Look again at the Making the Connection St. Louis and Kansas City? What Explains the Locations of

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Look again at the Making the Connection “St. Louis and Kansas City? What Explains the Locations of the District Banks?” on page 433 in Section 13.1. Are Michael McAvoy’s and David Wheelock’s explanations of how the Federal Reserve Bank cities were selected more consistent with a public interest view of how the decision was made or a principal–agent view? Briefly explain.

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Money, Banking, and the Financial System

ISBN: 978-0134524061

3rd edition

Authors: R. Glenn Hubbard, Anthony Patrick O'Brien

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