At the same time, however, this does not mean that central banks are allowed to ignore the distributional effects of monetary policy, especially if the distributional effects have an aggregate impact. With this aim, central banks should be, and in fact are, open to learning about heterogeneous agent macroeconomics. These days, much progress has been made on this front in computational economics.
Central banks are keenly following the technical progress and will keep abreast with the pioneers on this front as well.​  III. The Way Ahead We are now about to start the 23rd BOJ-IMES Conference, which has a history of more than a quarter-century.