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From Great Depression to Great Credit Crisis : Similarities, Differences and Lessons

Almunia, Miguel - 2009

The Great Depression of the 1930s and the Great Credit Crisis of the 2000s had similar causes but elicited strikingly different policy responses. It may still be too early to assess the effectiveness of current policy responses, but it is possible to analyze monetary and fiscal policies in the...

Persistent link: https://www.econbiz.de/10013153988

Before the Accord : U.S. Monetary-Financial Policy 1945-51

Eichengreen, Barry; Garber, Peter M. - 2021

Thia paper analyzes U.S. monetary-financial policy in the period leading up to the Treasury-Fed Accord. We model policy as an implicit target zone for the price level and an explicit zone for interest rates, and the difficulties on the eve of the Accord as an incipient run on a collapsing...

Persistent link: https://www.econbiz.de/10013211663

The Economic Consequences of the Franc Poincare

Eichengreen, Barry; Wyplosz, Charles - 2021

In this paper we reassess the cyclical performance of the French economy in the 1920s, focusing in particular on the … exports as a share of GDP turned down as early as 1928, the economy continued to expand for several subsequent years …. Investment, not exports, emerges as the proximate source of the French economy's resistance to the Great Depression. And fiscal …

Persistent link: https://www.econbiz.de/10013215366

Fiscal Policy and Monetary Union : Is There a Tradeoff between Federalism and Budgetary Restrictions?

Eichengreen, Barry; von Hagen, Jürgen - 2021

The Maastricht Treaty on Europe Union features an Excessive Deficit Procedure limiting the freedom to borrow of governments participating in the European monetary union. One justification is to prevent states from over- borrowing and demanding a bailout which could divert the European Central...

Persistent link: https://www.econbiz.de/10013249559

Central Bank Transparency : Where, Why, and with What Effects?

Dincer, N. Nergiz - 2010

Greater transparency in central bank operations is the most dramatic change in the conduct of monetary policy in recent years. In this paper we present new information on its extent and effects. We show that the trend is general: a large number of central banks have moved in the direction of...

Persistent link: https://www.econbiz.de/10012760205

Central Bank Transparency : Causes, Consequences and Updates

Dincer, N. Nergiz; Eichengreen, Barry - 2021

We present updated estimates of central bank for 100 countries up through 2006 and use them to analyze both the determinants and consequences of monetary policy transparency in an integrated econometric framework. We establish that there has been significant movement in the direction of greater...

Persistent link: https://www.econbiz.de/10013225595