THE MONETARY TRANSMISSION MECHANISM: THE THEORETICAL ASPECT

The main task of monetary policy is the implementation management decisions in direction regulating processes financial market and speed cash flows with necessary exchange rate or inflation. At same time, indirect goal sustainable economic growth. Accordingly, study principles operation, features application certain instruments at different stages development system state real sector economy determines importance transmission (transmission) mechanism. practical value mechanism lies reflection relationship between pursued by central bank growth state. aim research to analyze existing approaches essence particular order identify most effective channels for under current conditions system. Methodology scientific approaches: methods systematization, comparison, structural analysis, logical generalization, bibliometric analysis were used (using VOSviewer 1.6.15). publications allowed determine tools policy, as well directions their impact on economy. results made it possible assert lack a single approach that would clearly increase A number measures depend primarily targeting regime chosen stated policy. With right tool channel influence determined, state's will respond positive changes, which be reflected increasing GDP, welfare, consequence domestic consumption investment processes. Intensive parallel inflation create additional jobs, wages, contributes accumulation resources Further empirical mechanism, taking into account stage strategy state, allow strengthen its position global environment mitigate negative factors.