The article investigates a question of the influence of monetary policy on the level of unemployment in nine EU countries and compares the results with a situation in Ukraine. The problem of effective ECB monetary policy is very important during crisis times. Unemployment is the factor that is under jurisdiction of ECB since 2011 using inflation targeting. The main instrument we use for defining the influence of ECB policy is the OLS method. The time period from 2000 till 2015 is considered. Our findings show that the influence of inflation on unemployment in all countries apart from Austria is terribly low. Other factors, such as labor productivity and foreign direct investments inflow have a greater influence on unemployment.

 Наукова періодика України 

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