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The French (Trade) Revolution of 1860 : Intra-Industry Trade and Smooth Adjustment

Becuwe, Stéphane - 2018

The Cobden-Chevalier treaty of 1860 eliminated many French import prohibitions and lowered tariffs between France and … other nations followed because of the use of the unconditional-MFN clause. Post-1860 in France, we find a significant rise …

Persistent link: https://www.econbiz.de/10012909122

Currency Mismatches, Default Risk, and Exchange Rate Depreciation : Evidence from the End of Bimetallism

Bordo, Michael D. - 2010

an improved current account). France%u2019s decision to suspend the free coinage of silver in 1876 played a paramount … that France%u2019s decision to end bimetallism was exogenous from the viewpoint of countries on the silver standard. To …

Persistent link: https://www.econbiz.de/10012761340

Stages of Diversification : France, 1836-1938

Becuwe, Stéphane - 2015

question in France between 1836 and 1938. The period witnessed the onset of modern economic growth and sharp changes in the … disaggregation. At the dawn of the first Globalization, France appears to have specialized along Ricardian lines, exporting a handful … of modern studies. Changes in trade costs along with economic growth help explain the evolution of France's comparative …

Persistent link: https://www.econbiz.de/10013010716

International Aspects of the Great Depression and the Crisis of 2007 : Similarities, Differences, and Lessons

Grossman, Richard S. - 2011

We focus on two international aspects of the Great Depression--financial crises and international trade-- and try to discern lessons for the current economic crisis. Both downturns featured global banking crises which were generated by boom-slump macroeconomic cycles. During both crises, world...

Persistent link: https://www.econbiz.de/10013133067

Capital Flows, Credit Booms, and Financial Crises in the Classical Gold Standard Era

Meissner, Christopher M. - 2013

The classical gold standard period, 1880-1913, witnessed deep economic integration. High capital imports were related to better growth performance but may also have created greater volatility via financial crises. I first document the substantial output losses from various types of crises. I...

Persistent link: https://www.econbiz.de/10013086667

Growing Up to Stability? Financial Globalization, Financial Development and Financial Crises

Bordo, Michael D. - 2015

Why did some countries learn to grow up to financial stability and others not? We explore this question by surveying the key determinants and major policy responses to banking, currency, and debt crises between 1880 and present. We divide countries into three groups: leaders, learners, and...

Persistent link: https://www.econbiz.de/10013020714

Financial Crises, 1880-1913 : The Role of Foreign Currency Debt

Bordo, Michael D.; Meissner, Christopher M. - 2021

What is the role of foreign currency debt in precipitating financial crises? In this paper we assemble data for nearly 30 countries between 1880 and 1913 and examine debt crises, currency crises, banking crises and twin crises. We pay special attention to the role of foreign currency and gold...

Persistent link: https://www.econbiz.de/10013219718

The Role of Foreign Currency Debt in Financial Crises : 1880-1913 vs. 1972-1997

Bordo, Michael D.; Meissner, Christopher M. - 2021

What is the role of foreign currency debt in precipitating financial crises? In this paper we compare the 1880 to 1913 period to recent experience. We examine debt crises, currency crises, banking crises and the interrelation between these varieties of crises. We pay special attention to the...

Persistent link: https://www.econbiz.de/10013220812

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/10012997361

Foreign Currency Debt, Financial Crises and Economic Growth : A Long Run View

Bordo, Michael D. - 2010

Foreign currency debt is widely believed to increase risks of financial crisis, especially after being implicated as a cause of the East Asian crisis in the late 1990s. In this paper, we study the effects of foreign currency debt on currency and debt crises and its indirect short and long run...

Persistent link: https://www.econbiz.de/10013150169