The Federal Reserve Board eagle logo links to home page
Finance and Economics Discussion Series
Finance and Economics Discussion Series logo links to FEDS home page Will Monetary Policy Become More of a Science?
Frederic S. Mishkin

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: Central banking, monetary policy

Full paper (190 KB PDF) | Full Paper (Screen Reader Version)

Home | FEDS | List of 2007 FEDS papers | Accessibility
To comment on this site, please fill out our feedback form.
Last update: September 21, 2007