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Economic Policy Uncertainty and the Credit Channel : Aggregate and Bank Level U.S. Evidence over Several Decades

Bordo, Michael D. - 2016

Economic policy uncertainty affects decisions of households, businesses, policy makers and Financial intermediaries. We first examine the impact of economic policy uncertainty on aggregate bank credit growth. Then we analyze commercial bank entity level data to gauge the effects of policy...

Persistent link: https://www.econbiz.de/10012456652

Money, Sticky Wages, and the Great Depression

Bordo, Michael D. - 1997

This paper examines the ability of a simple stylized general equilibrium model that incorporates nominal wage rigidity to explain the magnitude and persistence of the Great Depression in the United States. The impulses to our analysis are money supply shocks. The Taylor contracts model is...

Persistent link: https://www.econbiz.de/10012472743

Exits from Recessions : The U.S. Experience 1920-2007

Bordo, Michael D. - 2010

instruments of monetary policy and the timing of changes of selected real macro aggregates and price level (inflation) variables … 1960 the Fed has generally tightened when unemployment peaked and this tightening often occurred after inflation began to … rise. The Fed is often too late to prevent inflation …

Persistent link: https://www.econbiz.de/10012462920

Money Matters : Broad Divisia Money and the Recovery of Nominal GDP from the COVID-19 Recession

Bordo, Michael D.; Duca, John V. - National Bureau of Economic Research - 2023

The rise of inflation in 2021 and 2022 surprised many macroeconomists who ignored the earlier surge in money growth … seeks to restore low inflation …

Persistent link: https://www.econbiz.de/10014322692

The defining moment : the Great Depression and the American economy in the twentieth century

Bordo, Michael D. (ed.); Goldin, Claudia (ed.); … - 1998

Persistent link: https://www.econbiz.de/10013480824