engleski

Monetary Transmission Mechanisms in Transition Economies

This paper gives an historical and theoretical overview of different channels of monetary transmission mechanism in order to provide the background for illustration of cross-country transmission mechanism differences. The specific details of transmission mechanism of monetary policy in emerging economies are discussed in more detail in order to emphasize the relative importance of different transmission channels for the conduct of monetary policy that is often aimed at different monetary targets. The paper encompasses the similarities and differences between monetary transmission in selected emerging economies with special reference to Croatia and in doing so it addresses challenges that the central banks of transitional economies face in context of different policies they use.

transition economies; monetary policy; transmission mechanism; central bank.

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