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"Unusual, Unstable, Complicated, Unreliable and Temporary" Reinterpreting the Ebb and Flow of Globalization

Bordo, Michael D.; Schenk, Catherine R. - National Bureau of Economic Research - 2021

organize: World War I, Bretton Woods, 1970s Great Inflation and Managed Floating. Each turning point was characterized by …

Persistent link: https://www.econbiz.de/10012599404

The International Monetary System and International Financial System as an Analogy to the Copernican Heliocentric system : A simple multi-layers network model with simultaneous reg...

Bordo, Michael D.; Bastidon, Cécile - National Bureau of Economic Research - 2023

The evolution of the IMS and IFS in the past several hundred years can be viewed through the lens of the Copernican heliocentric system developed over 500 years ago. We trace out the evolution across regimes of the IMS and IFS in terms of network representations of the Copernican system. We...

Persistent link: https://www.econbiz.de/10014372472

A retrospective on the classical gold standard, 1821 - 1931

Bordo, Michael D. (ed.); Schwartz, Anna Jacobson (contributor) - 1984

Persistent link: https://www.econbiz.de/10000085706

Good versus Bad Deflation : Lessons from the Gold Standard Era

Bordo, Michael D. - 2004

based on gold: circumstances which have resonance with the world of today. We identify aggregate supply, aggregate demand …

Persistent link: https://www.econbiz.de/10012468365

Is Deflation depressing? Evidence from the Classical Gold Standard

Bordo, Michael D. - 2003

which could intervene in the gold market to shield the domestic economy from external conditions. We proceed by identifying … separate supply' shocks, money supply shocks and demand shocks using a Blanchard-Quah methodology. We model the economy as a … small open economy on the gold standard and identify the shocks by imposing long run restrictions on the impact of the …

Persistent link: https://www.econbiz.de/10012469182

Was There Really an Earlier Period of International Financial Integration Comparable to Today?

Bordo, Michael D. - 1998

In this paper we reconsider the international market integration, starting at high levels in the late nineteenth century, collapsing between the wars, and recovering gradually after 1945 to reach levels comparable to pre-1914 in the 1990's. The empirical evidence we survey suggests that in some...

Persistent link: https://www.econbiz.de/10012472076

The Rise and Fall of a Barbarous Relic : The Role of Gold in the International Monetary SYstem

Bordo, Michael D. - 1998

inelastically supplied precious metal and elastcially suppled foreign exchange to meet the the world economy's demand for reserves …

Persistent link: https://www.econbiz.de/10012472369

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

Bordo, Michael D. - 1997

monetary system from 1928-1971 and simulate its implications for the determination of the world price level and the durability … implications for economic growth and resource allocation of allowing 1920s-style international capital mobility after World War II …

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

Getting Pegged : Comparing the 1879 and 1925 Gold Resumptions

Bordo, Michael D. - 1996

We compare the resumption of convertibility into gold by the United States in 1879 and Britain in 1925 to ascertain the degree to which the outcomes reflected differences in strategies adopted by the authorities or in the external environment. It is concluded that external factors were the most...

Persistent link: https://www.econbiz.de/10012473362

The Gold Standard as a `Good Housekeeping Seal of Approval'

Bordo, Michael D. - 1995

In this paper we argue that adherence to the gold standard rule of convertibility of national currencies into a fixed weight of gold served as a `good housekeeping seal of approval' which facilitated access by peripheral countries to foreign capital from the core countries of western Europe. We...

Persistent link: https://www.econbiz.de/10012473529