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Central Bank Credibility, Reputation and Inflation Targeting in Historical Perspective

Bordo, Michael D. - 2014

This paper examines the historical evolution of central bank credibility using both historical narrative and empirics for a group of 16 countries, both advanced and emerging. It shows how the evolution of credibility has gone through a pendulum where credibility was high under the classical gold...

Persistent link: https://www.econbiz.de/10013043621

Central Bank Credibility : An Historical and Quantitative Exploration

Bordo, Michael D. - 2015

In this paper we provide empirical measures of central bank credibility and augment these with historical narratives from eleven countries. To the extent we are able to apply reliable institutional information we can also indirectly assess their role in influencing the credibility of the...

Persistent link: https://www.econbiz.de/10013030622

The Spatial Mismatch between Innovation and Joblessness

Glaeser, Edward L. - 2019

's most persistent pockets of joblessness. Could a more even spatial distribution of innovation reduce American joblessness …? Could Federal policies disperse innovation without significant costs? If research funding is already maximizing knowledge … production, then spatial reallocation of that funding will reduce America's overall innovation unless that reallocation comes …

Persistent link: https://www.econbiz.de/10012869066

The rise of the skilled city

Glaeser, Edward L.; Saiz, Albert - 2003

Persistent link: https://www.econbiz.de/10002455820

Measuring Gentrification : Using Yelp Data to Quantify Neighborhood Change

Glaeser, Edward L. - 2018

We demonstrate that data from digital platforms such as Yelp have the potential to improve our understanding of gentrification, both by providing data in close to real time (i.e. nowcasting and forecasting) and by providing additional context about how the local economy is changing. Combining...

Persistent link: https://www.econbiz.de/10012911707

The Real Exchange Rate in the Long Run : Balassa-Samuelson Effects Reconsidered

Bordo, Michael D. - 2014

Historical data for over hundred years and 14 countries is used to estimate the long-run effect of productivity on the real exchange rate. We find large variations in the productivity effect across four distinct monetary regimes in the sample period. Although the traditional Balassa-Samuelson...

Persistent link: https://www.econbiz.de/10013051759

The Price of Stability : The Balance Sheet Policy of the Banque De France and the Gold Standard (1880-1914)

Bazot, Guillaume - 2014

Under the classical gold standard (1880-1914), the Bank of France maintained a stable discount rate while the Bank of England changed its rate very frequently. Why did the policies of these central banks, the two pillars of the gold standard, differ so much? How did the Bank of France manage to...

Persistent link: https://www.econbiz.de/10013046162

Money, Sticky Wages, and the Great Depression

Bordo, Michael D.; Erceg, Christopher J.; Evans, Charles L. - 2021

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/10013217205

Corruption in America

Glaeser, Edward L.; Saks, Raven E. - 2021

We use a data set of federal corruption convictions in the U.S. to investigate the causes and consequences of corruption. More educated states, and to a less degree richer states, have less corruption. This relationship holds even when we use historical factors like education in 1928 or...

Persistent link: https://www.econbiz.de/10013218129

Cities, Regions and the Decline of Transport Costs

Glaeser, Edward L.; Kohlhase, Janet E. - 2021

The theoretical framework of urban and regional economics is built on transportation costs for manufactured goods. But over the twentieth century, the costs of moving these goods have declined by over 90% in real terms, and there is little reason to doubt that this decline will continue....

Persistent link: https://www.econbiz.de/10013220511