I. INTRODUCTIONMonetary policy is the way in which the central bank influences the path it wants the economy to follow. It does this by controlling the money supply using the short-term interest rate as the main instrument to control inflation and economic growth. The goals of most central banks are to maintain low unemployment and relatively stable prices, but price stability is the primary, means, and longer-term goal of monetary policy. An expansionary monetary policy aims to increase the money supply by lowering interest rates in the hope of increasing consumption and investment through easing credit; it is used to combat unemployment during recessions. Contractionary policy, however, is used to decrease the money supply by increasing the interest rate; it aims to slow inflation. Monetary policy has been the subject of much economic research in several countries, with emphasis on the empirical analysis of monetary policy shocks to production and prices. Econometric models have been used to determine the effects of different policy options. Over time, econometric analysis techniques have improved and the most recent literature has estimated the effects of monetary policy using VAR and SVAR techniques, which has made it possible to assess the effectiveness of the policy monetary in several countries. by developments beyond the central bank. Studies on monetary policy have shown wide variation in outcomes between different countries, mainly resulting from different economic cycles experienced at different times between countries; production and prices appear strong or weak depending on the sampling periods. The objective of this study is to examine the middle of the article......, Economic Studies Program, The Brookings Institution, vol. 27(2), pp. 1-7812. Lawrence J. Christiano & Martin Eichenbaum & Charles Evans, 1994. “The Effects of Monetary Policy Shocks: Evidence from the Flow of Funds,” Working Paper Series, Macroeconomic Issues 94-2 , Federal Reserve Bank of Chicago13. Lucas, Robert Jr, 1976. “Econometric Policy Evaluation: A Critique,” ​​Carnegie-Rochester Public Policy Conference Series, Elsevier, vol. 1(1), pages 19-46, January 14. Mishkin, Frederic S. 2009. “Is Monetary Policy Effective During Financial Crises?” American Economic Review, 99(2): 573-77.15. Zha, Tao, “Assessing the Effects of Monetary Policy with Economic Policy”, Federal Reserve Bank of Atlanta, 1998. 16. Wu C. Jing and Xia D Fan, 2013, “Measuring the Macroeconomic Impact of Monetary Policy with the zero lower limit”, Federal Reserve Bank of San Francisco