THE ROLE OF INTEREST RATES IN A CHANGING WORLD

Authors

  • Henry C. Murphy

    1. International Monetary Fund
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    • The author is a member of the Staff of the International Monetary Fund. The opinions expressed in this paper, however, are his own and do not necessarily reflect those of the Fund.


  • This article by Henry Murphy and the following article by Lester V. Chandler, with discussion by Howard R. Bowen, were presented at a joint meeting of the American Finance Association and the Amercian Economic Association in Chicago on December 29, 1950. The general subject discussed at the session was “Reappraisal of the Easy Money Policy.” The program was under the chairmanship of Fritz Machlup, The Johns Hopkins University.

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