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Losing our marbles in the new century?: the great rebalancing in historical perspective

  • Christopher M. Meissner
  • Alan M. Taylor

We focus on the two eras of globalization: “then” (the period 1870 to 1913) and “now” (the period since the 1970s). We look at the special position in the global macroeconomy of the hegemons in each era: Britain then, and the United States now. And adducing historical data to match what we know from the contemporary record, we proceed in the tradition of New Comparative Economic History to see what lessons the past might have for the present.

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File URL: http://www.bostonfed.org/economic/conf/conf51/papers/meissner_taylor.pdf
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Article provided by Federal Reserve Bank of Boston in its journal Conference Series ; [Proceedings].

Volume (Year): 51 (2006)
Issue (Month): ()
Pages:

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Handle: RePEc:fip:fedbcp:y:2006:n:51:x:7
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  16. Michael D. Bordo & Barry Eichengreen & Jongwoo Kim, 1998. "Was There Really an Earlier Period of International Financial Integration Comparable to Today?," NBER Working Papers 6738, National Bureau of Economic Research, Inc.
  17. Caroline Freund & Frank Warnock, 2005. "Current Account Deficits in Industrial Countries: The Bigger They are, the Harder They Fall?," NBER Working Papers 11823, National Bureau of Economic Research, Inc.
  18. Michael Bordo & Barry Eichengreen & Daniela Klingebiel & Maria Soledad Martinez-Peria, 2001. "Is the crisis problem growing more severe?," Economic Policy, CEPR;CES;MSH, vol. 16(32), pages 51-82, 04.
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