To further this effort, the Bank of Italy, together with the CEPR, is organising a conference on “Monetary policy after the crisis” next June in Rome. The conference is intended to stimulate discussion on how our conventional wisdom on the transmission mechanism should be revised, in order, for one thing, to take heterogeneity into account.
For monetary policy makers, on the other hand, the main task is to keep from getting carried away by superficial debates before that information becomes available. It is hard to deny that right now, ideology counts for more than objective science in the debate.