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A Duopoly Theory of Government Money Production: The 1930s and 1940s: A Comment

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  • Maria Socorro H. Gochoco
  • Raburn M. Williams

Abstract

This study suggests that the bureaucratic perspective provide a framework compared with the public interest perspective from which to interpret the behavior of the FED and the Treasury in the 1930s and 1940s. It also applies some basic tenets of monetary theory to refute the assertions of some regarding the conduct of monetary policy in that period.

Suggested Citation

  • Maria Socorro H. Gochoco & Raburn M. Williams, 1990. "A Duopoly Theory of Government Money Production: The 1930s and 1940s: A Comment," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 27(2), pages 171-176, December.
    • Handle: RePEc:phs:prejrn:v:27:y:1990:i:2:p:171-176
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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/270/749
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