Scherbina T. Monetary policy transmission mechanism in open economy

Dissertation is devoted to the improvement of theoretical and methodical bases for analyzing macroeconomic relations which mediates monetary policy transmission mechanism functioning in open economy and practical recommendations for the development of transmission channels operating. The thesis studies the theoretic fundamentals of the monetary transmission process. The research develops approach to investigation money impulse transferring processes with a glance to flows nature of the phenomena on the flow-units model of the monetary policy transmission mechanism base. Based on the systematization of scientific research regarding this issue the thesis develops a theoretical basis for the existence of channel-to-channel interrelations in transmission mechanism, both on national, and international level through proving relations between percent and credit channel of impulse transferring. It studies the peculiarities of the national monetary policy channels working and offers ways to improve it. The thesis explains the necessity of proving central bank communication policy and develops theoretical and methodical approaches to the provision of an efficient communication strategy.