Distinguished Lecture on Economics in Government: What Central Bankers Could Learn from Academics—and Vice Versa
基于作者在美联储的经验，指出学术界和央行官员可以相互学习的若干具体教训，帮助双方改进分析和政策实践。
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.