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"Unusual, Unstable, Complicated, Unreliable and Temporary" Reinterpreting the Ebb and Flow of Globalization

Bordo, Michael D.; Schenk, Catherine R. - National Bureau of Economic Research - 2021

organize: World War I, Bretton Woods, 1970s Great Inflation and Managed Floating. Each turning point was characterized by …

Persistent link: https://www.econbiz.de/10012599404

The International Monetary System and International Financial System as an Analogy to the Copernican Heliocentric system : A simple multi-layers network model with simultaneous reg...

Bordo, Michael D.; Bastidon, Cécile - National Bureau of Economic Research - 2023

The evolution of the IMS and IFS in the past several hundred years can be viewed through the lens of the Copernican heliocentric system developed over 500 years ago. We trace out the evolution across regimes of the IMS and IFS in terms of network representations of the Copernican system. We...

Persistent link: https://www.econbiz.de/10014372472

The Bretton Woods international monetary system : an historical overview

Bordo, Michael D. - 1992

Persistent link: https://www.econbiz.de/10000109009

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

Bordo, Michael D. - 1999

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/10012471593

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/10012480286

Original Sin and the Great Depression

Bordo, Michael D. - 2020

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/10012482024

The Great Depression Analogy

Bordo, Michael D. - 2009

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/10012463065

Is Deflation depressing? Evidence from the Classical Gold Standard

Bordo, Michael D. - 2003

which could intervene in the gold market to shield the domestic economy from external conditions. We proceed by identifying … separate supply' shocks, money supply shocks and demand shocks using a Blanchard-Quah methodology. We model the economy as a … small open economy on the gold standard and identify the shocks by imposing long run restrictions on the impact of the …

Persistent link: https://www.econbiz.de/10012469182

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

Bordo, Michael D. - 2002

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

Persistent link: https://www.econbiz.de/10012469694

Was There Really an Earlier Period of International Financial Integration Comparable to Today?

Bordo, Michael D. - 1998

In this paper we reconsider the international market integration, starting at high levels in the late nineteenth century, collapsing between the wars, and recovering gradually after 1945 to reach levels comparable to pre-1914 in the 1990's. The empirical evidence we survey suggests that in some...

Persistent link: https://www.econbiz.de/10012472076