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Article

New Approach to Inflation Phenomena to Ensure Sustainable Economic Growth

1
Institute of Social Sciences and Applied Informatics, Kaunas Faculty, Vilnius University, Muitines 8, LT-44280 Kaunas, Lithuania
2
School of Electrical and Computer Engineering, National Technical University of Athens, 15780 Zografou, Greece
*
Author to whom correspondence should be addressed.
Academic Editor: Jungho Baek
Sustainability 2022, 14(1), 518; https://doi.org/10.3390/su14010518
Received: 26 November 2021 / Revised: 16 December 2021 / Accepted: 28 December 2021 / Published: 4 January 2022
The problem of inflation is crucial for ensuring sustainable economic growth of the country. In the broadest sense, the economic dimension of sustainable development represents the general economic health of the country. Such macroeconomic indicators as unemployment and inflation rates are the main economic indicators of sustainable development. This article discusses the historical aspects of inflation development and the attitudes of economists towards it. The article presents a new approach to inflation and analyses the main reasons for its formation by developing a new analytical model of aggregate inflation. Based on new analytical model, the theoretical analysis of the formation of an economic bubble is provided based on saturation phenomena and its micro and macroeconomic implications are discussed. The main input of this paper is the creation of an extended (detailed) inflation model representing the main drivers of inflation and therefore contributes to the concept of controlled economic growth, which is necessary to ensure sustainable economic growth of the country. View Full-Text
Keywords: sustainable economic growth; demand-driven inflation; saturation paradox; general interest model; inflation bubble sustainable economic growth; demand-driven inflation; saturation paradox; general interest model; inflation bubble
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MDPI and ACS Style

Girdzijauskas, S.; Streimikiene, D.; Griesiene, I.; Mikalauskiene, A.; Kyriakopoulos, G.L. New Approach to Inflation Phenomena to Ensure Sustainable Economic Growth. Sustainability 2022, 14, 518. https://doi.org/10.3390/su14010518

AMA Style

Girdzijauskas S, Streimikiene D, Griesiene I, Mikalauskiene A, Kyriakopoulos GL. New Approach to Inflation Phenomena to Ensure Sustainable Economic Growth. Sustainability. 2022; 14(1):518. https://doi.org/10.3390/su14010518

Chicago/Turabian Style

Girdzijauskas, Stasys, Dalia Streimikiene, Ingrida Griesiene, Asta Mikalauskiene, and Grigorios L. Kyriakopoulos. 2022. "New Approach to Inflation Phenomena to Ensure Sustainable Economic Growth" Sustainability 14, no. 1: 518. https://doi.org/10.3390/su14010518

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