Open AccessEvolution of approaches to the concept of monetary transmission mechanism
Author(s) -
Alina Grebenkina
Publication year - 2020
Publication title -
vestnik voronežskogo gosudarstvennogo universiteta. seriâ èkonomika i upravlenie
Language(s) - English
Resource type - Journals
ISSN - 1814-2966
DOI - 10.17308/econ.2020.3/3098
Subject(s) - mechanism (biology) , monetary transmission mechanism , transmission (telecommunications) , computer science , process (computing) , transmission channel , extension (predicate logic) , economics , macroeconomics , monetary policy , credit channel , telecommunications , epistemology , inflation targeting , programming language , philosophy , operating system
Importance. The article examines evolution of the concept of the monetary transmission mechanism in a broad and narrow sense in a view of economic thought development and of empirical and econometric analysis improvement.Objectives. The article aims to provide an overview of historical and modern approach to the definition and analysis of monetary transmission mechanism and its channels.Methods. To achieve the goal, the article uses descriptive method of analysis, aggregation of historical and modern concepts of monetary transmission mechanism and its formal systematization.Conclusions. The article shows that modern approach to the analysis of the monetary transmission mechanism has pronounced functional grounds and allows to apply a wide range of research methods. At the same time, the process of channels particularization and emerging role of global, supranational channels may lead to extension of the monetary transmission mechanism concept in general.