Política monetária e oferta de dinheiro no Uruguay (1931 a 1959): novos contextos e novos instrumentos

this paper analyses the main characteristics of the monetary policy in the period 1931-1959 and its changes related to the national and international context. two were the most important transformations. on one hand the increasing role of the republic bank of uruguay in the conduction of the monetary and exchange-rate policy. on the other hand, there were important changes in the monetary regime evolving to a more flexible system as the gold standard was abandoned. in addition, we describe the evolution of the monetary supply, the link with the economic activity and a first approximation to the relation between money and prices.