Abstract
This article investigates issues of assessing effectiveness of the monetary policy in terms of the impact on the country’s economic growth and the welfare of the population. The authors carried out comparative analysis of the relationship between money supply in the country and level of well-being of the population on the example of Russia, the USA and Germany. Special attention is paid to the search for criteria of assessing effectiveness of measures in the field of monetary policy and state programs aimed at economic growth and growth in the level of real disposable income of the population.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Bazhan, A.: ECBs unconventional monetary policy. Contemporary Europe 4, 37–48 (2019)
Casiraghi, M., Gaiotti, E., Rodano, L., Secchi, A.: A “reverse Robin Hood”? The distributional implications of non-standard monetary policy for Italian households. J. Int. Money Fin. 85, 215–235 (2018)
de Mendonça, H.F., Nascimento, N.C.: Monetary policy efficiency and macroeconomic stability: do financial openness and economic globalization matter? North Am. J. Econ. Fin. 5, 100870 (2020)
Dubova, S.E., Kyznetsova, S.V.: Methodology for assessing the effectiveness of the Central Bank’s monetary policy. Izvestia of Higher Educ. Inst. Ser.: Econ. Fin. Prod. Manag. 4(10), 6–13 (2011)
Federal Reserve Act: Public Law 63–43, 63d Congress, H.R. 7837: An act to provide for the establishment of fFederal Reserve Banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes (2013). https://fraser.stlouisfed.org/title/federal-reserve-act-966. Accessed 15 June 2020
Institute of Research and Expertise: Trends in development of the Russian economy under the conditions of the coronavirus pandemic and possible anti-crisis measures (2020). http://inveb.ru/attachments/article/247/%20%D0%B8%20%D0%B0%D0%BD%D1%82%D0%B8%D0%BA%D1%80%D0%B8%D0%B7%D0%B8%D1%81%D0%BD%D1%8B%D0%B5%20%D0%BC%D0%B5%D1%80~.pdf. Accessed 09 June 2020
Rosati, U.A.M.: The European economic and financial system between wages deflation and structural unemployment. In: Özşahin, M., Hıdırlar , T. (eds.), Proceedings of the Joint conference ISMC 2018-ICLTIBM 2018-14th International Strategic Management Conference and 8Th International Conference of Leadership, Technology, Innovation and Business Management. European Proceedings of Social and Behavioural Sciences, vol. 54, pp. 204–216. Future Academy, London (2019)
Semilov, N.M.: Assessment of the impact of monetary policy instruments of the Central Bank of the Russian Federation on investment processes in the Russian economy. Econ. Entrepr. 10–1(63), 146–149 (2015)
The World Bank: GINI index (World Bank estimate) - United States (2020). https://data.worldbank.org/indicator/SI.POV.GINI?locations=US. Accessed 09 June 2020
Thomson Reuters Eikon: Programing product for data analysis - Refinitiv DataStream (2020) https://amers2.login.cp.thomsonreuters.net/auth/cdcservlet?theme=charcoalandgoto=https%3A%2F%2Famers2.apps.cp.thomsonreuters.com%3A443%2Fweb%2FApps%2FEquities%2FandRequestID=113949030andMajorVersion=1andMinorVersion=0andProviderID=https%3A%2F%2Famers2.proxy.cp.thomsonreuters.com%3A443%2FamagentandIssueInstant=2020-06-19T08%3A40%3A45Z#/GEQ03?s=GEQ03%2BAP%2B7Z. Accessed 09 June 2020
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2021 The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG
About this paper
Cite this paper
Kalmykov, V.V., Pomulev, A.A. (2021). Criteria for Assessing the Effectiveness of Monetary Policy of the State. In: Ashmarina, S.I., Horák, J., Vrbka, J., Šuleř, P. (eds) Economic Systems in the New Era: Stable Systems in an Unstable World. IES 2020. Lecture Notes in Networks and Systems, vol 160. Springer, Cham. https://doi.org/10.1007/978-3-030-60929-0_74
Download citation
DOI: https://doi.org/10.1007/978-3-030-60929-0_74
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-60928-3
Online ISBN: 978-3-030-60929-0
eBook Packages: EngineeringEngineering (R0)