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Journal of Economic Perspectives: Vol. 11 No. 2 (Spring 1997)

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Distinguished Lecture on Economics in Government: What Central Bankers Could Learn from Academics--And Vice Versa

Article Citation

Blinder, Alan S. 1997. "Distinguished Lecture on Economics in Government: What Central Bankers Could Learn from Academics--And Vice Versa." Journal of Economic Perspectives, 11(2): 3-19.

DOI: 10.1257/jep.11.2.3

Abstract

Academic writing about monetary policy has been useful to practical central bankers, but more of (certain aspects of) the economists' way of thinking could profitably be imported. On the other hand, academics could improve their analysis, and make it more useful to policymakers, if they would pay more attention to certain 'real-world' aspects of monetary policy. The author draws on his experience at the Federal Reserve Board to point out a number of specific lessons for each side.

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Authors

Blinder, Alan S. (Princeton U)

JEL Classifications

E58: Central Banks and Their Policies
A12: Relation of Economics to Other Disciplines
M21: Business Economics

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