A literature survey over the transmission of the monetary policy and its shocks
A literature survey over the transmission of the monetary policy and its shocks

Summary/Abstract: This paper aims to conduct a survey over the literature related to the transmission mechanism of monetary policy and the monetary policy shocks, as well as to update the state of knowledge of the aforementioned subjects in the academic literature. The first part of the paper focuses on identifying the main models used to analyze the process of monetary policy transmission, while the second part focuses on the models used in order to analyze the transmission of the monetary policy shocks. At first, the paper is highlighting the main models used worldwide, then it continues with a literature analysis regarding the Central and East European countries and it ends with the main models used for the Romanian economy.

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