Will monetary policy become more of a science?
By: Frederic S. Mishkin
Contributors: National Bureau of Economic Research
Series: NBER working paper series -- working paper 13566; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 13566.
Publisher: National Bureau of Economic Research
Published: 2007
Place of publication: Cambridge, MA
Language: eng
Format: [electronic resource] /
Description: "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: in other words, substantial judgment will always be needed to achieve desirable outcomes on both the inflation and employment fronts.  However, as case studies discussed here suggest, even through art will always be a key element in the conduct of monetary policy, the more it is informed by good science, the more successful monetary policy will be"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 11/15/2007.

Includes bibliographical references.

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Mode of access: World Wide Web.