Abstract:
This paper is the introductory chapter in my book, Monetary Policy Strategy, forthcoming from MIT Press. I thank my editor Elizabeth Murry for her extremely helpful comments. Any views expressed in this paper are those of the author only and not those of Columbia University or the National Bureau of Economic Research. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.
Published in NATIONAL BUREAU OF ECONOMIC RESEARCH Working Paper 12515 http://www.nber.org/papers/w12515, Serbian translation published in Panoeconomicus, December 2006, pages 359-388