The aim of this paper is to explore the economic circumstances in which the selective credit policy, the least used instrument of four types of instruments on disposal to central banks, should be used and to analyze the possibility to implement such policy in Croatia. The most significant...

The paper studies the functioning of the monetary transmission mechanism in the EU. It analyses the influence of an increase in short-term interest rate on real and monetary variable e.g. industrial production of the EU members, retail prices, monetary mass and real exchange rate. Frequently...