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Bordo, Michael D. - 2008

This study grounds the establishment of EMU and the euro in the context of the history of international monetary cooperation and of monetary unions, above all in the U.S., Germany and Italy. The purpose of national monetary unions was to reduce transactions costs of multiple currencies and...

Persistent link: https://www.econbiz.de/10012772728

The Transformation and Performance of Emerging Market Economies Across the Great Divide of the Global Financial Crisis

Bordo, Michael D. - 2019

The process of central bank (CB) evolution by emerging market economies (EMEs), including central bank independence (CBI) and transparency (CBT), converged towards that of the advanced economies (AEs) before the Global Financial Crisis (GFC) of 2007-2008. It was greatly aided by the adoption of...

Persistent link: https://www.econbiz.de/10012861733

Is Globalization Today Really Different than Globalization a Hunderd Years Ago?

Bordo, Michael D.; Eichengreen, Barry; Irwin, Douglas A. - 2021

for the United States but also with reference to the wider world. We establish the outlines of international integration a … century ago and analyze the institutional and informational impediments that prevented the late nineteenth century world from … achieving the same degree of integration as today. We conclude that the world today is different: commercial and financial …

Persistent link: https://www.econbiz.de/10013214589

Globalization and Changing Patterns in the International Transmission of Shocks in Financial Markets

Bordo, Michael D.; Murshid, Antu Panini - 2021

of both advanced and emerging countries during two periods of globalization -- the pre-World War I classical gold …

Persistent link: https://www.econbiz.de/10013246049

The Great Depression Analogy

Bordo, Michael D. - 2010

This paper examines three areas in which analogies have been made between the interwar depression and the financial crisis of 2007 which reached a dramatic climax in September 2008 with the collapse of Lehman Brothers and the rescue of AIG: they can be labeled macro-economic, micro-economic, and...

Persistent link: https://www.econbiz.de/10013149822

Getting Pegged : Comparing the 1879 and 1925 Gold Resumptions

Bordo, Michael D.; Bayoumi, Tamim - 2022

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/10013309221