RESTRICTIONS ON THE RATE OF INTEREST ON DEMAND DEPOSITS AND A THEORY OF COMPENSATING BALANCES

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  • David Wiley Mullins Jr.

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    • Graduate School of Business Administration, Harvard University. I would like to thank Myron S. Scholes, Robert C. Merton, Franco Modigliani, Stewart C. Myers, Donald R. Lesard, and Richard B. Homonoff for their help on my dissertation which provided much of the basis for this paper. This research was financed in part by the Associates of the Harvard Business School.

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