Abstract
The article represents the second half of a lecture entitled “International Co-operation and Harmonisation in Central Banking”, delivered in March 1961 at the Bologna Centre of the School of Advanced International Studies of the John Hopkins University. The author first looks at certain characteristic features of co-operation between central banks today that are reminiscent of the twenties, before further considering monetary co-operation in the twenties. The harmonization of discount rates is then examined as well as movements of short-term money and the discount rate
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