NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Working Papers by Michael D. Bordo

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Working Papers

July 2014Tales from the Bretton Woods
w20270
June 2014The Real Exchange Rate in the Long Run: Balassa-Samuelson Effects Reconsidered
with Michael D. Bordo, Ehsan U. Choudhri, Giorgio Fazio, Ronald MacDonald: w20228
October 2013What Explains House Price Booms?: History and Empirical Evidence.
with Michael D. Bordo, John Landon-Lane: w19584
Does Expansionary Monetary Policy Cause Asset Price Booms; Some Historical and Empirical Evidence
with Michael D. Bordo, John Landon-Lane: w19585

Published: Michael D. Bordo & John Landon-Lane, 2013. "Does expansionary monetary policy cause asset price booms? some historical and empirical evidence," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 16(2), pages 04-52, August. citation courtesy of

June 2013The European Crisis in the Context of the History of Previous Financial Crises
with Michael D. Bordo, Harold James: w19112
May 2013Putting the ‘System’ in the International Monetary System
with Michael D. Bordo, Angela Redish: w19026
February 2013Not Just the Great Contraction: Friedman and Schwartz’s A Monetary History of the United States 1867 to 1960
with Michael D. Bordo, Hugh Rockoff: w18828

Published: Michael D. Bordo & Hugh Rockoff, 2013. "Not Just the Great Contraction: Friedman and Schwartz's A Monetary History of the United States 1867 to 1960," American Economic Review, American Economic Association, vol. 103(3), pages 61-65, May. citation courtesy of

June 2012Deep Recessions, Fast Recoveries, and Financial Crises: Evidence from the American Record
with Michael D. Bordo, Joseph G. Haubrich: w18194
April 2012Epilogue: Foreign-Exchange-Market Operations in the Twenty-First Century
with Michael D. Bordo, Owen Humpage, Anna J. Schwartz: w17984
March 2012Does Inequality Lead to a Financial Crisis?
with Michael D. Bordo, Christopher M. Meissner: w17896

Published: Bordo, Michael D. & Meissner, Christopher M., 2012. "Does inequality lead to a financial crisis?," Journal of International Money and Finance, Elsevier, vol. 31(8), pages 2147-2161. citation courtesy of

October 2011Reserves and Baskets
with Michael D. Bordo, Harold James: w17492

Published: Michael Bordo & Harold James, 2012. "Reserves and Baskets," Open Economies Review, Springer, vol. 23(1), pages 113-127, February. citation courtesy of

September 2011The Federal Reserve as an Informed Foreign Exchange Trader: 1973 – 1995
with Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz: w17425

Published: Michael D. Bordo & Owen F. Humpage & Anna J. Schwartz, 2012. "The Federal Reserve as an Informed Foreign Exchange Trader: 1973–1995," International Journal of Central Banking, International Journal of Central Banking, vol. 8(1), pages 127-160, March. citation courtesy of

A Fiscal Union for the Euro: Some Lessons from History
with Michael D. Bordo, Agnieszka Markiewicz, Lars Jonung: w17380
August 2011Why didn’t Canada have a banking crisis in 2008 (or in 1930, or 1907, or ...)?
with Michael D. Bordo, Angela Redish, Hugh Rockoff: w17312
The Influence of Irving Fisher on Milton Friedman’s Monetary Economics
with Michael D. Bordo, Hugh Rockoff: w17267

Published: Bordo, Michael D. & Rockoff, Hugh, 2013. "The Influence Of Irving Fisher On Milton Friedman’S Monetary Economics," Journal of the History of Economic Thought, Cambridge University Press, vol. 35(02), pages 153-177, June. citation courtesy of

May 2011Historical Evidence on the Finance-Trade-Growth Nexus
with Michael D. Bordo, Peter L. Rousseau: w17024

Published: Bordo, Michael D. & Rousseau, Peter L., 2012. "Historical evidence on the finance-trade-growth nexus," Journal of Banking & Finance, Elsevier, vol. 36(4), pages 1236-1243. citation courtesy of

April 2011U.S. Intervention During the Bretton Woods Era: 1962-1973
with Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz: w16946
February 2011The Promise and Performance of the Federal Reserve as Lender of Last Resort 1914-1933
with Michael D. Bordo, David C. Wheelock: w16763

Published: “ The Promise and Performance of the Federal Reserve as Lender of Last Resort 1914 - 1933 ” with Michael D. Bordo, in The Origins, History, and Future of the Federal Reserve: A Return to Jekyll Island , edited by Michael D. Bordo and William Roberds , Cambridge University Press , 2013, pp 59 - 98 .

December 2010U.S. Foreign-Exchange-Market Intervention and the Early Dollar Float: 1973 – 1981
with Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz: w16647
The Global Financial Crisis of 2007-08: Is it Unprecedented?
with Michael D. Bordo, John S. Landon-Lane: w16589
September 2010The Lessons from the Banking Panics in the United States in the 1930s for the Financial Crisis of 2007-2008
with Michael D. Bordo, John Landon-Lane: w16365
U.S. Foreign-Exchange-Market Intervention during the Volcker-Greenspan Era
with Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz: w16345
June 2010International Business Cycle Synchronization in Historical Perspective
with Michael D. Bordo, Thomas F. Helbling: w16103

Published: Michael D. Bordo & Thomas F. Helbling, 2011. "International Business Cycle Synchronization In Historical Perspective," Manchester School, University of Manchester, vol. 79(2), pages 208-238, 03. citation courtesy of

May 2010Global shocks, economic growth and financial crises: 120 years of New Zealand experience
with Michael D. Bordo, David Hargreaves, Mizuho Kida: w16027

Published: Bordo, Michael & Hargreaves, David & Kida, Mizuho, 2011. "Global shocks, economic growth and financial crises: 120 years of New Zealand experience," Financial History Review, Cambridge University Press, vol. 18(03), pages 331-355, December. citation courtesy of

February 2010Exits from Recessions: The U.S. Experience 1920-2007
with Michael D. Bordo, John Landon-Lane: w15731
December 2009The Great Depression Analogy
with Michael D. Bordo, Harold James: w15584

Published: Bordo, Michael & James, Harold, 2010. "The Great Depression analogy," Financial History Review, Cambridge University Press, vol. 17(02), pages 127-140, October. citation courtesy of

November 2009Foreign Currency Debt, Financial Crises and Economic Growth: A Long Run View
with Michael D. Bordo, Christopher M. Meissner, David Stuckler: w15534

Published: Bordo, Michael D. & Meissner, Christopher M. & Stuckler, David, 2010. "Foreign currency debt, financial crises and economic growth: A long-run view," Journal of International Money and Finance, Elsevier, vol. 29(4), pages 642-665, June. citation courtesy of

September 2009Credit Crises, Money and Contractions: an historical view
with Michael D. Bordo, Joseph G. Haubrich: w15389

Published: Bordo, Michael D. & Haubrich, Joseph G., 2010. "Credit crises, money and contractions: An historical view," Journal of Monetary Economics, Elsevier, vol. 57(1), pages 1-18, January. citation courtesy of

January 2009Sterling in crisis: 1964-1967
with Michael D. Bordo, Ronald MacDonald, Michael J. Oliver: w14657

Published: Bordo, Michael D. & Macdonald, Ronald & Oliver, Michael J., 2009. "Sterling in crisis, 1964?1967," European Review of Economic History, Cambridge University Press, vol. 13(03), pages 437-459, December. citation courtesy of

December 2008An Historical Perspective on the Crisis of 2007-2008
w14569
Bretton Woods and the Great Inflation
with Michael D. Bordo, Barry Eichengreen: w14532

Published: Bretton Woods and the Great Inflation, Michael Bordo, Barry Eichengreen. in The Great Inflation: The Rebirth of Modern Central Banking, Bordo and Orphanides. 2013

May 2008Inflation, Monetary Policy and Stock Market Conditions
with Michael D. Bordo, Michael J. Dueker, David C. Wheelock: w14019
February 2008A Long Term Perspective on the Euro
with Michael D. Bordo, Harold James: w13815
November 2007Canada's Pioneering Experience with a Flexible Exchange Rate in the 1950s:(Hard) Lessons Learned for Monetary Policy in a Small Open Economy
with Michael D. Bordo, Ali Dib, Lawrence Schembri: w13605

Published: Michael Bordo & Ali Dib & Lawrence Schembri, 2010. "Canada's Pioneering Experience with a Flexible Exchange Rate in the 1950s: (Hard) Lessons Learned for Monetary Policy in a Small Open Economy," International Journal of Central Banking, International Journal of Central Banking, vol. 6(3), pages 51-99, September. citation courtesy of

Foreign Capital and Economic Growth in the First Era of Globalization
with Michael D. Bordo, Christopher M. Meissner: w13577

Published: Michael Bordo and Christopher Meissner. “Foreign Cap ital, Financial Crises and Income in the first Era of Globalization” European Review of Economic History October 2010

October 2007Sudden Stops: Determinants and Output Effects in the First Era of Globalization, 1880-1913
with Michael D. Bordo, Alberto F. Cavallo, Christopher M. Meissner: w13489

Published: Bordo, Michael D. & Cavallo, Alberto F. & Meissner, Christopher M., 2010. "Sudden stops: Determinants and output effects in the first era of globalization, 1880-1913," Journal of Development Economics, Elsevier, vol. 91(2), pages 227-241, March. citation courtesy of

March 2007Three Great American Disinflations
with Michael D. Bordo, Christopher Erceg, Andrew Levin: w12982

Published: Michael Bordo & Christopher Erceg & Andrew Levin & Ryan Michaels, 2007. "Three great American disinflations," Proceedings, Federal Reserve Bank of San Francisco. citation courtesy of

Growing Up to Financial Stability
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Published: Bordo, Michael D., 2008. "Growing up to Financial Stability," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 2(12), pages 1-17. citation courtesy of

November 2006The Historical Origins of U.S. Exchange Market Intervention Policy
with Michael D. Bordo, Owen Humpage, Anna J. Schwartz: w12662

Published: Michael D. Bordo & Owen Humpage & Anna J. Schwartz, 2007. "The historical origins of US exchange market intervention policy," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 12(2), pages 109-132. citation courtesy of

October 2006David Laidler on Monetarism
with Michael Bordo, Anna J. Schwartz: w12593

Published: Leeson, Robert (ed.) David Laidler’s Contribution to Macroeconomics. Palgrave McMillan, 2010.

August 2006Swiss Exchange Rate Policy in the 1930s. Was the Delay in Devaluation Too High a Price to Pay for Conservatism?
with Michael Bordo, Thomas Helbling, Harold James: w12491

Published: Michael Bordo & Thomas Helbling & Harold James, 2007. "Swiss Exchange Rate Policy in the 1930s. Was the Delay in Devaluation Too High a Price to Pay for Conservatism?," Open Economies Review, Springer, vol. 18(1), pages 1-25, February. citation courtesy of

July 2006Sudden Stops, Financial Crises, and Original Sin in Emerging Countries: Déjà vu?
w12393
June 2006Currency Mismatches, Default Risk, and Exchange Rate Depreciation: Evidence from the End of Bimetallism
with Michael D. Bordo, Christopher M. Meissner, Marc D. Weidenmier: w12299
May 2006One World Money, Then and Now
with Michael Bordo, Harold James: w12189

Published: Bordo, Michael and Harold James. "One World Money, Then and Now." International Economics and Economic Policy 3, 3-4 (December 2006): 395-407. citation courtesy of

February 2006Legal-Political Factors and the Historical Evolution of the Finance-Growth Link
with Michael D. Bordo, Peter L. Rousseau: w12035

Published: Bordo, Michael D. and Peter L. Rousseau. "Legal-Political Factors and the Historical Evolution of the Finance-Growth Link." European Review of Economic History 10, 3 (December 2006): 421 - 444. citation courtesy of

December 2005The Role of Foreign Currency Debt in Financial Crises: 1880-1913 vs. 1972-1997
with Michael D. Bordo, Christopher M. Meissner: w11897

Published: Bordo, Michael D. & Meissner, Christopher M., 2006. "The role of foreign currency debt in financial crises: 1880-1913 versus 1972-1997," Journal of Banking & Finance, Elsevier, vol. 30(12), pages 3299-3329, December.

October 2005Review of A History of the Federal Reserve. Volume 1 (2003) by Allan H. Meltzer
w11714

Published: Bordo, Michael D., 2006. "Review of A History of the Federal Reserve. Volume I (2003) by Allan H. Meltzer," Journal of Monetary Economics, Elsevier, vol. 53(3), pages 633-657, April. citation courtesy of

August 2005Seventy Years of Central Banking: The Bank of Canada in International Context, 1935-2005
with Michael D. Bordo, Angela Redish: w11586
May 2005Historical Perspective on Global Imbalances
w11383
March 2005Financial Crises, 1880-1913: The Role of Foreign Currency Debt
with Michael Bordo, Christopher Meissner: w11173

Published: Michael D. Bordo & Christopher M. Meissner, 2007. "Financial Crises, 1880–1913: The Role of Foreign Currency Debt," NBER Chapters, in: The Decline of Latin American Economies: Growth, Institutions, and Crises, pages 139-194 National Bureau of Economic Research, Inc.

October 2004Deflation and Monetary Policy in a Historical Perspective: Remembering the Past or Being Condemned to Repeat It?
with Michael D. Bordo, Andrew Filardo: w10833

Published: Bordo, Michael and Andrew Filardo. "Deflation And Monetary Policy In A Historical Perspective: Remembering The Past Or Being Condemned To Repeat It?," Economic Policy, 2005, v20(44,Oct), 799-844. citation courtesy of

Keeping Capital Flowing: The Role of the IMF
with Michael D. Bordo, Ashoka Mody, Nienke Oomes: w10834

Published: Michael D. Bordo & Ashoka Mody & Nienke Oomes, 2004. "Keeping Capital Flowing: The Role of the IMF," International Finance, Blackwell Publishing, vol. 7(3), pages 421-450, December. citation courtesy of

August 2004Monetary Policy and Asset Prices: A Look Back at Past U.S. Stock Market Booms
with Michael D. Bordo, David C. Wheelock: w10704

Published: Bordo, Michael D. and David C. Wheelock. "Monetary Policy And Asset Prices: A Look Back At Past U.S. Stock Market Booms," FRB St. Louis - Economic Review, 2004, v86(6,Nov/Dec), 19-44. citation courtesy of

April 2004The Yield Curve, Recessions and the Credibility of the Monetary Regime: Long Run Evidence 1875-1997
with Michael D. Bordo, Joseph G Haubrich: w10431
February 2004Good versus Bad Deflation: Lessons from the Gold Standard Era
with Michael D. Bordo, John Landon Lane, Angela Redish: w10329
December 2003Gold, Fiat Money, and Price Stability
with Michael D. Bordo, Robert D. Dittmar, William T. Gavin: w10171

Published: Bordo, Michael D., Robert D. Dittmar, and William T. Gavin. "Gold, Fiat Money, and Price Stability." B.E. Journal of Macroeconomics: Topics in Macroeconomics 7, 1 (2007). citation courtesy of

Have National Business Cycles Become More Synchronized?
with Michael D. Bordo, Thomas Helbling: w10130
July 2003Why didn't France follow the British Stabilization after World War One?
with Michael D. Bordo, Pierre-Cyrille Hautcoeur: w9860
How "Original Sin" was Overcome: The Evolution of External Debt Denominated in Domestic Currencies in the United States and the British Dominions
with Michael D. Bordo, Christopher Meissner, Angela Redish: w9841

Published: Eichengreen, Barry and Ricardo Haussmann (eds.) Other People’s Money. Chicago: University of Chicago Press, 2004.

May 2003IS-LM and Monetarism
with Michael D. Bordo, Anna J. Schwartz: w9713

Published: Bordo, Michael D. and Anna J. Schwartz. "IS-LM And Monetarism," History of Political Economy, 2004, v36(4,Winter), 217-239. citation courtesy of

April 2003Exchange Rate Regime Choice in Historical Perspective
w9654
March 2003Is Deflation depressing? Evidence from the Classical Gold Standard
with Michael D. Bordo, Angela Redish: w9520

Published: Burdekin, Richard C. K. and Pierre L. Siklos (eds.) Deflation: Current and Historical Perspectives. New York: Cambridge University Press, 2004.

June 2002Globalization and Changing Patterns in the International Transmission of Shocks in Financial Markets
with Michael D. Bordo, Antu Panini Murshid: w9019

Published: Bordo, Michael D. and Antu Panini Murshid. "Globalization And Changing Patterns In The International Transmission Of Shocks In Financial Markets," Journal of International Money and Finance, 2006, v25(4,Jun), 655-674. citation courtesy of

May 2002Boom-Busts in Asset Prices, Economic Instability, and Monetary Policy
with Michael D. Bordo, Olivier Jeanne: w8966

Published: Bordo, M. C. and O. Jeanne. "Monetary Policy And Asset Prices: Does 'Benign Neglect' Make Sense?," International Finance, 2002, v5(2,Summer), 139-164.

January 2002Crises Now and Then: What Lessons from the Last Era of Financial Globalization
with Barry Eichengreen, Michael D. Bordo: w8716

Published: Mizen, Paul (ed.) Monetary History, Exchange Rates and Financial Markets: Essays in Honor of Charles Goodhart, Vol 2. London: Edward Elgar Publisher, 2003.

Charles Goodhart's Contributions to the History of Monetary Institutions
with Michael D. Bordo, Anna J. Schwartz: w8717

Published: Mizen, Paul (ed.) Essays in honour of Charles Goodhart. Volume 2. Monetary history, exchange rates and financial markets. Cheltenham, U.K. and Northampton, MA: Elgar, 2003.

November 2001Bond Market Inflation Expectations in Industrial Countries: Historical Comparisons
with Michael D. Bordo, William G. Dewald: w8582
Aggregate Price Shocks and Financial Stability: The United Kingdom 1796-1999
with Michael D. Bordo, Michael J. Dueker, David C. Wheelock: w8583

Published:

  • Bordo, Michael D., Michael J. Dueker and David C. Wheelock. "Aggregate Price Shocks And Financial Instability: A Historical Analysis," Economic Inquiry, Oct. 2002, 40(4): 521-538
  • Bordo, Michael D., Michael J. Dueker and David C. Wheelock. "Aggregate Price Shocks And Financial Stability: the United Kingdom 1796-1999." Explorations in Economic History, April 2003, 40(2): 143-169 citation courtesy of

Core, Periphery, Exchange Rate Regimes, and Globalization
with Michael D. Bordo, Marc Flandreau: w8584

Published: Core, Periphery, Exchange Rate Regimes, and Globalization, Michael D. Bordo, Marc Flandreau. in Globalization in Historical Perspective, Bordo, Taylor, and Williamson. 2003

October 2001The Adam Klug Memorial Lecture: Haberler versus Nurkse: The Case for Floating Exchange Rates as an Alternative to Bretton Woods?
with Michael D. Bordo, Harold James: w8545

Published: Arnon, Arie and Warren L. Young. (eds.) The Open Economy MacroModel: Past, Present, and Future. Boston: Kluwer Academic Publishers, 2002.

August 2001The Inter-War Gold Exchange Standard: Credibility and Monetary Independence
with Michael D. Bordo, Ronald MacDonald: w8429

Published:

  • Bordo, Michael D. and Ronald MacDonald. "Interest Rate Interactions In The Classical Gold Standard, 1880-1914: Was There Any Monetary Independence?," Journal of Monetary Economics, March 2005, v52(2): 307-327
  • Bordo, Michael D. and Ronald MacDonald. "The Inter-war Gold Exchange Standard: Credibility and Monetary Independence." Journal of International Money and Finance, February 2003, 22(1): 1-32 citation courtesy of

January 2001From the Exchange Stabilization Fund to the International Monetary Fund
with Michael Bordo, Anna J. Schwartz: w8100
September 2000Are Financial Crises Becoming Increasingly More Contagious? What is the Historical Evidence on Contagion?
with Michael D. Bordo, Antu P. Murshid: w7900

Published: Claessens, Stijn and Kristin I. Forbes (eds.) International Financial Contagion. Boston, MA: Kluwer Academic Publishers, 2001.

June 2000The International Monetary Fund: Its Present Role in Historical Perspective
with Michael D. Bordo, Harold James: w7724
May 2000Measuring Real Economic Effects of Bailouts: Historical Perspectives on How Countries in Financial Distress Have Fared With and Without Bailouts
with Michael D. Bordo, Anna J. Schwartz: w7701

Published: Bordo, Michael D. & Schwartz, Anna J., 2000. "Measuring real economic effects of bailouts: historical perspectives on how countries in financial distress have fared with and without bailouts," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 53(1), pages 81-167, December. citation courtesy of

April 2000Aggregate Price Shocks and Financial Instability: An Historical Analysis
with Michael D. Bordo, Michael J. Dueker, David C. Wheelock: h0125
Aggregate Price Shocks and Financial Instability: An Historical Analysis
with Michael D. Bordo, Michael J. Dueker, David C. Wheelock: w7652

Published: Bordo, Michael D., Michael J. Dueker and David C. Wheelock. "Aggregate Price Shocks And Financial Instability: A Historical Analysis," Economic Inquiry, 2002, v40(4,Oct), 521-538. citation courtesy of

September 1999The Future of EMU: What Does the History of Monetary Unions Tell Us?
with Michael D. Bordo, Lars Jonung: w7365

Published: Capie, Forrest and Geoffrey Wood (eds). Monetary Unions. London: MacMillan, 2003.

June 1999Was Adherence to the Gold Standard a "Good Housekeeping Seal of Approval" During the Interwar Period?
with Michael Bordo, Michael Edelstein: w7186

Published: Engerman, Stanley L., Philip T. Hoffman, Jean-Laurent Rosenthal, and Kenneth Sokoloff (eds.) Finance, Intermediaries, and Economic Development. New York: Cambridge University Press, 2003.

Is Globalization Today Really Different than Globalization a Hunderd Years Ago?
with Michael D. Bordo, Barry Eichengreen, Douglas A. Irwin: w7195

Published:

  • Collins, Susan and Robert Lawrence (eds.) Brookings Trade Policy Forum. Washington, DC: Brookings Institution, 1999.
  • Shorter version in Austrian Economic Papers, Vol. 1 & 2 (2000).

May 1999Was Expansionary Monetary Policy Feasible During the Great Contraction? An Examination of the Gold Standard Constraint
with Michael D. Bordo, Ehsan U. Choudhri, Anna J. Schwartz: w7125

Published: Bordo, Michael D. & Choudhri, Ehsan U. & Schwartz, Anna J., 2002. "Was Expansionary Monetary Policy Feasible during the Great Contraction? An Examination of the Gold Standard Constraint," Explorations in Economic History, Elsevier, vol. 39(1), pages 1-28, January. citation courtesy of

December 1998Under What Circumstances, Past and Present, Have International Rescues of Countries in Financial Distress Been Successful?
with Michael D. Bordo, Anna J. Schwartz: w6824

Published: Bordo, Michael D. and Anna J. Schwartz. "Under What Circumstances, Past And Present, Have International Rescues Of Countries In Financial Distress Been Successful?," Journal of International Money and Finance, 1999, v18(4,Aug), 683-708. citation courtesy of

What If Alexander Hamilton Had Been Argentinean? A Comparison of the Early Monetary Experiences of Argentina and the United States
with Michael D. Bordo, Carlos A. Vegh: w6862

Published: Bordo, Michael D. and Carlos A. Vegh. "What If Alexander Hamilton Had Been Argentinean? A Comparison Of The Early Monetary Experiences Of Argentina And The United States," Journal of Monetary Economics, 2002, v49(3,Apr), 459-494. citation courtesy of

September 1998Was There Really an Earlier Period of International Financial Integration Comparable to Today?
with Michael D. Bordo, Barry Eichengreen, Jongwoo Kim: w6738

Published: The Implications of the Globalization of World Financial Markets, Seoul: Bank of Korea (1999).

March 1998The Rise and Fall of a Barbarous Relic: The Role of Gold in the International Monetary SYstem
with Michael D. Bordo, Barry Eichengreen: w6436

Published: Published as "Is There a Good Case for a New Bretton Woods International Monetary System?", American Economic Review, Vol. 85, no. 2 (1995): 317-322 .

September 1997Monetary Policy Regimes and Economic Performance: The Historical Record
with Michael D. Bordo, Anna J. Schwartz: w6201

Published: Handbook of Macroeconomics, John Taylor and Michael Woodford (eds.), vol. 1 A, pp. 149-234, 1999.

July 1997Violations of the `Rules of the Game' and the Credibility of the Classical Gold Standard, 1880-1914
with Michael D. Bordo, Ronald MacDonald: w6115

Published: Bordo, Michael D. and Ronald MacDonald. "Interest Rate Interactions In The Classical Gold Standard, 1880-1914: Was There Any Monetary Independence?," Journal of Monetary Economics, 2005, v52(2,Mar), 307-327.

June 1997Money, Sticky Wages, and the Great Depression
with Michael D. Bordo, Christopher J. Erceg, Charles N. Evans: w6071

Published: American Economic Review, Vol. 90, no. 5, (December 2000): 1447-1463 citation courtesy of

January 1997Implications of the Great Depression for the Development of the International Monetary System
with Michael D. Bordo, Barry Eichengreen: w5883

Published:

November 1996A Comparison of the Stability and Efficiency of the Canadian and American Banking Systems 1870-1925
with Michael D. Bordo, Angela Redish: h0067

Published:

  • Anglo-American Financial Systems: Institutions and Markets in the Twentieth Century. Irwin One Publishers, 1995.
  • Financial History Review, vol. 3, part 1, pp. 49-68, April 1996.

August 1996Why Clashes Between Internal and External Stability Goals End in Currency Crises, 1797-1994
with Michael D. Bordo, Anna J. Schwartz: w5710

Published: Open Economies Review, Vol. 7 pp. 437-468, December 1996

March 1996Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions
with Michael D. Bordo, Tamim Bayoumi: w5497

Published: Oxford Economic Papers, No. 50, pp. 122-149, January 1998 citation courtesy of

December 1995Real Versus Pseudo-International Systemic Risk: Some Lessons from History
with Michael D. Bordo, Bruce Mizrach, Anna J. Schwartz: w5371

Published: Review of Pacific Basin Financial Markets and Policies, December 1996

November 1995Rules, Discretion, and Central Bank Independence: The German Experience 1880-1989
with Bernhard Eschweiler, Michael D. Bordo: w4547

Published: Pierre Siklos, ed., Varieties of Monetary Reform: Lessons and Experience on the Road to Monetary Union. Boston: Kluwer Academic Publishers, 1994, pp. 279-321.

The Gold Standard as a `Good Housekeeping Seal of Approval'
w5340

Published: Journal of Economic History, vol. 56, no. 2, pp. 389-428, June 1996. citation courtesy of

September 1994The Specie Standard as a Contingent Rule: Some Evidence for Core and Peripheral Countries, 1880-1990
with Michael D. Bordo, Anna J. Schwartz: w4860

Published: Historical Perspectives on the Gold Standard, Barry Eichengreen and Jorge de Macedo, eds. Routledge, 1996. Currency Convertibility: The Gold Standard and Beyond, J. Braga de Macedo, B. Eichengreen, J. Reis, eds., pp. 11-83 (New York: Routledge, 1996).

February 1994France and the Bretton Woods International Monetary System: 1960-1968
with Michael D. Bordo, Dominique Simard, Eugene White: w4642

Published:

  • The History of International Monetary Arrangements, James Reis (ed). Macmillan: London, 1995.
  • International Monetary Systems in Historical Perspective, Jaime Reis, ed., 1995, pp. 153-180.

November 1993A Small Open Economy in Depression: Lessons from Canada in the 1930s
with Caroline M. Betts, Michael D. Bordo, Angela Redish: w4515

Published: Canadian Journal of Economics, vol. XXIX, no. 1, pp. 1-36, February 1996. citation courtesy of

A Comparison of the United States and Canadian Banking Systems in the Twentieth Century: Stability vs. Efficiency?
with Michael D. Bordo, Hugh Rockoff, Angela Redish: w4546

Published:

  • "The U.S. Banking System from a Northern Exposure: Stability vs. Efficiency ." Journal of Economic History, Vol 54 (June 1994): 325-341.
  • R2085 same as wp title: in Anglo-American Financial Systems: Institutions and Markets in the Twentieth Century, Michael D. Bordo and Richard Sylla, eds., pp. 11-40, (Burr Ridge, IL: Irwin Professional Publishing, 1995).

October 1993Could Stable Money Have Averted The Great Contraction?
with Michael D. Bordo, Ehsan U. Choudhri, Anna J. Schwartz: w4481

Published: Economic Inquiry, vol. XXXIII, no. 3, pp. 484-505, (July 1995). citation courtesy of

August 1993Labor Productivity During the Great Depression
with Michael D. Bordo, Charles L. Evans: w4415

Published: Economics Letters, Vol. 47, no. 1 (January 1995): p. 41-45 citation courtesy of

June 1993The Common Development of Institutional Change as Measured by Income Velocity: A Century of Evidence from Industrialized Countries
with Michael D. Bordo, Lars Jonung, Pierre Siklos: w4379

Published: Economic Inquiry, 1996

April 1993The Gold Standard, Bretton Woods and other Monetary Regimes: An Historical Appraisal
w4310

Published: Federal Reserve Bank of St. Louis Review, Vol. 75, No. 2, pp. 123-191,(March/April 1993). citation courtesy of

March 1992Maximizing Seignorage Revenue During Temporary Suspensions of Convertibility: A Note
with Michael Bordo, Angela Redish: w4024

Published: Oxford Economic Papers, , Vol 45., pp. 157-168 (1993) citation courtesy of

The Bretton Woods International Monetary System: An Historical Overview
w4033

Published:

December 1991British and French Finance During the Napoleonic Wars
with Michael D. Bordo, Eugene N. White: w3517

Published: "A Tale of Two Currencies: British and French Finance During the Napoleonic Wars." Journal of Economic History, Vol. 51, No. 2, pp. 303-316, (June 1991).

April 1991Money versus Credit Rationing: Evidence for the National Banking Era, 1880-1914
with Michael D. Bordo, Peter Rappoport, Anna J. Schwartz: w3689

Published:

December 1990What has Foreign Market Intervention Since the Plaza Agreement Accomplished?
with Michael D. Bordo, Anna J. Schwartz: w3562

Published: Open Economies Review, Vol. 2, pp. 39-64, (1991).

May 1990The Gold Standard as a Rule
with Michael D. Bordo, Finn E. Kydland: w3367

Published: Explorations in Economic History, vol. 32, pp. 423-464, (October 1995).

December 1989The Long-Run Behavior of Velocity: The Institutional Approach Revisited
with Michael D. Bordo, Lars Jonung: w3204

Published: Journal of Policy Modeling, Vol. 12, No. 2, pp. 165-197, (Summer 1990). citation courtesy of

June 1989The Lender of Last Resort: Some Historical Insights
w3011

Published:

  • "The Lender of Last Resort: Alternative Views and Historical Experience." Economic Review (Federal Reserve Bank of Richmond), Vol. 76/1, pp. 18-29, (January/February 1990).
  • Michael D. Bordo, 1989. "The lender of last resort: some historical insights," Proceedings, Federal Reserve Bank of Chicago, pages 177-197.

1989Money Stock Targeting, Base Drift and Price-Level Predictability: Lessons From the U.K. Experience
with Michael D. Bordo, Ehsan U. Choudhri, Anna J. Schwartz: w2825

Published: Journal of Monetary Economics, Vol. 25, No. 21, pp. 253-272, (March 1990). citation courtesy of

April 1988The Contribution of a Monetary History of the United States: 1867 to 1960 To Monetary History
w2549

Published:

November 1987Credible Commitment and Exchange Rate Stability: Canada's Interwar Experience
with Michael D. Bordo, Angela Redish: w2431

Published: Canadian Journal of Economics, Vol. 23, No. 2, pp. 357-380, (May 1990). citation courtesy of

August 1987Money Growth Variability and Money Supply Interdependence Under InterestRate Control: Some Evidence For Canada
with Michael D. Bordo, Ehsan U. Choudhri, Anna J. Schwartz: w1480

Published: Bordo, Michael, Ehsan U. Choudhri and Anna J. Schwartz. "The Behavior of Money Stock Under Interest Rate Control: Some Evidence for Canada," Journal of Money, Credit , and Banking, Vol. 19, May 1987, pp. 181-197.

The ECU - An Imaginary or Embryonic Form of Money: What Can We Learn from History?
with Michael D. Bordo, Anna J. Schwartz: w2345

Published: From The ECU and European Monetary Integration, edited by Paul DeGrauwe and Theo Peeters, pp. 1-21. London: Macmillan Press Ltd., 1989.

May 1987The Stochastic Properties of Velocity: A New Interpretation
with Michael D. Bordo, Lars Jonung: w2255

Published: Bordo, Michael D. and Lars Jonung. "The Stochastic Properties of Velocity: Evidence for Five Countries." The Long-run Behavior of the Velocity of Circulation, ed. by Michael Bordo and Lars Jonung, pp. 135-148. New York: Cambridge University Press, 1987.

November 1986The Global Velocity Curve 1952-1982
with Michael D. Bordo, Lars Jonung: w2074

Published: Bordo, Michael D. and Lars Jonung (eds.) The Long-run Behavior of the Velocity of Circulation: The International Evidence. New York: Cambridge University Press, 1987.

Why did the Bank of Canada Emerge in 1935?
with Michael D. Bordo, Angela Redish: w2079

Published: Bordo, Michael D. and Angela Redish. "Why did the Bank of Canada Emerge in 1935?" Journal of Economic History, Vol. XLVII, No. 2, June 1987, pp. 405-4 17. citation courtesy of

1986Explorations in Monetary History: A Survey of the Literature
w1821

Published: Bordo, Michael. "Explorations in Monetary History: A Survey of the Literature," Explorations in Economic History, Vol. 23, No. 4, October 1986. citation courtesy of

April 1985Some Historical Evidence 1870-1933 on the Impact and International Transmission of Financial Crises
w1606

Published: Bordo, Michael D. "The Impact and Internationa Transmission of Financial Crises: Some Historical Evidence, 1870-1933," Revista Di Storia Economica, Second Series, Vol. 2, International Issue, (1985), pp. 41-78.

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