Building of long-run Phillips curve in the transitive Ukrainian economy

Abstract

It has been built long-run Phillips curve in transitive Ukrainian economy in 2013-2020 that showed it acted only in severe years (2014-2015) but when Ukrainian economy experienced stagflation processes both indicators considerably increased (2013, 2016, 2020). In the article it has been also recommended the possible measures that could be taken to reach long-run macroeconomic equilibrium: increase in interest rate for credits in foreign currencies and decrease in interest rate for credits in national currency; increase in money supply by carrying out of exchange interventions from National bank of Ukraine and development of export-oriented industries of the national economy; regulation of exchange rate by setting of impossible deviation of nominal exchange rate from real exchange rate by only 1%.