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Will monetary policy become more of a science? Author info | Abstract | Publisher info | Download info | Related research | Statistics Frederic S. Mishkin
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This paper reviews the progress that the science of monetary policy has made over recent decades. This progress has significantly expanded the degree to which the practice of monetary policy reflects the application of a core set of "scientific" principles. However, there remains, and will likely always remain, elements of art in the conduct of monetary policy.
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Paper provided by Board of Governors of the Federal Reserve System (U.S.) in its series Finance and Economics Discussion Series with number
2007-44.
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Date of creation: 2007Date of revision:
Handle: RePEc:fip:fedgfe:2007-44Contact details of provider: Postal: 20th Street and Constitution Avenue, NW, Washington, DC 20551 Web page: http://www.federalreserve.gov/ More information through EDIRC
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Keywords: Monetary policy ; Banks and banking ; Central ; Other versions of this item:
This paper has been announced in the following NEP Reports :
Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)Maria Demertzis & Massimiliano Marcellino & Nicola Viegi, 2008.
"A Measure for Credibility: Tracking US Monetary Developments ,"
Economics Working Papers
ECO2008/38, European University Institute.
[Downloadable!]
Other versions:
Demertzis, Maria & Marcellino, Massimiliano & Viegi, Nicola, 2008.
"A Measure for Credibility: Tracking US Monetary Developments ,"
CEPR Discussion Papers
7036, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Maria Demertzis & Massimiliano Marcellino & Nicola Viegi, 2008.
"A Measure for Credibility: Tracking US Monetary Developments ,"
DNB Working Papers
187, Netherlands Central Bank, Research Department.
[Downloadable!] Daniel Leigh, 2008.
"Achieving a Soft Landing: The Role of Fiscal Policy ,"
IMF Working Papers
08/69, International Monetary Fund.
[Downloadable!]
Edward Nelson & Anna J. Schwartz, 2008.
"The impact of Milton Friedman on modern monetary economics: setting the record straight on Paul Krugman’s 'Who Was Milton Friedman? ,"
Working Papers
2007-048, Federal Reserve Bank of St. Louis.
[Downloadable!]
Other versions:
Edward Nelson & Anna J. Schwartz, 2007.
"The Impact of Milton Friedman on Modern Monetary Economics: Setting the Record Straight on Paul Krugman's "Who Was Milton Friedman?" ,"
NBER Working Papers
13546, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Nelson, Edward & Schwartz, Anna J., 2008.
"The impact of Milton Friedman on modern monetary economics: Setting the record straight on Paul Krugman's "Who was Milton Friedman?" ,"
Journal of Monetary Economics ,
Elsevier, vol. 55(4), pages 835-856, May.
[Downloadable!] (restricted)
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