Аннотация:
: The objective of the study was to determine the effect
of inflation volatility on an enterprise's innovation strategy. The
study showed that increasing inflation leads to a decrease in the
stationary level of potential output, as well as to a decrease in the
rate of economic growth in the process of transition to a stationary
state. A formula is proposed for calculating the total effect of
inflation on the level of enterprise output. The negative impact of
the inflation rate on the welfare of economic agents was revealed,
which is expressed in the fall in their equilibrium consumption
level. Higher-income countries have been shown to suffer more
from high inflation than poorer countries. All conclusions made
in the analysis of the dynamic model of the impact of inflation on
potential output are verified based on econometric modelling
using methods and models for panel data: models with fixed
effects, models with random effects, and a generalized method of
moments. Moreover, the obtained empirical results are stable
concerning changes in the specification of the equation and
estimation methods.
