The study shows that when the Armenian economy experiences changes in monetary policy, the effects on inflation and output are not the same. Contractionary policies have a smaller impact on decreasing inflation compared to the increase caused by expansionary policies. On the other hand, output reacts oppositely, decreasing more with contractionary policies and increasing with expansionary ones. The researchers used econometric models to analyze these effects and found that the asymmetry is mainly due to the structure of the Armenian economy, with factors like sticky wages and investment adjustment costs playing a role.