IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this paper

Monetary Regimes and Policy on a Global Scale: The Oeuvre of Michael D. Bordo

  • Rockoff, Hugh
  • White, Eugene N.

Michael D. Bordo has helped to define the modern field of monetary history, drawing from it important policy lessons for current practitioners. For his seventieth year, we survey his contributions to our understanding of the Great Depression, money and the economy in historical perspective, exchange rate regimes including the gold standard, Bretton Woods, and the European Monetary Union, globalization, financial crises, the Canadian monetary experience, and historical guidance for monetary policy.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: https://mpra.ub.uni-muenchen.de/49672/1/MPRA_paper_49672.pdf
File Function: original version
Download Restriction: no

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 49672.

as
in new window

Length:
Date of creation: Dec 2012
Date of revision: May 2013
Handle: RePEc:pra:mprapa:49672
Contact details of provider: Postal:
Ludwigstraße 33, D-80539 Munich, Germany

Phone: +49-(0)89-2180-2459
Fax: +49-(0)89-2180-992459
Web page: https://mpra.ub.uni-muenchen.de

More information through EDIRC

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Michael D. Bordo & Owen F. Humpage & Anna J. Schwartz, 2011. "U.S. intervention during the Bretton Wood Era:1962-1973," Working Paper 1108, Federal Reserve Bank of Cleveland.
  2. Bordo, Michael D. & Evans, Charles L., 1995. "Labor productivity during the Great Depression," Economics Letters, Elsevier, vol. 47(1), pages 41-45, January.
  3. Miron, Jeffrey A., 1994. "Empirical methodology in macroeconomics explaining the success of Friedman and Schwartz's 'a monetary history of the United States, 1867-1960'," Journal of Monetary Economics, Elsevier, vol. 34(1), pages 17-25, August.
  4. Caroline M. Betts & Michael D. Bordo & Angela Redish, 1993. "A Small Open Economy in Depression: Lessons from Canada in the 1930s," NBER Working Papers 4515, National Bureau of Economic Research, Inc.
  5. Michael D. Bordo & John Landon-Lane, 2010. "Exits from Recessions: The U.S. Experience 1920-2007," NBER Working Papers 15731, National Bureau of Economic Research, Inc.
  6. Michael D. Bordo & Ronald MacDonald, 2001. "The Inter-War Gold Exchange Standard: Credibility and Monetary Independence," NBER Working Papers 8429, National Bureau of Economic Research, Inc.
  7. Michael D. Bordo & Claudia Goldin & Eugene N. White, 1998. "The Defining Moment: The Great Depression and the American Economy in the Twentieth Century," NBER Books, National Bureau of Economic Research, Inc, number bord98-1, Enero.
  8. Michael D. Bordo, 1999. "International Rescues versus Bailouts: A Historical Perspective," Cato Journal, Cato Journal, Cato Institute, vol. 18(3), pages 363-375, Winter.
  9. Michael D. Bordo & Christopher M. Meissner & David Stuckler, 2009. "Foreign Currency Debt, Financial Crises and Economic Growth: A Long Run View," NBER Working Papers 15534, National Bureau of Economic Research, Inc.
  10. Bordo, Michael D. & Schwartz, Anna J., 1979. "Clark Warburton: Pioneer monetarist," Journal of Monetary Economics, Elsevier, vol. 5(1), pages 43-65, January.
  11. Michael Bordo & Andrew Filardo, 2005. "Deflation and monetary policy in a historical perspective: remembering the past or being condemned to repeat it?," Economic Policy, CEPR;CES;MSH, vol. 20(44), pages 799-844, October.
  12. Christopher J. Erceg & Michael D. Bordo & Charles L. Evans, 2000. "Money, Sticky Wages, and the Great Depression," American Economic Review, American Economic Association, vol. 90(5), pages 1447-1463, December.
  13. Michael D. Bordo & Anna J. Schwartz, 2004. "IS-LM and Monetarism," History of Political Economy, Duke University Press, vol. 36(5), pages 217-239, Supplemen.
  14. Michael D. Bordo & John Landon Lane & Angela Redish, 2004. "Good versus Bad Deflation: Lessons from the Gold Standard Era," NBER Working Papers 10329, National Bureau of Economic Research, Inc.
  15. James Tobin, 1970. "Money and Income: Post Hoc Ergo Propter Hoc?," The Quarterly Journal of Economics, Oxford University Press, vol. 84(2), pages 301-317.
  16. Bordo, Michael D. & Haubrich, Joseph G., 2008. "Forecasting with the yield curve; level, slope, and output 1875-1997," Economics Letters, Elsevier, vol. 99(1), pages 48-50, April.
  17. Michael Bordo & John Landon-Lane & Angela Redish, 2010. "Deflation, Productivity Shocks and Gold: Evidence from the 1880–1914 Period," Open Economies Review, Springer, vol. 21(4), pages 515-546, September.
  18. Michael Bordo & Tamara Gomes & Lawrence Schembri, 2009. "Canada and the IMF: Trailblazer or Prodigal Son?," Discussion Papers 09-1, Bank of Canada.
  19. Bordo, Michael D. & Schwartz, Anna J., 1980. "Money and Prices in the Nineteenth Century: An Old Debate Rejoined," The Journal of Economic History, Cambridge University Press, vol. 40(01), pages 61-67, March.
  20. Michael D. Bordo & Ashoka Mody & Nienke Oomes, 2004. "Keeping Capital Flowing; The Role of the IMF," IMF Working Papers 04/197, International Monetary Fund.
  21. Michael D. Bordeo and Anna J. Schwartz, 1995. "The Performance and Stability of Banking Systems under "Self-Regulation": Theory and Evidence," Cato Journal, Cato Journal, Cato Institute, vol. 14(3), pages 453-479, Winter.
  22. Michael D. Bordo & Michael J. Dueker & David C. Wheelock, 2000. "Aggregate Price Shocks and Financial Instability: An Historical Analysis," NBER Historical Working Papers 0125, National Bureau of Economic Research, Inc.
  23. 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.
  24. Bordo, Michael D. & Meissner, Christopher M., 2011. "Foreign capital, financial crises and incomes in the first era of globalization," European Review of Economic History, Cambridge University Press, vol. 15(01), pages 61-91, April.
  25. Bordo, Michael David, 1980. "The Effects of Monetary Change on Relative Commodity Prices and the Role of Long-Term Contracts," Journal of Political Economy, University of Chicago Press, vol. 88(6), pages 1088-1109, December.
  26. Bordo, Michael D. & Meissner, Christopher M. & Weidenmier, Marc D., 2009. "Identifying the effects of an exchange rate depreciation on country risk: Evidence from a natural experiment," Journal of International Money and Finance, Elsevier, vol. 28(6), pages 1022-1044, October.
  27. Bordo, Michael D & Choudhri, Ehsan U & Schwartz, Anna J, 1995. "Could Stable Money Have Averted the Great Contraction?," Economic Inquiry, Western Economic Association International, vol. 33(3), pages 484-505, July.
  28. 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.
  29. Bordo, Michael D. & Vegh, Carlos A., 2002. "What if Alexander Hamilton had been Argentinean? A comparison of the early monetary experiences of Argentina and the United States," Journal of Monetary Economics, Elsevier, vol. 49(3), pages 459-494, April.
  30. Christina D. Romer, 1993. "The Nation in Depression," Journal of Economic Perspectives, American Economic Association, vol. 7(2), pages 19-39, Spring.
  31. Michael D. Bordo & Owen Humpage & Anna J. Schwartz, 2006. "The Historical Origins of U.S. Exchange Market Intervention Policy," NBER Working Papers 12662, National Bureau of Economic Research, Inc.
  32. Michael D. Bordo & Anna J. Schwartz, 1998. "Under What Circumstances, Past and Present, Have International Rescues of Countries in Financial Distress Been Successful?," NBER Working Papers 6824, National Bureau of Economic Research, Inc.
  33. 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.
  34. Boyer, George R. & Hatton, Timothy J., 2002. "New Estimates Of British Unemployment, 1870 1913," The Journal of Economic History, Cambridge University Press, vol. 62(03), pages 643-675, September.
  35. Michael D. Bordo & Alan M. Taylor & Jeffrey G. Williamson, 2003. "Globalization in Historical Perspective," NBER Books, National Bureau of Economic Research, Inc, number bord03-1, Enero.
  36. Michael D. Bordo & Antu Panini Murshid, 2002. "Globalization and Changing Patterns in the International Transmission of Shocks in Financial Markets," NBER Working Papers 9019, National Bureau of Economic Research, Inc.
  37. Michael D. Bordo & Angela Redish, 1987. "Credible Commitment and Exchange Rate Stability: Canada's Interwar Experience," NBER Working Papers 2431, National Bureau of Economic Research, Inc.
  38. Michael Bordo, 2000. "Sound Money and Sound Financial Policy," Journal of Financial Services Research, Springer;Western Finance Association, vol. 18(2), pages 129-155, December.
  39. Michael D. Bordo, 1990. "The lender of last resort : alternative views and historical experience," Economic Review, Federal Reserve Bank of Richmond, issue Jan, pages 18-29.
  40. Michael Bordo & Anna Schwartz, 1991. "What has foreign exchange market intervention since the Plaza Agreement accomplished?," Open Economies Review, Springer, vol. 2(1), pages 39-64, February.
  41. Olivier D Jeanne & Michael D. Bordo, 2002. "Monetary Policy and Asset Prices; Does "Benign Neglect" Make Sense?," IMF Working Papers 02/225, International Monetary Fund.
  42. Stephen G. Cecchetti & Pok-sang Lam & Nelson C. Mark, 1998. "Asset Pricing with Distorted Beliefs: Are Equity Returns Too Good To Be True?," NBER Working Papers 6354, National Bureau of Economic Research, Inc.
  43. Bordo,Michael D. & Capie,Forrest, 2006. "Monetary Regimes in Transition," Cambridge Books, Cambridge University Press, number 9780521030427, October.
  44. Michael Bordo & Harold James, 2012. "Reserves and Baskets," Open Economies Review, Springer, vol. 23(1), pages 113-127, February.
  45. MArdi Dungey & Renee Fry & Brenda Gonzales-Hermosillo & Vance L. Martin & Chrismin Tang, 2008. "Are Financial Crises Alike?," CAMA Working Papers 2008-15, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
  46. Bordo, Michael D. & Hautcoeur, Pierre-Cyrille, 2007. "Why didn't France follow the British stabilisation after World War I?," European Review of Economic History, Cambridge University Press, vol. 11(01), pages 3-37, April.
  47. Michael D. Bordo & Joseph G. Haubrich, 2009. "Credit crises, money, and contractions: A historical view," Working Paper 0908, Federal Reserve Bank of Cleveland.
  48. Michael D. Bordo & Peter L. Rousseau, 2006. "Legal-Political Factors and the Historical Evolution of the Finance-Growth Link," NBER Working Papers 12035, National Bureau of Economic Research, Inc.
  49. Michael D. Bordo & Alberto F. Cavallo & Christopher M. Meissner, 2007. "Sudden Stops: Determinants and Output Effects in the First Era of Globalization, 1880-1913," NBER Working Papers 13489, National Bureau of Economic Research, Inc.
  50. Bordo, Michael D & Jonung, Lars & Siklos, Pierre L, 1997. "Institutional Change and the Velocity of Money: A Century of Evidence," Economic Inquiry, Western Economic Association International, vol. 35(4), pages 710-24, October.
  51. 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.
  52. Michael D. Bordo & Andrew Filardo, 2007. "Money Still Makes the World Go Round: The Zonal View," Journal of the European Economic Association, MIT Press, vol. 5(2-3), pages 509-523, 04-05.
  53. Bernanke, Ben S, 1983. "Nonmonetary Effects of the Financial Crisis in Propagation of the Great Depression," American Economic Review, American Economic Association, vol. 73(3), pages 257-276, June.
  54. Bordo, Michael D. & MacDonald, Ronald, 2005. "Interest rate interactions in the classical gold standard, 1880-1914: was there any monetary independence?," Journal of Monetary Economics, Elsevier, vol. 52(2), pages 307-327, March.
  55. Gary Richardson & William Troost, 2009. "Monetary Intervention Mitigated Banking Panics during the Great Depression: Quasi-Experimental Evidence from a Federal Reserve District Border, 1929-1933," Journal of Political Economy, University of Chicago Press, vol. 117(6), pages 1031-1073, December.
  56. James Tobin, 1970. "Rejoinder," The Quarterly Journal of Economics, Oxford University Press, vol. 84(2), pages 328-329.
  57. Michael D. Bordo & Alan M. Taylor & Jeffrey G. Williamson, 2003. "Introduction to "Globalization in Historical Perspective"," NBER Chapters, in: Globalization in Historical Perspective, pages 1-10 National Bureau of Economic Research, Inc.
  58. Hamilton, James D, 1992. "Was the Deflation during the Great Depression Anticipated? Evidence from the Commodity Futures Market," American Economic Review, American Economic Association, vol. 82(1), pages 157-178, March.
  59. Richardson, Gary, 2007. "Categories and causes of bank distress during the great depression, 1929-1933: The illiquidity versus insolvency debate revisited," Explorations in Economic History, Elsevier, vol. 44(4), pages 588-607, October.
  60. repec:cto:journl:v:24:y:2004:i:1-2:p:163-170 is not listed on IDEAS
  61. Michael Bordo & John Landon-Lane, 2010. "The banking panics in the United States in the 1930s: some lessons for today," Oxford Review of Economic Policy, Oxford University Press, vol. 26(3), pages 486-509, Autumn.
  62. Michael D. Bordo & Ehsan U. Choudhri, 1980. "Currency Substitution and the Semand for Money: Some Evidence for Canada," UCLA Economics Working Papers 190, UCLA Department of Economics.
  63. Cecchetti, Stephen G, 1992. "Prices during the Great Depression: Was the Deflation of 1930-1932 Really Unanticipated?," American Economic Review, American Economic Association, vol. 82(1), pages 141-156, March.
  64. Bordo, Michael D. & Redish, Angela, 1987. "Why Did the Bank of Canada Emerge in 1935?," The Journal of Economic History, Cambridge University Press, vol. 47(02), pages 405-417, June.
  65. Michael D. Bordo, 1981. "The classical gold standard: some lessons for today," Review, Federal Reserve Bank of St. Louis, issue May, pages 2-17.
  66. Michael D. Bordo & Harold James, 2008. "A Long Term Perspective on the Euro," NBER Working Papers 13815, National Bureau of Economic Research, Inc.
  67. Bordo, Michael David, 1983. "Some aspects of the monetary economics of Richard Cantillon," Journal of Monetary Economics, Elsevier, vol. 12(2), pages 235-258.
  68. Bordo, Michael David & Ellson, Richard Wayne, 1985. "A model of the classical gold standard with depletion," Journal of Monetary Economics, Elsevier, vol. 16(1), pages 109-120, July.
  69. Michael D. Bordo & Joseph G. Haubrich, 2012. "Deep recessions, fast recoveries, and financial crises: evidence from the American record," Working Paper 1214, Federal Reserve Bank of Cleveland.
  70. Bordo, Michael D & Choudhri, Ehsan U & Schwartz, Anna J, 1987. "The Behavior of Money Stock under Interest Rate Control: Some Evidence for Canada," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 19(2), pages 181-97, May.
  71. Michael D. Bordo, 2004. "The United States as a Monetary Union and the Euro: A Historical Perspective," Cato Journal, Cato Journal, Cato Institute, vol. 24(1-2), pages 163-170, Spring/Su.
  72. Michael D. Bordo & David C. Wheelock, 1998. "Price stability and financial stability: the historical record," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 41-62.
  73. Ben S. Bernanke & Mark Gertler, 2001. "Should Central Banks Respond to Movements in Asset Prices?," American Economic Review, American Economic Association, vol. 91(2), pages 253-257, May.
  74. Bordo, Michael D. & White, Eugene N., 1991. "A Tale of Two Currencies: British and French Finance During the Napoleonic Wars," The Journal of Economic History, Cambridge University Press, vol. 51(02), pages 303-316, June.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:49672. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.