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Real Versus Pseudo-International Systemic Risk : Some Lessons from History

Bordo, Michael D. - 1995

This paper considers the meaning of domestic and international systemic risk. It examines scenarios that have been … adduced as creating systemic risk both within countries and among them. It distinguishes between the concepts of real and … pseudo-systemic risk. We examine the history of episodes commonly viewed either as financial crises or as evidencing systemic …

Persistent link: https://www.econbiz.de/10012473496

Money, history, and international finance : essays in honor of Anna J. Schwartz

Bordo, Michael D. (ed.); Schwartz, Anna Jacobson (honouree) - 1989 - 1. [print.]

Persistent link: https://www.econbiz.de/10000782106

The Global Velocity Curve 1952-1982

Bordo, Michael D. - 1986

This paper provides evidence and an explanation for an empirical regularity in the income velocity of money. Based on a cross country comparison in the post World War II period of 84 countries arrayed from very low to very high per capita income, velocity displays a U shaped pattern. This...

Persistent link: https://www.econbiz.de/10012476996

What If Alexander Hamilton Had Been Argentinean? A Comparison of the Early Monetary Experiences of Argentina and the United States

Bordo, Michael D. - 1998

The contrast between the early nineteenth century Argentinean experience of high inflation and the American experience of low inflation is interpreted in terms of a dynamic monetary model of optimal taxation. It is argued that the two countries' experiences diverged because of the different...

Persistent link: https://www.econbiz.de/10012471950

Implications of the Great Depression for the Development of the International Monetary System

Bordo, Michael D. - 1997

In this paper we speculate about the evolution of the international monetary system in the last 2/3 of the 20th century absent the Great Depression but present the major post-Depression political and economic upheavals: WWII and II and the Cold War. We argue that without the Depression the...

Persistent link: https://www.econbiz.de/10012472945

Fiscal and Financial Crises

Bordo, Michael D. - 2016

Interconnections between banking crises and fiscal crises have a long history. We document the long-run evolution from classic banking panics towards modern banking crises where financial guarantees are associated with crisis resolution. Recent crises feature a feedback loop between bank...

Persistent link: https://www.econbiz.de/10012456615