The influence of monetary policy on macroeconomic stability in the conditions of globalization

Tarasevych Nataliіa
PhD in Economics, Аssociate professor of the Department of Banking, Odessa National Economic University, Odessa, E-mail:nvt4364@gmail.com, ORCID ID: https://orcid.org/0000-0002-2110-7320

Cite this article:

Tarasevych N. (2022) The influence of monetary policy on macroeconomic stability in the conditions of globalization. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Vplyv hroshovo-kredytnoi polityky na makroekonomichnu stabilnist v umovakh hlobalizatsii; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 5-6 (294-295), pp. 42-48.

Abstract

Purpose. The purpose of the article is to assess the impact of key indicators of monetary policy on macroeconomic stability in the context of globalization. Method. the system-analytical method was used; comparison method - to determine the causes and degree of impact of dynamic changes and deviations; grouping method - to systematize factual data; method of tabular display of analytical data - for displaying analytical information. Results. The main objectives of monetary policy are outlined as levels of assessment of the effectiveness of monetary policy: strategic, intermediate and operational objectives. Selected criteria for the effectiveness of monetary policy at the macroeconomic level: balanced economic growth, financial, price and currency stability, increasing incomes; money supply, inflation forecast, net international reserves; weighted average exchange rate of hryvnia against the dollar and the euro, short-term interest rate and monetary base Substantiated indicators for assessing the effectiveness of monetary policy. These indicators include GDP growth, fixed capital investment growth rate, unemployment rate, stability of financial markets and financial institutions, balance of payments dynamics, inflation rates, exchange rate stability, consumer price index, exchange rate dynamics, real incomes, consumer volume lending, money supply, monetization of the economy. The dynamics of the main macroeconomic indicators and their relationship with the effectiveness of monetary regulation in Ukraine are analyzed. Priority areas for further optimization of monetary policy have been identified. Practical importance. The practical importance of the study is to determine the impact of monetary policy on macroeconomic stability in the context of globalization

Keywords

monetary policy, macroeconomic stability, macroeconomic indicators, monetary regulation, globalization.

JEL classification: Е520; Е690; DOI: 10.32680/2409-9260-2022-5-6-294-295-42-48

UD classification: 332.1: 338.4

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