Money, Credit and Banking; Monetary Policy; Consumer Finance; Mortgage Credit.

The article presents some abstracts of published materials concerning money, credit and banking and monetary policy. The paper entitled "The Role of Monetary Policy," by M. Friedman presents a professional opinion on the role of monetary policy which has fluctuated widely from great confidence in the potency of monetary policy in the 1920s to widespread belief that monetary policy is of negligible importance, to a revival of belief in the potency of monetary policy. The abstract entitled "Competition and Efficiency in the Banking System: Empirical Research and Its Policy Implications," by S.I. Greenbaum discusses recent bank cost studies with a view toward assessing their potential importance as well as their achievements. The paper concludes with a discussion of selected topics of banking structure research outside the area of cost analysis. The paper entitled "Risk Aversion, Financial Intermediation, and the Term Structure of Interest Rates," by H.I. Grossman investigates theoretically the determination of the equilibrium difference between expected holding period yields on government debts of different maturities.