Will monetary policy become more of a science?

Frederic Mishkin ()

No 2007-44, Finance and Economics Discussion Series from Board of Governors of the Federal Reserve System (U.S.)

Abstract: 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.

Keywords: Monetary policy; Banks and banking, Central (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-hpe, nep-mac and nep-mon
Date: 2007
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Working Paper: Will Monetary Policy Become More of a Science? (2007)
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