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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/10012457842

Central Banks : Evolution and Innovation in Historical Perspective

Bordo, Michael D. - 2017

Central banks have evolved for close to four centuries. This paper argues that for two centuries central banks caught up to the strategies followed by the leading central banks of the era; the Bank of England in the eighteenth and nineteenth centuries and the Federal Reserve in the twentieth...

Persistent link: https://www.econbiz.de/10012453864

Further Evidence on the Global Decline in the Mental Health of the Young

Blanchflower, David G.; Bryson, Alex; Lepinteur, Anthony; … - National Bureau of Economic Research - 2024

France, Germany, Italy, Spain and Sweden called, Come-Here, for 2020-2023, plus data from International Social Survey Program … more time daily in front of a screen on the internet or their smartphone, and that within-person increases in poor mental … mental health, and because the results caution against simply using the presence of the internet in the household, or low …

Persistent link: https://www.econbiz.de/10014544778

Bond Market Inflation Expectations in Industrial Countries : Historical Comparisons

Bordo, Michael D. - 2001

We define the Fisherian Golden Rule measure of bond market inflation expectations as the difference between bond rates and trend real GDP growth rates. The concept is based on the Fisherian theory that an increase in longer-term inflation expectations would be reflected in longer-term interest...

Persistent link: https://www.econbiz.de/10012470134

The Inter-War Gold Exchange Standard : Credibility and Monetary Independence

Bordo, Michael D. - 2001

In this paper we analyze the operation of the inter-war gold exchange standard to see if the evident credibility of the system conferred on participating central banks the ability to pursue independent monetary policies. To answer this question we econometrically analyze two key parity, or...

Persistent link: https://www.econbiz.de/10012470290

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

Bordo, Michael D. - 1997

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/10012472699

A Comparison of Changes in the Structure of Wages

Katz, Lawrence F. - 1993

This paper compares changes in the structure of wages in France, Great Britain, Japan. and the United States over the last twenty years. Wage differentials by education and occupation (skill differentials) narrowed substantially in all four countries in the 1970s. Overall wage inequality and...

Persistent link: https://www.econbiz.de/10012474663

Unions Increase Job Satisfaction in the United States

Artz, Benjamin; Blanchflower, David G.; Bryson, Alex - National Bureau of Economic Research - 2021

We revisit the well-known negative association between union coverage and individuals' job satisfaction in the United States, first identified over forty years ago. We find the association has flipped since the Great Recession such that union workers are now more satisfied than their non-union...

Persistent link: https://www.econbiz.de/10012510595

Aggregate Price Shocks and Financial Stability : The United Kingdom 1796-1999

Bordo, Michael D. - 2001

This paper investigates the impact historically of aggregate price shocks on financial stability in the United Kingdom. We construct an annual index of U.K. financial conditions for 1790-1999 and use a dynamic probit model to estimate the effect of aggregate price shocks on the index. We find...

Persistent link: https://www.econbiz.de/10012470133

Well-Being Over Time in Britain and the USA

Blanchflower, David G. - 2000

The standard of living in the industrialized nations has been steadily increasing over the last few decades. Yet some observers wonder whether we are really getting any happier. This paper addresses that question by examining well-being data on 100,000 randomly sampled Americans and Britons from...

Persistent link: https://www.econbiz.de/10012471289