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Monetarist Theory and Inflation Processes in Russia

Author: Vladimir V. Ilyashenko, Dr. Sc. (Econ.), Prof. of Political Economy Dept.

Abstract: The interrelation of monetarist theory and inflation is examined, ambiguity of dependence between quantity of money in circulation and level of prices is shown. Inflationary processes in Russia and prevalence of cost-push inflation in their development are analyzed. The role of the antitrust law in overcoming inflation is pointed out.

Keywords: inflation; level of prices; monetarist theory; monetary circulation; equation of exchange; demand for money; money supply; monetary policy; cost-push inflation; antitrust laws.