The viability of asset price channel implementation to the monetary transmission mechanism of Ukraine
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Author(s)Serhiy KozmenkoLink to ORCID Index: https://orcid.org/0000-0001-7710-4842
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Oleksiy PlastunLink to ORCID Index: https://orcid.org/0000-0001-8208-7135
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DOIhttp://dx.doi.org/10.21511/imfi.13(4).2016.05
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Article InfoVolume 13 2016, Issue #4 , pp. 58-67
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- 1223 Views
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459 Downloads
Monetary transmission mechanism is a key element of the central bank’s activity, where the asset price channel plays an important role among others. Although in Ukraine it is not used. The viability analysis of this channel implementation in the monetary transmission mechanism of Ukraine is executed and the finding about current unavailability for this is made. However, the perspectivity and necessity of asset price channel implementation in the monetary transmission of Ukraine already today requires the creation of theoretic base appropriate for this. Therefore some propositions on the assets price channel implementation in the monetary transmission mechanism of Ukraine are offered.
Keywords: Central Bank, the asset price channel, monetary transmission mechanism, monetary policy, Tobin’s q effect.
JEL Classification: Е52, Е58
