The subject of this specialist postgraduate thesis is the analysis of the transmission of monetary measures of the Croatian National Bank through the asset (stock and real estate) price channel. Specifically, the impact of the average interest rate on the money market, the nominal effective exchange rate, CROBEX and the residential real estate price index on the economy were observed and approximated in two ways: GDP and the consumer price index. Four VEC models were estimated: models of the transmission of stock price channels to GDP and to the consumer price index, and models of the transmission of real estate price channels to GDP and to the consumer price index. The analysis was conducted on the basis of quarterly data for the period from January 2002 to June 2019. The Johansen procedure was used to prove the existence of cointegration vectors from which a long-term relationship between economic activity and selected monetary variables can be observed. In accordance with previous research, the most significant long-term impact on the real economy is the exchange rate, while compared to previous research, the strengthening of interest rate channels in the monetary transmission mechanism in Croatia is visible. The long-term stock price channel proved to be statistically significant, while the long-term impact of the real estate price channel proved to be statistically significant in the model with gross domestic product, but not in the model with inflation.