inflation (deflation) (assuming a uniform rise in prices for all products). Therefore, inflation (deflation) may be present in all phases of the economic cycle.







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