; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Optimal Monetary Policy: What We Know and What We Don’t Know"; ; "jannelle.ruswick@mpls.frb.org"; "Kocherlakota, Narayana Rao, 1963-"; "Federal Reserve Bank of Minneapolis"; "In this article, I examine the current state of knowledge about optimal monetary policy. I distinguish between two literatures, basic and applied. The basic literature is explicit about the frictions that generate a positive value for money and make it socially beneficial. The applied literature is not. I describe the recent lessons about monetary policy that we have learned from each literature and discuss how the two distinct approaches may be usefully combined."^^; "2005-10"; "2019-12-13T20:19:41.026168586+00:00"^^; "https://doi.org/10.21034/qr.2912"; ; "Mon Dec 16 17:38:20 2019"; "Article"; "410"; "Quarterly review (Federal Reserve Bank of Minneapolis. Research Department)"; "Vol. 29, No. 1"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; "Reprinted, with permission, from the International Economic Review (May 2005, vol. 46, no. 2, pp. 715–29): “Optimal Monetary Policy: What We Know and What We Don’t Know” by Narayana R. Kocherlakota. © 2005 by Blackwell Publishing. https://doi.org/10.1111/j.1468-2354.2005.00343.x"^^; ; "Publication" . ; .