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We assess the impact of ECB monetary policy on global aggregate and sectoral commodity prices over 2001–2019. We employ an SVAR model and separately assess periods before and after the global financial crisis. Our key results indicate that contractionary monetary policy shocks have positive effects on commodity prices during both conventional and unconventional monetary policy periods, indicating the effectiveness of unconventional monetary policy tools. The largest impact is documented on energy (fuel) and food commodities. Our results also suggest that the effect of ECB monetary policy on commodity prices transmits through the exchange rate channel, which influences European market demand.

The paper highlighted the role of national mechanisms for the protection of social rights. For this purpose its judicial and administrative remedies have been analyzed. The significance of the constitutional protection of the justice system, her legislative experience in the field of social security, legal and regulatory framework, features, procedural and substantive issues considered on the basis of scientific and theoretical considerations. Along with this, the paper considers a system of judicial protection of social rights, it’s civil, administrative and judicial properties, and shows the primary form of protection issues. Through administrative remedies and the Institute of Human Rights Commissioner (Ombudsman), the paper examined the current legal framework for the protection of social rights, and analyzed their activity in this field. As a result, the author has put forward a number of recomendations.