The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 2/2024.  Finance.

Vladimir A. Belyaev

Researcher at the International Scientific Laboratory “New Trends in International Finance” MGIMO Ministry of Foreign Affairs of Russia, Moscow, Russia

ORCID: 0000-0002-7422-5515

RESOLVED AND UNRESOLVED PROBLEMS OF MONETARY POLICY: AN ATTEMPT TO SYSTEMATIZE

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Abstract

The article examines the main stages in the development of monetary policy over the past century. The author analyzes the impact of crises on changes in its instruments, the growth of the role of banks, and also traces the evolution of the theoretical apparatus of monetary policy under the influence of various economic schools and concepts, starting from the classical school and to the formation of mainstream economic theory. The impact of the development of mainstream economic theory, the 2008 crisis, as well as the COVID-19 pandemic on the ongoing monetary policy is separately considered.

Keywords: monetary policy, central banks, mainstream economic theory.

JEL: E580, E520

EDN: TPGYNJ

DOI: https://doi.org/10.52180/2073-6487_ 2024_2_49_70

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Manuscript submission date: 27.02.2024

For citation:

Belyaev V.A. Resolved and unresolved problems of monetary policy: an attempt to systematize // Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2024. №. 2 Pp. 49-70. (In Russ.). https://doi.org/10.52180/2073-6487_2024_2_49_70 EDN: TPGYNJ

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