Evaluation of anti-inflationary monetary policy effectiveness for various groups of countries

Abstract

The author examines the influence of various factors of cross-country development on the effectiveness of monetary policy in conditions of price instability. The main problem (subject) of the article is to study the influence of the structural and institutional features of the country that influence the dominant causes and nature of inflation. The purpose of the study is to determine the factors influencing the effectiveness of anti-inflationary monetary policy models for various groups of countries. Content analysis, benchmarking, logical analysis, descriptive analysis method were used as research methods. The scientific novelty of the study lies in assessing the effectiveness of anti-inflationary monetary policy for various countries according to their classification groups and substantiating the factors that determine the effectiveness of model approaches to anti-inflationary monetary policy. A decrease in efficiency means that the effect of using a tool decreases as its use increases. As a result of the study, the most effective channels of the transmission mechanism for various groups of countries are substantiated, depending on their structural and institutional features. The results of the study include conclusions about the influence of individual structural and institutional features on the dominant factors of inflation. It is also shown how this dependence affects the features of the monetary policy of the considered groups of countries in terms of inflation.