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Measuring Real Economic Effects of Bailouts : Historical Perspectives on How Countries in Financial Distress Have Fared with and Without Bailouts

Bordo, Michael D.; Schwartz, Anna J. - 2022

In this paper we first trace the changing nature of banking, currency and debt crises from the last century to the present. Each type of crisis has transmogrified in the presence of official intervention and the creation of a safety net. A similar pattern is observed for international rescue...

Persistent link: https://www.econbiz.de/10014155989

Fiscal and Financial Crises

Bordo, Michael D. - 2016

Interconnections between banking crises and fiscal crises have a long history. We document the long-run evolution from classic banking panics towards modern banking crises where financial guarantees are associated with crisis resolution. Recent crises feature a feedback loop between bank...

Persistent link: https://www.econbiz.de/10012456615

Implications of the Great Depression for the Development of the International Monetary System

Bordo, Michael D.; Eichengreen, Barry - 1998

twentieth century absent the Great Depression, but present the major post-Depression political and economic upheavals: World War …

Persistent link: https://www.econbiz.de/10014073668

Deflation in a Historical Perspective

Bordo, Michael D.; Filardo, Andrew J. - 2013

On 18-19 June 2004, the BIS held a conference on "Understanding Low Inflation and Deflation". This event brought together central bankers, academics and market practitioners to exchange views on this issue (see the conference programme in this document). This paper was presented at the workshop....

Persistent link: https://www.econbiz.de/10014060823

What about a world of currency? Proposal for a common currency among rich democracies. One world money, then and now

Cooper, Richard N.; Bordo, Michael D.; James, Harold - 2022

a World Currency?”; one more affirmative, the other more critical. In addition to the papers by Richard Cooper and …

Persistent link: https://www.econbiz.de/10014080593

Chapter 3 Monetary policy regimes and economic performance: The historical record

Bordo, Michael D.; Schwartz, Anna J. - In: Handbook of macroeconomics : volume 1, part A, (pp. 149-234). 1999

both domestic and international aspects of the monetary regime before World War I has since declined in its relevance. At … and doctrine that developed under the pre-World War I convertible regime proved to be inadequate to deal with domestic … stabilization goals in the interwar period, setting the stage for the Great Depression. In the post-World War II era, the complete …

Persistent link: https://www.econbiz.de/10014024247

Reserves and Baskets

Bordo, Michael D. - 2011

We discuss three well known plans that were offered in the twentieth century to provide an artificial replacement for gold and key currencies as international reserves: Keynes' Bancor, the SDR and the Ecu( predecessor to the euro).The latter two of these reserve substitutes were...

Persistent link: https://www.econbiz.de/10013119771

The Lender of Last Resort : Alternative Views and Historical Experience

Bordo, Michael D. - 2012

Recent liquidity assistance to failing savings and loans and banks (some insolvent and some large) in the U.S. and similar rescues abroad have prompted renewed interest in the topic of the lender of last resort. Under the classical doctrine, the need for a lender of last resort arises in a...

Persistent link: https://www.econbiz.de/10013102748

Epilogue : Foreign-Exchange-Market Operations in the Twenty-First Century

Bordo, Michael D. - 2012

Foreign-exchange operations did not end after the United States stopped its activist approach to intervention. Japan persisted in such operations, but avoided overt conflict with its monetary policy. With the on-set of the Great Recession, Switzerland has transacted in foreign exchange both for...

Persistent link: https://www.econbiz.de/10013107971

Epilogue : Foreign-Exchange-Market Operations in the Twenty-First Century

Bordo, Michael D. - 2012

Foreign-exchange operations did not end after the United States stopped its activist approach to intervention. Japan persisted in such operations, but avoided overt conflict with its monetary policy. With the onset of the Great Recession, Switzerland has transacted in foreign exchange both for...

Persistent link: https://www.econbiz.de/10013108277