Similar Search Results

The London Monetary and Economic Conference of 1933 and the End of the Great Depression : A “Change of Regime” Analysis

Edwards, Sebastian - 2017

In this paper I analyze the London Monetary and Economic Conference of 1933, an almost forgotten episode in U.S. monetary history. I study how the Conference shaped dollar policy during the second half of 1933 and early 1934. I use daily data to investigate the way in which the Conference and...

Persistent link: https://www.econbiz.de/10012962174

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

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

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 …, differ so much? How did the Bank of France manage to keep a stable rate and continuously violate the "rules of the game …"? This paper tackles these questions and shows that the domestic asset portfolio of the Bank of France played a crucial role …

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

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

A Currency of One'S Own? An Empirical Investigation on Dollarization and Independent Currency Unions

Edwards, Sebastian; Magendzo, I. Igal - 2021

In this paper we analyze whether common currency' countries that is, dollarized and independent currency union countries have outperformed countries that have a currency of their own. The paper is empirical and estimates jointly the probability of being a common currency country and outcome'...

Persistent link: https://www.econbiz.de/10013221081

Trade Policy, Exchange Rates and Growth

Edwards, Sebastian - 2021

This paper analyzes the relationship between trade policy and economic performance. The paper is divided in two fundamental parts. The first one uses a cross country data set to investigate the relationship between trade policy and productivity growth. It is found that countries that are more...

Persistent link: https://www.econbiz.de/10013230598

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

Violations of the `Rules of the Game' and the Credibility of the Classical Gold Standard, 1880-1914

Bordo, Michael D.; MacDonald, Ronald - 2021

This paper examines the recently noted finding that the Classical gold standard represented a credible, well-behaved target zone system from the perspective of the well-documented failure of countries to play by the rules of the game in the classical period. In particular, we test an hypothesis...

Persistent link: https://www.econbiz.de/10013239352

British and French Finance During the Napoleonic Wars

Bordo, Michael D.; White, Eugene N. - 2021

standard and endured a sustained inflation, France remained on a bimetallic standard for the war's duration. For wars of … inflation tax although in practice it was not a major source of wartime finance. France, on the other hand, had squandered her …

Persistent link: https://www.econbiz.de/10013247658