The Transmission Mechanism of Monetary Policy
Journal Title: Globalization and Business - Year 2016, Vol 2, Issue 2
Abstract
The transmission mechanism’s work is a very complex process which varies from time to time to meet objective of monetary policy. Official interest rate variations via trans- mission mechanism of monetary policy effects economic outputs and inflation, with some lags and the results deviate from policy objectives. The extent of variations depend on many factors but key factors are: level of financial system development, expectations and confi- dence, central bank’s independence, and country’s fiscal position. Because of weaknesses of these factors in developing countries like Georgia, Central bank on top of the transmission mechanism should employee strict control over monetary aggregates’ expansion process
Authors and Affiliations
Givi Lemonjava
Keywords
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