Journal of Economic Literature
Vol. XXXVII (December 1999), pp. 1661–1707
Clarida, Galí, Gertler: The Science of Monetary Policy
The Science of Monetary Policy:
A New Keynesian Perspective
Richard Clarida, Jordi Galí, and Mark Gertler1
“Having looked at monetary policy from both sides now, I can testify that
central banking in practice is as much art as science. Nonetheless, while
practicing this dark art, I have always found the science quite useful.”2
Alan S. Blinder
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