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Economic Policy Uncertainty and the Credit Channel : Aggregate and Bank Level U.S. Evidence Over Several Decades

Bordo, Michael D. - 2016

Economic policy uncertainty affects decisions of households, businesses, policy makers and Financial intermediaries. We first examine the impact of economic policy uncertainty on aggregate bank credit growth. Then we analyze commercial bank entity level data to gauge the effects of policy...

Persistent link: https://www.econbiz.de/10012997906

Original Sin and the Great Depression

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

Was foreign currency denominated debt a determinant of exchange rate and monetary policy during the Great Depression? Policy makers of the day thought so. High-frequency bond price data show depreciation was associated with elevated risk premia on public debt. We also show that foreign currency...

Persistent link: https://www.econbiz.de/10013310973

Exits from Recessions : The U.S. Experience 1920-2007

Bordo, Michael D. - 2010

instruments of monetary policy and the timing of changes of selected real macro aggregates and price level (inflation) variables … 1960 the Fed has generally tightened when unemployment peaked and this tightening often occurred after inflation began to … rise. The Fed is often too late to prevent inflation …

Persistent link: https://www.econbiz.de/10013148005

Money Matters : Broad Divisia Money and the Recovery of Nominal GDP from the Covid-19 Recession

Bordo, Michael D.; Duca, John V. - 2023

The rise of inflation in 2021 and 2022 surprised many macroeconomists who ignored the earlier surge in money growth …-term nominal GDP growth and inflationary pressures as monetary policy tightening seeks to restore low inflation …

Persistent link: https://www.econbiz.de/10014346628