NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Working Papers by Michael D. Bordo

Contact and additional information for this authorAll publicationsWorking Papers only

Working Papers

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
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
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
October 2011Reserves and Baskets
with Michael D. Bordo, Harold James: w17492
September 2011The Federal Reserve as an Informed Foreign Exchange Trader: 1973 – 1995
with Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz: w17425
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
May 2011Historical Evidence on the Finance-Trade-Growth Nexus
with Michael D. Bordo, Peter L. Rousseau: w17024
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
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
May 2010Global shocks, economic growth and financial crises: 120 years of New Zealand experience
with Michael D. Bordo, David Hargreaves, Mizuho Kida: w16027
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
November 2009Foreign Currency Debt, Financial Crises and Economic Growth: A Long Run View
with Michael D. Bordo, Christopher M. Meissner, David Stuckler: w15534
September 2009Credit Crises, Money and Contractions: an historical view
with Michael D. Bordo, Joseph G. Haubrich: w15389
January 2009Sterling in crisis: 1964-1967
with Michael D. Bordo, Ronald MacDonald, Michael J. Oliver: w14657
December 2008An Historical Perspective on the Crisis of 2007-2008
w14569
Bretton Woods and the Great Inflation
with Michael D. Bordo, Barry Eichengreen: w14532
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
Foreign Capital and Economic Growth in the First Era of Globalization
with Michael D. Bordo, Christopher M. Meissner: w13577
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
March 2007Three Great American Disinflations
with Michael D. Bordo, Christopher Erceg, Andrew Levin, Ryan Michaels: w12982
Growing Up to Financial Stability
w12993
November 2006The Historical Origins of U.S. Exchange Market Intervention Policy
with Michael D. Bordo, Owen Humpage, Anna J. Schwartz: w12662
October 2006David Laidler on Monetarism
with Michael Bordo, Anna J. Schwartz: w12593
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
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
February 2006Legal-Political Factors and the Historical Evolution of the Finance-Growth Link
with Michael D. Bordo, Peter L. Rousseau: w12035
December 2005The Role of Foreign Currency Debt in Financial Crises: 1880-1913 vs. 1972-1997
with Michael D. Bordo, Christopher M. Meissner: w11897
October 2005Review of A History of the Federal Reserve. Volume 1 (2003) by Allan H. Meltzer
w11714
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
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
Keeping Capital Flowing: The Role of the IMF
with Michael D. Bordo, Ashoka Mody, Nienke Oomes: w10834
August 2004Monetary Policy and Asset Prices: A Look Back at Past U.S. Stock Market Booms
with Michael D. Bordo, David C. Wheelock: w10704
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
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
May 2003IS-LM and Monetarism
with Michael D. Bordo, Anna J. Schwartz: w9713
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
June 2002Globalization and Changing Patterns in the International Transmission of Shocks in Financial Markets
with Michael D. Bordo, Antu Panini Murshid: w9019
May 2002Boom-Busts in Asset Prices, Economic Instability, and Monetary Policy
with Michael D. Bordo, Olivier Jeanne: w8966
January 2002Crises Now and Then: What Lessons from the Last Era of Financial Globalization
with Barry Eichengreen, Michael D. Bordo: w8716
Charles Goodhart's Contributions to the History of Monetary Institutions
with Michael D. Bordo, Anna J. Schwartz: w8717
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
Core, Periphery, Exchange Rate Regimes, and Globalization
with Michael D. Bordo, Marc Flandreau: w8584
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
August 2001The Inter-War Gold Exchange Standard: Credibility and Monetary Independence
with Michael D. Bordo, Ronald MacDonald: w8429
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
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
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
September 1999The Future of EMU: What Does the History of Monetary Unions Tell Us?
with Michael D. Bordo, Lars Jonung: w7365
June 1999Was Adherence to the Gold Standard a "Good Housekeeping Seal of Approval" During the Interwar Period?
with Michael Bordo, Michael Edelstein: w7186
Is Globalization Today Really Different than Globalization a Hunderd Years Ago?
with Michael D. Bordo, Barry Eichengreen, Douglas A. Irwin: w7195
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
March 1999Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions
with Michael D. Bordo, Tamim Bayoumi: w5497
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
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
September 1998Was There Really an Earlier Period of International Financial Integration Comparable to Today?
with Michael D. Bordo, Barry Eichengreen, Jongwoo Kim: w6738
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
September 1997Monetary Policy Regimes and Economic Performance: The Historical Record
with Michael D. Bordo, Anna J. Schwartz: w6201
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
June 1997Why Clashes Between Internal and External Stability Goals End in Currency Crises, 1797-1994
with Michael D. Bordo, Anna J. Schwartz: w5710
Money, Sticky Wages, and the Great Depression
with Michael D. Bordo, Christopher J. Erceg, Charles N. Evans: w6071
February 1997The Specie Standard as a Contingent Rule: Some Evidence for Core and Peripheral Countries, 1880-1990
with Michael D. Bordo, Anna J. Schwartz: w4860
January 1997Implications of the Great Depression for the Development of the International Monetary System
with Michael D. Bordo, Barry Eichengreen: w5883
December 1996A Small Open Economy in Depression: Lessons from Canada in the 1930s
with Caroline M. Betts, Michael D. Bordo, Angela Redish: w4515
November 1996A Comparison of the Stability and Efficiency of the Canadian and American Banking Systems 1870-1925
with Michael D. Bordo, Angela Redish: h0067
The Gold Standard as a `Good Housekeeping Seal of Approval'
w5340
October 1996A 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
May 1996France and the Bretton Woods International Monetary System: 1960-1968
with Michael D. Bordo, Dominique Simard, Eugene White: w4642
January 1996The Gold Standard as a Rule
with Michael D. Bordo, Finn E. Kydland: w3367
December 1995Real Versus Pseudo-International Systemic Risk: Some Lessons from History
with Michael D. Bordo, Bruce Mizrach, Anna J. Schwartz: w5371
November 1995Rules, Discretion, and Central Bank Independence: The German Experience 1880-1989
with Bernhard Eschweiler, Michael D. Bordo: w4547
September 1995Could Stable Money Have Averted The Great Contraction?
with Michael D. Bordo, Ehsan U. Choudhri, Anna J. Schwartz: w4481
April 1995Labor Productivity During the Great Depression
with Michael D. Bordo, Charles L. Evans: w4415
January 1994Maximizing Seignorage Revenue During Temporary Suspensions of Convertibility: A Note
with Michael Bordo, Angela Redish: w4024
October 1993The Gold Standard, Bretton Woods and other Monetary Regimes: An Historical Appraisal
w4310
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
March 1993The Bretton Woods International Monetary System: An Historical Overview
w4033
May 1992Money versus Credit Rationing: Evidence for the National Banking Era, 1880-1914
with Michael D. Bordo, Peter Rappoport, Anna J. Schwartz: w3689
December 1991British and French Finance During the Napoleonic Wars
with Michael D. Bordo, Eugene N. White: w3517
September 1991What has Foreign Market Intervention Since the Plaza Agreement Accomplished?
with Michael D. Bordo, Anna J. Schwartz: w3562
July 1991The Long-Run Behavior of Velocity: The Institutional Approach Revisited
with Michael D. Bordo, Lars Jonung: w3204
February 1991Money 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
January 1991Credible Commitment and Exchange Rate Stability: Canada's Interwar Experience
with Michael D. Bordo, Angela Redish: w2431
August 1990The Lender of Last Resort: Some Historical Insights
w3011
June 1989The ECU - An Imaginary or Embryonic Form of Money: What Can We Learn from History?
with Michael D. Bordo, Anna J. Schwartz: w2345
May 1989The Contribution of a Monetary History of the United States: 1867 to 1960 To Monetary History
w2549
November 1988The Global Velocity Curve 1952-1982
with Michael D. Bordo, Lars Jonung: w2074
September 1988The Stochastic Properties of Velocity: A New Interpretation
with Michael D. Bordo, Lars Jonung: w2255
1988Why did the Bank of Canada Emerge in 1935?
with Michael D. Bordo, Angela Redish: w2079
October 1987Explorations in Monetary History: A Survey of the Literature
w1821
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
September 1986Some Historical Evidence 1870-1933 on the Impact and International Transmission of Financial Crises
w1606

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