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Bordo, Michael D.

Overview
Works: 383 works in 1,942 publications in 2 languages and 19,146 library holdings
Genres: History  Conference papers and proceedings 
Roles: Author, Editor, Other, Contributor, Honoree
Classifications: HG297,
Publication Timeline
Key
Publications about Michael D Bordo
Publications by Michael D Bordo
Most widely held works by Michael D Bordo
A Retrospective on the classical gold standard, 1821-1931 by Michael D Bordo( Book )
17 editions published between 1984 and 2014 in English and Italian and held by 738 libraries worldwide
This is a timely review of the gold standard covering the 110 years of its operation until 1931, when Britain abandoned it in the midst of the Depression. Current dissatisfaction with floating rates of exchange has spurred interest in a return to a commodity standard. The studies in this volume were designed to gain a better understanding of the historical gold standard, but they also throw light on the question of whether restoring it today could help cure inflation, high interest rates, and low productivity growth. The volume includes a review of the literature on the classical gold standard
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 2007 in English and held by 527 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
Globalization in historical perspective by Michael D Bordo( Book )
28 editions published between 2003 and 2007 in English and held by 519 libraries worldwide
The 11 papers in this text explore a variety of topics on globalization in the context of the history of international trade, including how the process of globalization can be measured by the long-term integration of markets, and what trends and questions develop as markets converge and diverge
A Retrospective on the Bretton Woods system : lessons for international monetary reform by National Bureau of Economic Research( Book )
17 editions published between 1993 and 2007 in English and held by 501 libraries worldwide
At the close of the Second World War, when industrialized nations faced serious trade and financial imbalances, delegates from forty-four countries met in Bretton Woods, New Hampshire, in order to reconstruct the international monetary system. In this volume, three generations of scholars and policy makers, some of whom participated in the 1944 conference, consider how the Bretton Woods System contributed to unprecedented economic stability and rapid growth for 25 years and discuss the problems that plagued the system and led to its eventual collapse in 1971. The contributors explore adjustmen
Monetary regimes in transition by Michael D Bordo( Book )
23 editions published between 1993 and 2006 in 3 languages and held by 413 libraries worldwide
This important contribution to comparative economic history examines different countries' experiences with different monetary regimes. The contributors lay particular emphasis on how the regimes fared when placed under stress such as wars or other changes in the economic environment. Covering the experience of ten countries over the period 1700 1990, the book employs the latest techniques of economic analysis in order to understand why particular monetary regimes and policies succeeded or failed
Money, history, and international finance : essays in honor of Anna J. Schwartz by Michael D Bordo( Book )
16 editions published between 1989 and 2007 in English and held by 406 libraries worldwide
This volume provides a critical evaluation of Anna J. Schwartz's work and probes various facets of the immense contribution of her scholarship-How well has it stood the test of time? What critiques have been leveled against it? How has monetary research developed over the years, and how has her influence been manifested? Bordo has collected five conference papers presented by leading monetary scholars, discussants' comments, and closing remarks by Milton Friedman and Karl Brunner. Each of these insightful surveys extends Schwartz's work and makes its own contribution to the fields of monetary history, theory, and policy. The volume also contains a foreword by Martin Feldstein and a selected bibliography of publications by Anna Schwartz
The long-run behavior of the velocity of circulation : the international evidence by Michael D Bordo( Book )
14 editions published in 1987 in English and held by 364 libraries worldwide
The gold standard and related regimes: collected essays by Michael D Bordo( Book )
18 editions published between 1999 and 2005 in English and held by 326 libraries worldwide
Bordo's classic essays on the gold standard and related regimes based directly or indirectly on gold convertibility
Transferring wealth and power from the old to the new world : monetary and fiscal institutions in the 17th through the 19th century ( Book )
19 editions published between 2001 and 2006 in English and held by 285 libraries worldwide
This is a collection of essays comparing the evolution of the fiscal and monetary regimes of the old world colonial powers: England, France, Spain, Portugal and the Netherlands from the 17th to the 19th century with the experiences of several of their former colonies in the New World of the Americas: the United States, Canada, Mexico, Colombia, Brazil, and Argentina. The objective is to see how such fiscal and monetary institutions were modified or replaced by new ones. The case studies in the collection consider the experience of the colonies after they became independent countries; they examine the factors that allowed efficient fiscal institutions to develop in some countries, while in others such development turned out to be unsuccessful; and they consider why some governments were able to live within their means and provide public goods, while for others expenditures often exceeded revenue, often leading to fiscal crises
Financial crises by Michael D Bordo( Book )
19 editions published in 1992 in English and held by 180 libraries worldwide
Credibility and the international monetary regime : a historical perspective by Michael D Bordo( Book )
17 editions published between 2011 and 2014 in English and held by 172 libraries worldwide
The present global monetary regime is based on floating among the major advanced countries. A key underlying factor behind the present regime is credibility to maintain stable monetary policies. The origin of credibility in monetary regimes goes back to the pre-1914 classical gold standard. In that regime, adherence by central banks to the rule of convertibility of national currencies in terms of a fixed weight of gold provided a nominal anchor to the price level. Between 1914 and the present several monetary regimes gradually moved away from gold, with varying success in maintaining price stability and credibility. In this book, the editors present ten studies combining historical narrative with econometrics that analyze the role of credibility in four monetary regimes, from the gold standard to the present managed float
The great inflation : the rebirth of modern central banking ( Book )
12 editions published in 2013 in English and held by 160 libraries worldwide
La 4e de couverture indique : "Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and '80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period's rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today's global and increasingly complex economic environment."
Strained relations : US foreign-exchange operations and monetary policy in the twentieth century by Michael D Bordo( Book )
10 editions published in 2015 in English and held by 155 libraries worldwide
Drawing on a trove of previously confidential data, Strained Relations reveals the evolution of US policy regarding currency market intervention, and its interaction with monetary policy. The authors consider how foreign-exchange intervention was affected by changing economic and institutional circumstances - most notably the abandonment of the international gold standard - and how political and bureaucratic factors affected this aspect of public policy
Anglo-American financial systems : institutions and markets in the twentieth century by Anglo-American Finance: Financial Markets and Institutions in 20th-Century North America and the U.K( Book )
7 editions published between 1995 and 1996 in English and held by 147 libraries worldwide
Theories of international trade by Adam Klug( Book )
17 editions published between 2004 and 2006 in English and held by 146 libraries worldwide
Presents the results of a survey into the different theories of international trade. The survey was conducted by the Israeli economic historian Klug before his untimely death in 2000
The origins, history, and future of the Federal Reserve : a return to Jekyll Island by Michael D Bordo( Book )
13 editions published between 2012 and 2013 in English and held by 145 libraries worldwide
"This book contains essays presented at a conference held in November 2010 to mark the centenary of the famous 1910 Jekyll Island meeting of leading American financiers and the U.S. Treasury. The 1910 meeting resulted in the Aldrich Plan, a precursor to the Federal Reserve Act that was enacted by Congress in 1913. The 2010 conference, sponsored by the Federal Reserve Bank of Atlanta and Rutgers University, featured assessments of the Fed's near 100-year track record by prominent economic historians and macroeconomists. The final chapter of the book records a panel discussion of Fed policy making by the current and former senior Federal Reserve officials. ch1: "To Establish a More Effective Supervision of Banking:" How the Birth of the Fed Altered Bank Supervision Abstract Although bank supervision under the National Banking System exercised a light hand and panics were frequent, depositor losses were minimal. Double liability induced shareholders to carefully monitor bank managers and voluntarily liquidate banks early if they appeared to be in trouble. Inducing more disclosure, marking assets to market, and ensuring prompt closure of insolvent national banks, the Comptroller of the Currency reinforced market discipline. The arrival of the Federal Reserve weakened this regime. Monetary policy decisions conflicted with the goal of financial stability and created moral hazard. The appearance of the Fed as an additional supervisor led to more "competition in laxity" among regulators and "regulatory arbitrage" by banks. When the Great Depression hit, policy-induced deflation and asset price volatility were misdiagnosed as failures of competition and market valuation. In response, the New Deal shifted to a regime of discretion-based supervision with forbearance"--
Lessons for EMU from the history of monetary unions by Michael D Bordo( Book )
8 editions published in 2000 in English and held by 134 libraries worldwide
Implications of the Great Depression for the development of the international monetary system by Michael D Bordo( Book )
21 editions published in 1997 in English and held by 101 libraries worldwide
In this paper we speculate about the evolution of the international monetary system in the last 2/3 of the 20th century absent the Great Depression but present the major post-Depression political and economic upheavals: WWII and II and the Cold War. We argue that without the Depression the gold-exchange standard of the 1920s would have persisted until the outbreak of WWI. It would have been suspended during the war and for a period of postwar reconstruction before being restored in the first half of the 1950s. The Bretton Woods Conference would not have taken place, and instead of a Bretton Woods System of pegged-but-adjustable exchange rates and restrictions on capital-account convertibility, an unreformed gold-exchange standard of pegged exchange rates and unlimited international capital mobility would have been restored. But this gold-exchange standard would have collapsed even earlier than actually was the case with Bretton Woods. The move toward floating exchange rates that followed would have taken place well before 1971 in our conterfactual We construct a model of the international monetary system from 1928-1971 and simulate its implications for the determination of the world price level and the durability of the hypothetical gold-exchange standard. We then examine, based on regressions for a 61-country panel, the implications for economic growth and resource allocation of allowing 1920s-style international capital mobility after World War II. Based on the implications of our model simula- tions and the capital controls regression we contemplate the implications for institution building and international cooperation of the o Great Depression' scenario
Money, sticky wages, and the Great Depression by Michael D Bordo( Book )
19 editions published in 1997 in English and held by 101 libraries worldwide
Abstract: This paper examines the ability of a simple stylized general equilibrium model that incorporates nominal wage rigidity to explain the magnitude and persistence of the Great Depression in the United States. The impulses to our analysis are money supply shocks. The Taylor contracts model is surprisingly successful in accounting for the behavior of major macroaggregates and real wages during the downturn phase of the Depression, i.e., from 1929:3 through mid-1933. Our analysis provides support for the hypothesis that a monetary contraction operating through a sticky wage channel played a significant role in accounting for the downturn, and also provides an interesting refinement to this explanation. In particular, both the absolute severity of the Depression's downturn and its relative severity compared to the 1920-21 recession are likely attributable to the price decline having a much larger unanticipated component during the Depression, as well as less flexible wage-setting practices during this latter period. Another finding casts doubt on explanations for the 1933-36 recovery that rely heavily on the substantial remonetization that began in 1933
Aggregate price shocks and financial instability : an historical analysis by Michael D Bordo( Book )
19 editions published between 2000 and 2001 in English and held by 85 libraries worldwide
This paper presents historical evidence on the relationship between aggregate price and financial stability. We construct an annual index of financial conditions for the United States covering 1790-1997, and estimate the effect of aggregate price shocks on the index using a dynamic ordered probit model. We find that price level shocks contributed to financial instability during 1790-1933, and that inflation rate shocks contributed to financial instability during 1980-97. Our research indicates that the size of the aggregate price shock needed to alter financial conditions substantially depends on the institutional environment, but that a monetary policy focused on price stability would be conducive to financial stability.--FRB of St. Louis web site
 
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Alternative Names
Bordo, M. D. 1942-
Bordo, Michael
Bordo, Michael 1942-
Bordo, Michael D.
Bordo, Michael David
Bordo, Michael David 1942-
Michael Bordo American economist
Michael Bordo US-amerikanisch-kanadischer Wirtschaftswissenschaftler
Languages
English (330)
Italian (2)
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