UDC 330.34

Komarova O.V.¹ (Yekaterinburg, Russian Federation) – okkomarova@yandex.ru; Kuklinova P.S.¹ (Yekaterinburg, Russian Federation) – kuklinova_ps@usue.ru

¹Ural State University of Economics

Abstract. Analysis of differentiation of countries by rates of economic growth and identification of key parameters of their formation are some of the key research problems of the modern economy. The focus of this study is inflation and unemployment, since they are among the significant factors in the dynamics of the country’s gross domestic product. The purpose of the study is to identify the features of the relationship between inflation, unemployment and economic growth at the current stage of economic development using the example of developed countries and countries with high growth rates. Research methods: analysis, synthesis, comparison and generalization, statistical and correlation analysis. Analysis of the relationship between the rates of economic growth, inflation and unemployment in developed countries (using the example of the G7 countries) and countries with high rates of economic growth included in the BRICS showed different dynamics of these indicators in the considered groups of countries. A positive effect of inflation on the dynamics of GDP was found in developed countries. In countries with high growth rates, unemployment has a greater impact on the dynamics of GDP. The novelty of the study lies in the formation of new problems of analyzing inflation as a factor in economic growth, taking into account the differentiation of countries by rates of economic growth. The obtained results can serve as a basis for subsequent in-depth analysis of key macroeconomic indicators in order to determine the directions of economic policy and improve its effectiveness. The study demonstrated that the analysis of the relationship between economic growth, inflation and unemployment can play an important role in forming priorities between fiscal and monetary regulation, substantiating national models of economic development.

Keywords: inflation, unemployment, economic growth, factors of economic growth, economic policy, Phillips curve, Okun’s law.

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For citation:Komarova O.V., Kuklinova P.S. The impact of inflation and unemployment on economic growth: features of the current stage. CITISE, 2024, no. 4, pp. 232-245.