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White, Eugene Nelson 1952-

Works: 79 works in 396 publications in 1 language and 6,723 library holdings
Genres: History  Conference papers and proceedings  Case studies  Criticism, interpretation, etc  Interviews 
Roles: Author, Editor, Performer, Other
Publication Timeline
Publications about Eugene Nelson White
Publications by Eugene Nelson White
Most widely held works about Eugene Nelson White
Most widely held works by Eugene Nelson White
The regulation and reform of the American banking system, 1900-1929 by Eugene Nelson White( Book )
16 editions published between 1983 and 2016 in English and held by 649 libraries worldwide
Examining the regulation of banking in the United States between 1900 and the Great Depression, Eugene Nelson White shows how Congress and the state legislatures tried to strengthen the banking system by creating new institutions, rather than by changing nineteenth-century laws that perpetuated the unit structure of the banking industry. Originally published in 1983. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These paperback edi
The defining moment : the Great Depression and the American economy in the twentieth century by Michael D Bordo( Book )
19 editions published between 1997 and 2014 in English and held by 520 libraries worldwide
The Defining Moment poses the question directly: to what extent, if any, was the Depression a watershed period in the history of the American economy? This volume organizes twelve scholars' responses into four categories: fiscal and monetary policies, the economic expansion of government, the innovation and extension of social programs, and the changing international economy. The central focus across the chapters is the well-known alterations to national government during the 1930s. The Defining Moment attempts to evaluate the significance of the past half-century to the American economy, while not omitting reference to the 1930s
Crashes and panics : the lessons from history by Salomon Brothers Center for the Study of Financial Institutions( Book )
14 editions published in 1990 in English and held by 392 libraries worldwide
Includes index. Papers of a conference held at the Salomon Brothers Center for Study of Financial Institutions at New York University's Stern School of Business in Oct., 1988
Fanny Burney, novelist; a study in technique: Evelina, Cecilia, Camilla, The wanderer by Eugene Nelson White( Book )
16 editions published between 1960 and 1986 in English and held by 295 libraries worldwide
Housing and mortgage markets in historical perspective ( Book )
8 editions published in 2014 in English and held by 180 libraries worldwide
The central role of the housing market in the recent recession raised a series of questions about similar episodes throughout economic history. Were the underlying causes of housing and mortgage crises the same in earlier episodes? Has the onset and spread of crises changed over time? How have previous policy interventions either damaged or improved long-run market performance and stability? This volume begins to answer these questions, providing a much-needed context for understanding recent events by examining how historical housing and mortgage markets worked-and how they sometimes failed. Renowned economic historians Eugene N. White, Kenneth Snowden, and Price Fishback survey the foundational research on housing crises, comparing that of the 1930s to that of the early 2000s in order to authoritatively identify what contributed to each crisis. Later chapters explore notable historical experiences with mortgage securitization and the role that federal policy played in the surge in home ownership between 1940 and 1960. By providing a broad historical overview of housing and mortgage markets, the volume offers valuable new insights to inform future policy debates
Stock market crashes and speculative manias ( Book )
11 editions published in 1996 in English and held by 128 libraries worldwide
Paying for Hitler's war : the consequences of Nazi hegemony for Europe ( Book )
15 editions published between 2015 and 2016 in English and held by 121 libraries worldwide
During World War II, Germany occupied much of continental Europe. Although the social and political history of this occupation has been studied extensively, the economics of the unprecedented transfer of resources has received surprisingly little attention. Allies, neutrals, and conquered nations under German hegemony were a vital source of supplies for Hitler's war machine. Without the war material, consumer goods and labor they provided, Germany would not have been able to wage a prolonged multi-front war. All of these countries suffered enormous losses, but each had a distinct experience that depended on Germany's wartime needs, whether they were allied, occupied or neutral, and their place in Nazi racial ideology. Paying for Hitler's War is a comparative economic study which explores these different experiences through case studies of twelve nations spanning the European continent
France and the Bretton Woods international monetary system, 1960 to 1968 by Michael D Bordo( Book )
22 editions published between 1994 and 1996 in English and held by 82 libraries worldwide
We reinterpret the commonly held view in the U.S. that France, by following a policy from 1965 to 1968 of deliberately converting their dollar holdings into gold helped perpetuate the collapse of the Bretton Woods International Monetary System. We argue that French international monetary policy under Charles de Gaulle was consistent with strategies developed in the interwar period and the French Plan of 1943. France used proposals to return to an orthodox gold standard as well as conversions of its dollar reserves into gold as tactical threats to induce the United States to initiate the reform of the international monetary system towards a more symmetrical and cooperative gold-exchange standard regime
Dave Brubeck : featuring Paul Desmond by Dave Brubeck( visu )
2 editions published between 1999 and 2003 in English and held by 72 libraries worldwide
Live music performance by the Dave Brubeck Quartet and interview
The legacy of deposit insurance : the growth, spread, and cost of insuring financial intermediaries by Eugene Nelson White( Book )
14 editions published in 1997 in English and held by 71 libraries worldwide
Without the Great Depression, the United States would not have adopted deposit insurance. While the New Deal's anti-competitive barriers have largely collapsed become" deeply rooted. This paper examines how market and political competition for deposits raised the level of coverage and spread insurance to all depository institutions. A comparison of the cost of federal insurance with a counterfactual of an insurance-free system shows that federal insurance ultimately imposed a" higher cost but achieved political acceptance because of the distribution of the burden
Deposit insurance by Eugene Nelson White( Book )
11 editions published between 1995 and 1999 in English and Undetermined and held by 70 libraries worldwide
November 1995 Deposit insurance was the peculiar creation of the U.S. banking experience generated by some of that system's worst features. It is inappropriate for developing or transition economies. It presents enormous incentive problems and demands additional regulations and close supervision to make it workable in the short run. Simpler, less costly alternatives may achieve the same objective. Should deposit insurance be recommended? No. History teaches three lessons: * Deposit insurance was not adopted primarily to protect the depositor. There were many ways to increase the soundness of the banking system, and the problems of deposit insurance were well-known from the state experiments that preceded the FDIC. The leading alternative with which contemporaries had experience was to allow branching and the diversification of institutions by geography and product line. But monetary contraction and the politics of the banking crisis empowered small banks instead. * The history of federal and state insurance plans shows that it is all but impossible to escape the moral hazard and other problems inherent in deposit insurance, as Canada learned when it adopted it in 1967. * In setting up banking regulations, including deposit insurance, a banking lobby will be created that will campaign to protect the industry as it stands, and the industry will be pushed on a course that will be difficult to alter. The state experience also contains a lesson: If the government is willing to reduce competition, allow tight cartelization, and impose tight supervision and control, deposit insurance can work for at least 20 years. The public is greatly concerned about the safety of its deposits and U.S. financial history is littered with schemes to protect depositors or note holders. The designs of these systems were influenced by special interests but were also driven by the public's desire for protection. The key problem is one of information: For households and small businesses, it is costly to monitor the performance of banks and decide which is safest, especially when the economy is subject to fluctuations. What plan could a policymaker offer that would not have all the perverse effects of deposit insurance? There is a strong historical precedent for at least one alternative: regulators could require each bank to offer deposit accounts that are segregated, treasury-bill mutual funds. This type of account is effectively insurance from the government, with the same guarantee as government bonds, but without the wrong incentives for financial institutions that arise from deposit insurance. This paper -- a joint product of the Finance and Private Sector Development Division, Policy Research Department, and the Financial Sector Development Department -- was presented at a Bank seminar, Financial History: Lessons of the Past for Reformers of the Present, and is a chapter in a forthcoming volume, Reforming Finance: Some Lessons from History, edited by Gerard Caprio, Jr. and Dimitri Vittas
California banking in the nineteenth century : the art and method of the Bank of A. Levy by Eugene Nelson White( Book )
11 editions published in 1999 in English and held by 64 libraries worldwide
An 1890s loan book of the Bank A. Levy permits a detailed examination of the lending operations of a private bank in California during the National Banking Era (1864-1914). This period has been intensively analyzed at the macroeconomic level, but there are few microeconomic studies of banks. This unregulated bank was well integrated into national money markets and lent to a broad cross section of the community. Although the bank appeared to adhere to the real bills doctrine, it provided medium term uncollateralized financing to business. The bank priced risk carefully, offering rates equal to the lowest in the country to its best customers while charging extraordinarily high rates to borrowers deemed risky. In the absence of modern accounting, close scrutiny of borrowers' businesses and personal lives overcame the asymmetry of information between borrower and lender, enabling the bank to fulfill a special intermediary role
Who panics during panics? : evidence from a nineteenth century savings bank by Cormac Ó Gráda( Book )
14 editions published in 2002 in English and held by 61 libraries worldwide
Using records of the bank accounts of individual depositors, this paper provides a detailed microeconomic analysis of two nineteenth century banking panics. The panics of 1854 and 1857 were not characterized by an immediate mass panic of depositors and had important time dimensions. We examine depositor behavior using a hazard model. Contagion was the key factor in 1854 but it was not strong enough to create more than a local panic. In contrast, the panic of 1857 began with runs by businessmen and banking sophisticates followed by less informed depositors. Uninformed contagion may have been present, but the evidence suggests that this panic was driven by informational shocks in the face of asymmetric information about the true condition of bank portfolios
Making the French pay : the costs and consequences of the Napoleonic reparations by Eugene Nelson White( Book )
11 editions published in 1999 in English and held by 58 libraries worldwide
U.S. stock market crashes and their aftermath : implications for monetary policy by Frederic S Mishkin( Book )
14 editions published in 2002 in English and held by 57 libraries worldwide
This paper examines fifteen historical episodes of stock market crashes and their aftermath in the United States over the last one hundred years. Our basic conclusion from studying these episodes is that financial instability is the key problem facing monetary policy makers and not stock market crashes, even if they reflect the possible bursting of a bubble. With a focus on financial stability rather than the stock market, the response of central banks to stock market fluctuations is more likely to be optimal and maintain support for the independence of the central bank
How could everyone have been so wrong? : forecasting the Great Depression with the railroads by Adam Klug( Book )
12 editions published in 2002 in English and held by 56 libraries worldwide
Contemporary observers viewed the recession that began in the summer of 1929 as nothing extraordinary. Recent analyses have shown that the subsequent large deflation was econometrically forecastable, implying that a driving force in the depression was the high expected real interest rates faced by business. Using a neglected data set of forecasts by railroad shippers, we find that business was surprised by the magnitude of the great depression. We show that an ARIMA or Holt-Winters model of railroad shipments would have produced much smaller forecast errors than those indicated by the surveys. The depth and duration of the depression was beyond the experience of business, which appears to have believed that recovery would happen quickly as in previous recessions. This failure to anticipate the collapse of the economy suggests roles for both high real rates of interest and a debt deflation in the propagation of the depression
The New York stock market in the 1920s and 1930s : did stock prices move together too much? by Peter Rappoport( Book )
10 editions published in 1994 in English and held by 55 libraries worldwide
In this paper, we re-examine the stock market of the 1920s and 1930s for evidence of a bubble, a 'fad' or 'herding' behavior by studying individual stock returns. One story often advanced for the boom of 1928 and 1929 is that it was driven by the entry into the market of largely uninformed investors, who followed the fortunes of and invested in 'favorite' stocks. The recent theoretical literature on how 'noise traders' perturb financial markets is consistent with this description. The result of this behavior would be a tendency for the favorite stocks' prices to move together more than would be predicted by their shared fundamentals. Our results suggest that there was excess comovement in returns even before the boom began, but comovement increased significantly during the boom and was a signal characteristic of the tumultuous market of the early 1930s. These results are thus consistent with the possibility that a fad or crowd psychology played a role in the rise of the market, its crash and subsequent volatility
The highest price ever : the great NYSE seat sale of 1928-29 and capacity constraints by Lance E Davis( Book )
13 editions published in 2005 in English and held by 54 libraries worldwide
"A surge in orders during the stock market boom of the late 1920s collided against the constraint created by the fixed number of brokers on the New York Stock Exchange. Estimates of the determinants of individual stock bid-ask spreads from panel data reveal that spreads jumped when volume spiked, confirming contemporary observers complaints that there were insufficient counterparties. When the position of the NYSE as the dominant exchange became threatened, the management of the exchange proposed a 25 percent increase in the number of seats in February 1929 by issuing a quarter-seat dividend to all members. While such a "stock split" would be expected to leave the aggregate value of the NYSE unchanged, an event study reveals that its value rose in anticipation of increased efficiency. These expectations were justified as bid-ask spreads became less sensitive to peak volume days after the increase in seats"--NBER website
British and French finance during the Napoleonic Wars by Michael D Bordo( Book )
9 editions published between 1990 and 1991 in English and Undetermined and held by 38 libraries worldwide
The Napoleonic Wars offer an experiment unique in the history of wartime finance. While Britain was forced off the gold standard and endured a sustained inflation, France remained on a bimetallic standard for the war's duration. For wars of comparable length and intensity in the nineteenth and twentieth centuries, Napoleonic war finance stands out. This apparent paradox may be explained by drawing upon the literatures on tax smoothing, time consistency, and credibility in macroeconomics. We argue that these contrasting war finance regimes were the consequence of each nation's credibility as a debtor. Given its long record of fiscal probity, coupled with its open budgetary process in Parliament, Great Britain could continue to borrow a substantial fraction of its war expenditures at what were relatively low interest rates. British tax rates did not vary much over most of the eighteenth century as peacetime surpluses offset wartime deficits to payoff the accumulated war debts. In addition, because of its longstanding record of maintaining specie convertibility, Britain had access to the inflation tax although in practice it was not a major source of wartime finance. France, on the other hand, had squandered her reputation in the last decade of the ancient regime and the Revolution. Her dependency on taxation did not reflect any superior fiscal virtues but rather the opposite. Borrowing would have been exceedingly costly and the public very skeptical of the Empire's fidelity. Moreover, the recent experience of assignat hyperinflation ruled out the inflation tax as a source of revenue. Inherited credibility resolves this paradoxical pairing of fiscal regimes
How occupied France financed its own exploitation in World War II by Filippo Occhino( Book )
10 editions published in 2006 in English and held by 30 libraries worldwide
The occupation payments made by France to Nazi Germany between 1940 and 1944 represent one of the largest recorded international transfers and contributed significantly to financing the overall German war effort. Using a neoclassical growth model that incorporates essential features of the occupied economy and the postwar stabilization, we assess the welfare costs of French policies that funded payments to Germany. Occupation payments required a 16 percent reduction of consumption for twenty years, with the draft of labor to Germany and wage and price controls adding substantially to this burden. Vichy's postwar debt overhang would have demanded large budget surpluses; but inflation, which erupted after Liberation, reduced the debt well below its steady state level and redistributed the adjustment costs. The Marshall Plan played only a minor direct role, and international credits helped to substantially lower the nation's burden
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Alternative Names
Nelson White, Eugene
Nelson White, Eugene 1952-
White, Eugène 1952-
White, Eugene N.
White Eugene N. 1952-....
White, Eugene Nelson
White, Eugene Nelson 1952-
English (251)
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