MICHAEL DAVID BORDO

Biography included in Who's Who in Economics. Second Edition, Third Edition.

Chapter Editor, Financial and Monetary Statistics in Historical Statistics of the United States Millennial Edition.

Managing Editor. Studies in Macroeconomic History. A series of books for Cambridge University Press. 1996-

Co-editor (with Forrest Capie) of Studies in Monetary and Financial History. A series of books in monetary and financial history for Cambridge University Press. 1987-1995.

Referee for:

Journal of Political Economy, American Economic Review, Canadian Journal of Economics, Economic Inquiry, Economica, Southern Economic Journal, Journal of Economic History, Explorations in Economic History, Journal of Money, Credit and Banking, Journal of International Money and Finance, American Journal of Agricultural Economics, National Science Foundation, Canada Council, Journal of Interdisciplinary History, Journal of Macroeconomics, Quarterly Review of Economics and Business, Journal of International Economics, Journal of Monetary Economics, Oxford Economic Papers, Review of Economics and Statistics, Journal of Economic Education, Journal of Japanese and International Economics, Review of Economic Studies, Quarterly Journal of Economics, Economic Journal, Economic Development and Cultural Change, International Organization.

Organizer with Roberto Cortes-Condé of an "A" Session, "The Legacy of Western European Fiscal and Monetary Institutions for the New World: The Seventeenth to the Nineteenth Centuries." Twelfth International Economic History Congress, Seville, Spain. August 1998.

Organizer with Roberto Cortes-Condé of a preconference "The Legacy of Western European Fiscal and Monetary Institutions for the New World: The Seventeenth to the Nineteenth Centuries." Buenos Aires, Argentina. April 1997.

Organizer with Claudia Goldin and Eugene White of an N.B.E.R. Conference, "The Defining Moment: The Great Depression and the American Economy in the Twentieth Century." Kiawah Island, S.C. October 1996.

Organizer with Gerald Feldman, Ulf Olssen, Youssef Cassis, of a "B" Session, "Financial Institutions and Markets in 20th Century Europe and North America." International Economic History Congress. Milan, Italy. September 1994.

Organizer with Richard Sylla of a conference on "Anglo-Saxon Finance: Financial Markets and Institutions in 20th Century North America and the U.K." New York University Salomon Center. December 10, 1993.

Organizer with Eugene White of the Universities Research Council - N.B.E.R. Conference, "Financial Institutions and Macroeconomic Stability: An Historical Perspective." Cambridge, Massachusetts. December 11-12, 1992.

Organizer with Barry Eichengreen of an NBER Conference "A Retrospective on the Bretton Woods System." Bretton Woods, New Hampshire. October 3-6, 1991.

Organizer with Forrest Capie of a "C" session "Monetary Regime Transformations." International Economic History Congress. Leuven, Belgium 1990.

Testimony given to the Subcommittee on Domestic Monetary Policy and to the Subcommittee on International Finance U. S. House of Representatives on "The Baker Proposal for Targeting a Commodity Price Index (Including Gold)", November 17, 1987.

Organizer with Milton Friedman of an NBER Conference in honor of Anna J. Schwartz. New York. October 1987.

Organizer of a session on Monetary History, American Economic Association meetings. Dallas, Texas. 1984.

Organizer with Anna J. Schwartz of the NBER conference "The Classical Gold Standard: A Retrospective." Hilton Head, South Carolina. March 18-22, 1982.

Organizer, Tenth Quantitative Methods in Canadian Economic History Conference. Halifax, Nova Scotia. October 1979.

Participant, Carnegie-Rochester Conference Series on Public Policy. 1979 to present.

Teaching Experience

Courses in Monetary Theory; International Money; Intermediate and Graduate Macroeconomics; Economic History; American, European, U.S. Monetary and Financial History; International Monetary History; Economic Principles.

Ph.D. Dissertations Supervised

Fernando Santos, Three Essays on Portuguese Monetary Economics, University of South Carolina, 1985.

Aurel Schubert, The Credit-Anstalt Crisis of 1931 - A Financial Crisis Revisited, University of South Carolina, 1985.

Ivan Marcotte, Colonial South Carolina: A Quantity Theoretic Perspective, University of South Carolina, 1989.

Bernhard Eschweiler, "Monetary Policy Rules and Central Bank Independence: The Case of Germany, 1876-1989," Rutgers University, 1993.

Michel Becnel, "An Investigation into the Asymmetric Information Transmission Mechanism," Rutgers University, 1994.

Joseph Santos, "Origins of the U.S. Interest Rate Seasonal," Rutgers University, 1995.

Jong Woo Kim, "Path and Volatility of Output Access Monetary Regimes: The Japanese Experience, 1880-1996," Rutgers University, (expected 1998).

1. with Claudia Goldin and Eugene White, The Defining Moment: The Great Depression and the American Economy in the Twentieth Century. University of Chicago Press for the NBER (in press 1998): Chicago.

2. Essays on the Gold Standard and Related Regimes. Cambridge University Press, (1998 in press).

3. with Richard Sylla (eds). Anglo-American Financial Systems: Institutions and Markets in the Twentieth Century. Irwin Professional Publishers, (1995): New York.

4. with Gerald Feldman, Ulf Olssen and Youssef Cassis, Financial Institutions and Markets in 20th Century Europe and North America. Proceedings of the Eleventh International Economic History Congress, North America. Bocconi University, Milan, Italy (1994).

5. with Forrest Capie. Monetary Regimes in Transition. Cambridge University Press, Cambridge (1993).

6. with Barry Eichengreen. A Retrospective on the Bretton Woods System. University of Chicago Press for the NBER, Chicago (1993).

7. Financial Crises in International Library of Macroeconomic and Financial History. Edward Elgar Publishing Limited, London (1992).

8. Money, History and International Finance: Essays in Honor of Anna J. Schwartz. University of Chicago Press for the NBER, Chicago (1989).

9. with Lars Jonung. The Long-Run Behavior of the Velocity of Circulation: The International Evidence. Cambridge University Press, New York (1987).

10. with Anna J. Schwartz. A Retrospective on the Classical Gold Standard, 1821-1931. University of Chicago Press for the NBER, Chicago (1984).

Publications - Articles

1. with Lars Jonung . "A Return to the Convertibility Principle? Monetary and Fiscal Regimes in Historical Perspective," in Axel Leijonhuvhud (ed.) Monetary Theory as a Basis for Monetary Policy. MacMillan, London (1998 forthcoming).

2. Comment on Larry Neal, "The Bank of England’s First Return to Gold and the Stock Market Crash of 1825." Federal Reserve Bank of St. Louis Review (1998 forthcoming).

3. with Tamin Bayoumi. "Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions." Oxford Economic Papers (forthcoming 1998).

4. wih Roberto Cortes-Conde. "The Legacy of Western European Fiscal and Monetary Institutions for the New World." Overview article for session A4. International Economic History Congress. Seville, Spain (August 1998).

5. with Barry Eichengreen. "The Rise and Fall of a Barbarous Relic: The Role of Gold in the International Monetary System," in Guillermo Calvo, Rudiger Dornbusch and Maurice Obstfeld (eds.) Essays in Honor of Robert Mundell. MIT Press (1998 forthcoming).

6. with Anna J. Schwartz. "Monetary Policy Regimes and Economic Performance: The Historical Record." Chapter 1 of the North Holland Handbook of Macroeconomics edited by John Taylor and Michael Woodford (1998 forthcoming).

7. with Barry Eichengreen. "Implications of the Great Depression for the Development of the International Monetary System" in Michael D. Bordo, Claudia Goldin and Eugene N. White. The Defining Moment: The Great Depression and the American Economy in the Twentieth Century. University of Chicago Press: Chicago (1998 in press).

8. with Claudia Goldin and Eugene N. White. "Editor's Introduction." The Defining Moment: The Great Depression and the American Economy in the Twentieth Century. University of Chicago Press: Chicago (1998 in press).

9. with Bruce Mizrach and Anna J. Schwartz. "Real Versus Pseudo International Systemic Risk: Some Lessons From History." Review of Pacific Basin Financial Markets and Policies, (forthcoming 1998).

10. with Kornelia Krajnyak. "Globalization in Historical Perspective." Annex to I.M.F. World Economic Outlook. May 1997, pp. 112-116.

11. with Lars Jonung and Pierre Siklos. "Institutional Change and the Velocity of Money: A Century of Evidence." Economic Inquiry Vol XXXV, No. 4.October 1997, pp. 710-724 .

12. with Lars Jonung. "The History of Monetary Regimes Including Monetary Unions: Some Lessons for Sweden and EMU." Swedish Economic Policy Review. Volume 4. Number 2. Fall 1997.

13. with Lars Jonung. "Internationella växelkurssytem och valutaunioner: nägra lärdomar rörande Sverige och EMU.". Bilaga 1 till EMU-utredningen Sverige och EMU. (Swedish Government Commission on EMU). Stockholm (1996).

14. "Regulation and Bank Stability: Canada and the United States, 1870-1980" in Gerard Caprio, Jr., Reforming Finance: Some Lessons from History. Cambridge University Press, (1996).

15. with Lars Jonung, "Axel Leijonhuvhud," Encyclopedia of Keynesian Economics (1996).

16. with Hugh Rockoff. "The Gold Standard as a `Good Housekeeping Seal of Approval'." Journal of Economic History (June 1996).

17. "Anna J. Schwartz." Encyclopedia of Business Cycles, Panics, Crisis and Depressions (1996).

18. "The Gold Standard." Encyclopedia of Business Cycles, Panics, Crisis and Depressions (1996).

19. with Anna J. Schwartz. "Why Currency Clashes Between Internal and External Stability Goals End in Currency Crises, 1797-1994." Open Economies Review 7:437:468. (1996).

20. Comment on Douglas A. Irwin and Randall S. Kroszner, "Log-Rolling, Partisanship and Economic Interest in the Passage of the Hawley-Smoot Tariff." Carnegie-Rochester Conference on Public Policy, Nov. 1996.

21. with Finn Kydland. "The Gold Standard As a Commitment Mechanism," in Tamin Bayoumi, Barry Eichengreen and Mark Taylor (eds). Economic Perspectives on the Classical Gold Standard. Cambridge University Press (1996).

22. with Anna J. Schwartz. "The Operation of the Specie Standard: Evidence for Core and Peripheral Countries, 1880-1990," in Barry Eichengreen and Jorge Braga de Macedo (eds). Historical Perspectives on the Gold Standard: Portugal and the World. Routledge (1996).

23. with Angela Redish and Hugh Rockoff. "Two Long Roads to Stability: Canadian and American Banking, 1870-1925. Financial History Review (April 1996).

24. with Caroline Betts and Angela Redish. "A Small Open Economy in Depression: Lessons from Canada in the 1930's." Canadian Journal of Economics (February 1996).

25. Michael D. Bordo, "Monetary Regimes and Economic Performance." Economic Affairs. Vol 15, No. 4, (Autumn 1995).

26. "Is There a Good Case for a New Bretton Woods International Monetary System." Papers and Proceedings of the American Economic Association (May 1995).

27. with Ehsan Choudhri and Anna J. Schwartz. "Could Stable Money Have Averted the Great Contraction?" Economic Inquiry. (July 1995).

28. with Anna J. Schwartz. "The Performance and Stability of Banking Systems Under `Self Regulation' Theory and Evidence." Cato Journal. Vol . No. 3 Winter 1995. pp. 453-479.

29. with Finn Kydland. "The Gold Standard as a Rule: An Essay in Exploration." Explorations in Economic History. (October 1995).

30. with Lars Jonung. "Monetary Regimes, Inflation and Monetary Reform: An Essay in Honor of Axel Leijonhufvud" in D. E. Vaz and K. Vellupillai (eds) Inflation, Institutions and Information: Essays in Honor of Axel Leijonhufvud. London: MacMillan (1995).

31. with Angela Redish and Hugh Rockoff. "A Comparison of the United States and Canadian Banking Systems in the Twentieth Century: Stability versus Efficiency," in Michael D. Bordo and Richard Sylla (eds) Anglo-American Financial Systems: Institutions and Markets in the Twentieth Century. Irwin Professional Publishers (1995).

32. with Charles Evans. "Labor Productivity During the Great Depression." Economic Letters. Volume 47:41-45 (1995).

33. with Fernando Santos. "Portugal and the Bretton Woods International System." in Jaime Reis (ed) The History of International Monetary Arrangements. MacMillan, London (1995).

34. with Dominique Simard and Eugene White. "France and the Bretton Woods International Monetary System, 1960 to 1968." in Jaime Reis (ed) The History of International Monetary Arrangements. MacMillan, London (1995).

35. Comment on "Debt, Deflation, the Great Depression and the Gold Standard" by Ronald W. Batchelder and David Glasner, in the George Edward Durrell Foundation, Money and Banking: The American Experience. George Mason University Press (1995).

36. with Angela Redish and Hugh Rockoff. "The U.S. Banking System from a Northern Exposure: Stability Versus Efficiency." Journal of Economic History. Volume 54, No. 2:325-341, June (1994).

37. with Richard Sylla, "North American Financial Institutions and Markets: The United States and Canada in the Twentieth Century" in Michael D. Bordo, Gerald Feldman, Ulf Olssen and Youssef Cassis. Proceedings of the Eleventh International Economic History Congress North America. Bucconi University, Milan, Italy (1994).

38. with Bernhard Eschweiler. "Rules, Discretion and Central Bank Independence: The German Experience 1880 - 1989," in Pierre Siklos ed. Varieties of Monetary Reform: Lessons and Experience on the Road to Monetary Union. Boston, Kluwer Academic Publishers (1994).

39. "The Gold Standard, Bretton Woods and Other Monetary Regimes: An Historical Appraisal," in Dimensions of Monetary Policy: Essays in Honor of Anatole B. Balbach. Federal Reserve Bank of St. Louis Review. Special Issue. April-May (1993).

40. with Dominique Simard and Eugene White. "La France et le Système Monétaire International Instituté par Bretton Woods" in Du Franc Poincaré à l`Ecu, Comité pour L'Histoire Économique et Financière de la France. Paris (1993).

41. with Angela Redish. "Maximizing Seigniorage Revenue During Temporary Suspensions of Convertibility: A Note" Oxford Economic Papers. Volume 45 (1993).

42. with Eugene White. "British and French Finances During the Napoleonic Wars," in Michael Bordo and Forrest Capie (eds.) Monetary Regimes in Transition. Cambridge University Press (1993).

43. with Forest Capie. "Editor's Introduction" to Monetary Regimes in Transition. Cambridge University Press (1993).

44. "The Bretton Woods International Monetary System: An Historical Overview," in Michael Bordo and Barry Eichengreen (eds.) A Retrospective on the Bretton Woods System. University of Chicago Press for the NBER (1993).

45. with Barry Eichengreen. "Preface" to A Retrospective on the Bretton Woods System. University of Chicago Press for the NBER (1993).

46. "The Gold Standard." Fortune Encyclopedia of Economics (1993).

47. "The Gold Standard Theory." New Palgrave Dictionary of Money and Finance. Macmillan (1992).

48. "Bimetallism." New Palgrave Dictionary of Money and Finance. Macmillan (1992).

49. Comment on "The Art of Forecasting from Ancient to Modern Times." Cato Journal. Volume 12, No. 1. Spring/Summer (1992).

50. "Editor's Introduction" to Financial Crises for the International Library of Macroeconomic and Financial History. Edward Elgar Publishers: London (1992).

51. with Peter Rappoport and Anna J. Schwartz. "Money and Credit During the National Banking Era - 1880-1914," in Claudia Goldin and Hugh Rockoff (eds.) Strategic Factors in Nineteenth Century American Economic History. University of Chicago Press:Chicago (1992).

52. "The Lender of Last Resort: Some Insights from History." Research in Financial Services. Vol. 4, December (1992).

53. with Eugene White. "A Tale of Two Currencies: British and French Finances During the Napoleonic Wars." Journal of Economic History. June (1991).

54. "Will the Business Cycle Ever be Obsolete in Industrial Societies?" in Nils Thygesson and Vela Velupillai (eds.), IEA Conference on Business Cycles, Macmillan: London (1991).

55. Comment on "Does Bank Regulation Produce Stability? Lessons from the United States" by George Benston. in Forrest Capie and Geoffrey E. Wood (eds.) Unregulated Banking: Chaos or Order?, Macmillan: London (1991).

56. with Anna J. Schwartz. "What Has Foreign Exchange Market Intervention Since the Plaza Agreement Accomplished?" Open Economies Review, January (1991).

57. "Milton Friedman", in the Encyclopedia of American History and Biography (1991).

58. with Lars Jonung. "The Long-Run Behavior of Velocity; the Institutional Approach Revisited." Journal of Policy Modelling, September (1990).

59. with Ehsan U. Choudhri. Anna J. Schwartz. "Money Stock Targeting, Base Drift and Price Level Predictability: Lessons from the U.K. Experience." Journal of Monetary Economics, Volume 25, March (1990).

60. "The Lender of Last Resort: Some Historical Insights." Federal Reserve Bank of Chicago 25th Annual Conference on Bank Structure and Competition Banking System Risk: Charting a New Course. September (1989).

61. "The Lender of Last Resort: Alternative Views and Historical Experience." Federal Reserve Bank of Richmond Economic Review, March (1990).

62. with Angela Redish. "Credible Commitment and Exchange Rate Stability: Canada's Interwar Experience." Canadian Journal of Economics, Vol. XXIII, No. 2, May (1990).

63. "Adherence to the Gold Standard: A Comment." in W. S. Haraf and Philip Cagan (eds.) Monetary Policy in an Era of Changes. American Enterprise Institute (1990).

64. Comments on Charles Kindleberger. "The Panic of 1873" and on Jack Wilson, Richard Sylla, and Charles Jones, "Financial Market Volatility and Panics Before 1914" in Eugene N. White and Arnold W. Sametz. (eds.) Crashes and Panics in Historical Perspective. Dow Jones (1990).

65. with Anna J. Schwartz. "Cyclical Effects of International Transmission of Real and Monetary Disturbances." in P. Klein (ed.) Festschrift in Honor of Geoffrey Moore. M. E. Sharpe (1990).

66. "Sintesis de las tesis tradicionales sobre el patron oro." Revista de Historia Economica, No. 5. Banco Central Del Ecuador (1989).

67. "The Contribution of A Monetary History of the United States: 1867 to 1960 to Monetary History." in Michael D. Bordo (ed) Money, History and International Finance: Essays in Honor of Anna J. Schwartz. University of Chicago Press for the NBER, Chicago (1989).

68. "Introduction" to Michael D. Bordo (ed.) Money, History and International Finance: Essays in Honor of Anna J. Schwartz, University of Chicago Press for the NBER, Chicago (1989).

69. with Anna J. Schwartz. "Transmission of Real and Monetary Disturbances Under Fixed vs. Floating Exchange Rates." Cato Journal, Vol. 8, No. 2, Fall (1988).

70. Comment on Marvin Goodfriend, "Central Banking Under the Gold Standard." Carnegie- Rochester Conference Series on Public Policy, November (1988).

71. with Anna J. Schwartz. "The ECU -- An Imaginary or Embryonic Form of Money: What Can We Learn From History?" in Paul DeGrauwe and Theo Peeters (ed.) The ECU and European Monetary Integration. Macmillan, London (1988).

72. with Ivan Marcotte. "Purchasing Power Parity in Colonial America: Some Evidence for South Carolina 1732-1774: A Comment on the Michener Paper." Carnegie-Rochester Conference Series on Public Policy. Vol. 27, Autumn (1987).

73. with Angela Redish. "The Costs and Benefits of Exchange Rate Stability: Canada's Interwar Experience." Contemporary Policy Issues, Vol. VI, No. 2, April (1987).

74. with Angela Redish. "Was Creation of a Central Bank in Canada Necessary?" in Catherine England (ed.) The Financial Services Revolution: Policy Directions for the Future. Kluwer Academic Press (1987).

75. with Angela Redish. "Why Did the Bank of Canada Emerge in 1935?" Journal of Economic History, Vol. XLVII, No. 2, June (1987).

76. with Ehsan 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, No. 2, May (1987).

77. with Milton Friedman. "Introduction" to Anna J. Schwartz. Money in Historical Perspective. University of Chicago Press (1987).

78. with Daniel Landau. "The Growth of Government: A Protection Explanation." Public Choice, 53:167-174 (1987).

79. with William H. Phillips. "The Development of Political Economy at South Carolina College: Faithful Index to the Ambitions and Fortunes of the State." in Breaking the Academic Mold: Economists and Higher Learning in the 19th Century, edited by William J. Barber, Wesleyan University Press (1987).

80. "John Law." The New Palgrave: A Dictionary of Economic Theory and Doctrine, Macmillan (1987).

81. "Equation of Exchange." The New Palgrave: A Dictionary of Economic Theory and Doctrine, Macmillan (1987).

82. "Bimetallism." The New Palgrave: A Dictionary of Economic Theory and Doctrine, Macmillan, (1987).

83. "Austrian Influence on Business Cycle Theory." Cato Journal, No. 2 Fall (1987).

84. "Explorations in Monetary History." Explorations in Economic History, Vol. 23, October (1986).

85. with Daniel Landau. "Advocacy and Neo Classical Economics." Eastern Economic Journal, Vol. XII, No. 2, April-June (1986).

86. "Money, Deflation, and Seigniorage in the Fifteenth Century: A Review Essay." Journal of Monetary Economics, Vol. 18 (1986).

87. with Charles Stuart. "Optimal Inflation and Labor Taxes." Quarterly Review of Economics and Business, Vol. 26, No. 2, Summer (1986).

88. "Financial Crises, Banking Crises, Stock Market Crashes and the Money Supply: Some International Evidence: 1870-1933." in F. Capie and G. Wood (eds.) Financial Crises and the World Banking System, Macmillan, London (1986).

89. "Some Historical Evidence 1870-1933 on the Impact and International Transmission of Financial Crises." Rivista Di Storia Economica, Vol. II, Fasc. 3, October (1985).

90. "Effetti e diffusione internazionale delle crisi finanziarie: l'esperienza del periodo. 1870-1933," Rivista Di Storia Economica, Vol. II, Fasc. 3, October (1985).

91. with Richard E. Ellson. "A Model of the Classical Gold Standard with Depletion." Journal of Monetary Economics, Vol. 16, No. 1, July (1985).

92. "The Gold Standard: Myths and Realities." in Barry Siegel (ed.) Money in Crisis, Cambridge, Mass.: Ballinger Publishing Company (1984).

93. "The Gold Standard: The Traditional Approach." in M. D. Bordo and A. J. Schwartz (eds.) A Retrospective on the Classical Gold Standard, 1821-1931, University of Chicago Press (1984).

94. Comment on Phillip Cagan "On the Report of the Gold Commission (1982) and Convertible Monetary Systems." Carnegie-Rochester Conference Series on Public Policy, Vol. 18 (1984).

95. "Some Aspects of the Monetary Economics of Richard Cantillon." Journal of Monetary Economics, Vol. 11, No. 4, August (1983).

96. with Anna J. Schwartz. "The Importance of Stable Money: Theory and Evidence." Cato Journal, Vol. 3, No. 1, May 1983. Reprinted in J. Dorn and A. J. Schwartz (eds.) The Search for Stable Money: Essays on Monetary Reform, University of Chicago Press 1987. Also reprinted in A. J. Schwartz Money in Historical Perspective. Chicago (1987).

97. "The Classical Gold Standard -- Lessons from the Past." in Michael Connolly (ed.) The Choice of an Exchange Rate System. Praeger Press (1983).

98. with E. U. Choudhri. "Currency Substitution and the Demand for Money: Some Evidence for Canada." Journal of Money, Credit and Banking, 14 February (1982).

99. with E. U. Choudhri. "The Link Between Money and Prices in an Open Economy: The Canadian Evidence 1971-1980." Federal Reserve Bank of St. Louis Review, August-September (1982).

100. "The Classical Gold Standard: Some Lessons for Today." Federal Reserve Bank of St. Louis Review, Vol. 63, No. 6, May (1981).

101. "The U.K. Money Supply 1870-1914." Research in Economic History, Vol. 6, 1981.

102. with Anna J. Schwartz. "Money and Prices in the Nineteenth Century: Was Thomas Tooke Right?" Explorations in Economic History, May (1981).

103. with Lars Jonung. "The Long Run Behavior of Income Velocity of Circulation: A Cross Country Comparison of Five Advanced Countries 1870-1975." Economic Inquiry, January (1981).

104. with Daniel Landau. "The Supply and Demand for Protection: A Suggestion for a Positive Theory of Democratic Government." in L. Jonung and I. Stahl (eds.) Theories of Economic Institutions. Scandinavian Journal of Political Science (1981).

105. "The Effects of Monetary Change on Relative Commodity Prices and the Role of Long Term Contracts." Journal of Political Economy, December (1980).

106. "In Memorium: Clark A. Warburton 1896-1979." History of Economics Society Bulletin, 1:16-19, Winter (1980).

107. with Anna J. Schwartz. "Money and Prices in the Nineteenth Century: An Old Debate Rejoined." Journal of Economic History, Vol. XL, No. 1, March (1980).

108. with Anna J. Schwartz. "Clark Warburton: Pioneer Monetarist." Journal of Monetary Economics, Vol. 5, No. 1 (1979).

109. with D. L. Landau. "The Pattern of Citations in Economic Theory 1945-68: Towards a Quantitative History of Economic Thought." History of Political Economy, Vol. 11, No. 2 (1979).

110. with B. Reuterskiold. "K. Wicksell's 1919 Lectures on the Economic Consequences of the First World War." Scandinavian Journal of Economics, Vol. 80, No. 2 (1978).

111. "Reply to comment by A. Hirsch on J. E. Cairnes' Methodology in Theory and Practice." History of Political Economy, Vol. 10, No. 2 (1978).

112. "The Income Effects of the Sources of New Money: A Comparison of the United States and the United Kingdom: 1870-1913." Explorations in Economic History, Vol. XIV, No. 1, January (1977).

113. with Anna J. Schwartz. "Issues in Monetary Economics and Their Impact on Research in Economic History." in R. Gallman (ed.) Recent Developments in the Study of Business and Economic History: Essays in Memory of Herman E. Kross. Supplement to Research in Economic History (1977).

114. "The Income Effects of the Sources of Monetary Change: An Historical Essay." Economic Inquiry, Vol. XIII, No. 4, December (1975).

115. "John E. Cairnes on the Effects of the Australian Gold Discoveries 1851-73: An Early Application of the Methodology of Positive Economics." History of Political Economy, Vol. 7, No. 3, (1975).

Publications - Book Reviews

1. Review of Richard Timberlake, Monetary Policy in the United States: An Intellectual and Institutional History. Public Choice (1996).

2. Review of Barry Eichengreen, Golden Fetters. Journal of International Economics. February (1994).

3. Review of M. June Flanders, International Monetary Economics 1870-1960: Between the Classical and the Neoclassical. Journal of Economic Literature, September (1992).

4. Review of George Rich, Time on the Cross: Money and the Canadian Business Cycle 1867-1914. Journal of Economic History, June (1991).

5. Review of Antoin E. Murphy, Richard Cantillon: Entrepreneur and Economist. Economic History Review (1989).

6. Review of Nathan Schmuckler and Edward Marcus (eds.), Inflation Through the Ages: Economic, Social, Psychological and Historical Aspects. Journal of Economic History, March (1987).

7. Review of Eugene Nelson White, The Regulation and Reform of the American Banking System, 1900-1929. Journal of Money, Credit and Banking, November (1985).

8. Review of Forrest Capie and Alan Webber, A Monetary History of the United Kingdom 1870-1982: Vol. I. Data, Sources, Methods. The Banker, April (1985).

9. Review of Robert B. Russel, The Fallacies of Monetarism. Journal of Economic History (1983).

10. Review of Joel Popkin (ed.), Analysis of Inflation 1965-76. Journal of Economic History, June (1979).

11. Review of Roy W. Jastram, The Golden Constant. Journal of Economic Literature, March (1979).

12. Review of Richard Selden (ed.), Capitalism and Freedom: Prospects and Problems. Canadian Journal of Economics, November (1977).

13. Review of Peter Temin, Causal Factors in American Economic Growth in the Nineteenth Century. Canadian Journal of Economics, May (1976).

14. Review of David K. Sheppard, The Growth and Role of U.K. Financial Institutions 1880-1961. Economica (1974).

15. Review of L. Davis and D. North, Institutional Change and American Economic Growth. Canadian Journal of Economics, February (1973).

Working Papers

1. with Anna Schwartz. "Monetary Policy Regimes and Economic Performance: The Historical Record." NBER Working Paper No. 6201. October (1997).

2. with Ronald MacDonald. "Violations of the `Rules of the Game`and the Credibility of the Classical Gold Standard, 1880-1904." NBER Working Paper No. 6115. July (1997).

3. with Ronald MacDonald. "Violations of the `Rules of the Game` and the Credibility of the Classical Gold Standard, 1880-1904." Global Economic Institutions Working Paper No. 28. July (1997).

4. with Christopher Erceg and Charles Evans. "Money, Sticky Wages, and the Great Depression." NBER Working Paper No. 6071 June (1997).

5. with Barry Eichengreen. "Implications of the Great Depression for the Development of the International Monetary System.’ CFPR Working Paper No. 1680. July (1997).

6. with Barry Eichengreen. "Implications of the Great Depression for the Development of the International Monetary System." NBER Working Paper No. 5883. January (1997).

7. with Tamin Bayoumi. "Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions." NBER Working Paper No. 5497. March (1996).

8. ___________ "Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions." CEPR Working Paper No. 1390. April (1996).

9. with Anna J. Schwartz. "Why Clashes Between Internal and External Stability Goals End in Currency Crises, 1797-1994." NBER Working Paper No. 5710. August (1996).

10. with Bruce Mizrach and Anna J. Schwartz. "Real Versus Pseudo Systemic Risk: Some Lessons From History." NBER Working Paper No. 5371. December (1995).

11. with Hugh Rockoff. "The Gold Standard as a ‘Good Housekeeping Seal of Approval.’" NBER Working Paper No. 5340. November (1995).

12. with Angela Redish and Hugh Rockoff. "A Comparison of the Stability and Efficiency of the Canadian and American Banking Systems 1870 - 1925." NBER Historical Paper No. 67. January (1995).

13. with Dominique Simard and Eugene White. "France and the Breakdown of the Bretton Woods International Monetary System." IMF Working Paper. November (1994).

14. with Anna Schwartz, "The Specie Standard as a Contingent Rule: Some Evidence for Core and Peripheral Countries 1880-1990. NBER Working Paper No. 4860. September (1994).

15. with Dominique Simard and Eugene White. "France and the Bretton Woods International Monetary System: 1960 to 1968." NBER Working Paper No. 4642. February (1994).

16. with Anna J. Schwartz and Ehsan Choudhri, "Could Stable Money Have Averted the Great Contraction?" NBER Working Paper No. 4481. October (1993).

17. with Caroline Betts and Angela Redish. "A Small Open Economy in Depression: Lessons From Canada in the 1930's." NBER Working Paper No. 4515. November (1993).

18. with Bernhard Eschweiler. "Rules, Discretion, and Central Bank Independence: The German Experience 1880 - 1989." NBER Working Paper No. 4549. November (1993).

19. with Hugh Rockoff and Angela Redish. "A Comparison of the United States and Canadian Banking Systems in the Twentieth Century: Stability vs. Efficiency." NBER Working Paper No. 4546. November (1993).

20. with Charles Evans. "Labor Productivity During the Great Depression." NBER Working Paper No. 4033, August (1993).

21. with Lars Jonung and Pierre Siklos, "The Common Development of Institutional Change as Measured by Income Velocity: A Century of Evidence from I ndustrialized Countries." NBER Working Paper No. 4379, June (1993).

22. "The Gold Standard, Bretton Woods and Other Monetary Regimes: An Historical Appraisal," NBER Working Paper No. 4310, April (1993).

23. "The Bretton Woods International Monetary System: An Historical Overview," NBER Working Paper No. 4033, March (1992).

24. with Angela Redish. "Maximizing Seigniorage Revenue During Temporary Suspansions of Convertibility: A Note," NBER Working Paper No. 4024, March (1992).

25. with Finn Kydland. "The Gold Standard as a Rule." Federal Reserve Bank of Cleveland Working Paper No. 9205. March (1992).

26. with Peter Rappoport and Anna Schwartz. "Money and Credit During the National Banking Era 1880-1914," NBER Working Paper No. 3689, April 1991.

27. with Eugene White. "British and French Finance During the Napoleonic Wars," NBER Working Paper No. 3517, November (1990).

28. with Anna Schwartz. "What Has Foreign Exchange Market Intervention Since the Plaza Agreement Accomplished," NBER Working Paper No. 3562, December (1990).

29. with Finn Kydland. "The Gold Standard as a Rule," NBER Working Paper No. 3367, May (1990).

30. with Lars Jonung. "The Long-Run Behavior of Velocity: The Institutional Approach Revisited," NBER Working Paper No. 3204, December (1989).

31. "The Lender of Last Resort: Some Historical Insights," NBER Working Paper No. 3011, June (1989).

32. "The Contribution of A Monetary History of the United States: 1867 to 1960 to Monetary History," NBER Working Paper No. 2549, November (1987).

33. with Angela Redish, "Credible Commitment and Exchange Rate Stability: Canada's Interwar Experience," NBER Working Paper No. 2431, November (1987).

34. with Anna J. Schwartz, "The ECU -- An Imaginary or Embryonic Form of Money: What Can We Learn from History?" NBER Working Paper No 2345, August (1987).

35. with Lars Jonung. "The Global Velocity Curve 1952-1982," NBER Working Paper No. 2079, November (1986).

36. with Lars Jonung. "The Stochastic Properties of Velocity: A New Reinterpretation," NBER Working Paper No. 2255, December (1986).

37. with Angela Redish. "Why Did the Bank of Canada Emerge in 1935?" NBER Working Paper No. 1921, March (1986).

38. "Explorations in Monetary History: A Survey of the Literature," NBER Working Paper No. 1921, March (1986.)

39. "Some Historical Evidence on the Incidence and International Transmission of Financial Crises 1870-1933," NBER Working Paper No. 1606, April (1985).

40. with Ehsan U. Choudhri and Anna J. Schwartz. "Money Growth Variability and Money Supply Interdependence under Interest Rate Control: Some Evidence from Canada," NBER Working Paper No. 1480, October (1984).

41. "The Gold Standard and Economic Stability: A Counterfactual Experiment," Studies in Economic Analysis," Vol. 9, No. 2, Fall (1985).

42. with E. U. Choudhri. "Price Flexibility and the `Law of One Price'. Some Evidence on the Relationship between Canadian and the U.S. Industrial Prices, 1956-1975." Studies in Economic Analysis, Vol. 8, No. 2, Fall (1984).

43. with E. U. Choudhri. "A Monetarist Model of Price Adjustment in a Small Open Economy." Studies in Economic Analysis, Vol. 6, No. 1, Spring (1982).

Research Grants and Fellowships

with Ronald MacDonald, University of Strathclyde. $100,000 from Social Science Research Council (U.K.) "Global Economic Institutions Project." 1996-1998.

with Anna J. Schwartz, NBER. "U.S. Exchange Market Intervention," $80,000 from The Sarah Scaife Family Fdn., 1996-1998.

with Anna J. Schwartz, NBER and Ehsan Choudhri, Carleton University. "Monetary Policy Regimes and Price Stability." $60,500 from The Lynde and Harry Bradley Foundation, 1992-1993.

with Anna J. Schwartz, NBER and Ehsan Choudhri, "Monetary Interdependence Under Managed Flexible Exchange Rates." $50,000 from the Sarah Scaife Family Foundation, $15,000 from Citibank, $20,000 from the Sloan Foundation, 1984-1986.

Canada Council Research Grant for $10,700 "The Long Run Behavior of Income Velocity: The International Evidence," 1978-1980.

Canada Council Research Grant for $11,000 "An International Comparison of the Long-Run Trend of Income Velocity of Circulation 1870-1975," 1977.

Canada Council Research Grant for $5,500 with E.U. Choudhri to examine "The Prices of Traded and Non-Traded Goods in Canada 1961-1975," 1976.

Canada Council Research Grant for $15,000 to study, "The Income Effects of the Sources of Monetary Change in the U.K. 1870-1914," 1973.

Canada Council Doctoral Fellowship 1967-1969.

University of Chicago Doctoral Fellowship 1965-1967.