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A Comparison of the United States and Canadian Banking Systems in the Twentieth Century : Stability vs. Efficiency?

Bordo, Michael D.; Rockoff, Hugh; Redish, Angela - 2021

were generally higher in Canada; (2) interest income received on securities was generally slightly higher in Canada; (3 …) interest rates charged on loans were generally quite similar; (4) net rates of return to equity were generally higher in Canada …

Persistent link: https://www.econbiz.de/10013224945

How "Original Sin" Was Overcome : The Evolution of External Debt Denominated in Domestic Currencies in the United States and the British Dominions

Bordo, Michael D.; Meissner, Christopher M.; Redish, Angela - 2021

several former colonies of Great Britain: the United States, Canada, Australia, New Zealand and South Africa. We trace out …

Persistent link: https://www.econbiz.de/10013313637

Canada's Pioneering Experience with a Flexible Exchange Rate in the 1950s : (Hard) Lessons Learned for Monetary Policy in a Small Open Economy

Bordo, Michael D. - 2010

This paper revisits Canada's pioneering experience with floating exchange rate over the period 1950-1962. It examines … whether the floating rate was the best option for Canada in the 1950s by developing and estimating a New Keynesian small open … that monetary policy was more volatile in the post-1957 period and Canada's macroeconomic performance suffered as a result …

Persistent link: https://www.econbiz.de/10012759691

Central Bank Credibility, Reputation and Inflation Targeting in Historical Perspective

Bordo, Michael D. - 2014

This paper examines the historical evolution of central bank credibility using both historical narrative and empirics for a group of 16 countries, both advanced and emerging. It shows how the evolution of credibility has gone through a pendulum where credibility was high under the classical gold...

Persistent link: https://www.econbiz.de/10013043621

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/10013030622

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/10012947026

Growing Up to Stability? Financial Globalization, Financial Development and Financial Crises

Bordo, Michael D. - 2015

kinds of financial crises for four countries (Argentina, Australia, Canada, and the United States) over the long-run …

Persistent link: https://www.econbiz.de/10013020714

David Laidler on Monetarism

Bordo, Michael D. - 2007

David Laidler has been a major player in the development of the monetarist tradition. As the monetarist approach lost influence on policy makers he kept defending the importance of many of its principles. In this paper we survey and assess the impact on monetary economics of Laidler's work on...

Persistent link: https://www.econbiz.de/10012778254

Why Didn't Canada Have a Banking Crisis in 2008 (or in 1930, or 1907, or ...)?

Bordo, Michael D. - 2011

The financial crisis of 2008 engulfed the banking system of the United States and many large European countries. Canada …

Persistent link: https://www.econbiz.de/10013121071

The Common Development of Institutional Change as Measured by Income Velocity : A Century of Evidence from Industrialized Countries

Bordo, Michael D.; Siklos, Pierre L.; Jonung, Lars - 2022

countries considered are Canada, the U.S., the U.K.. Norway. and Sweden. We are relying on a sample of annual observations from … Canada. and separately, for Norway and Sweden. Finally. we find that only a model which includes institutional change proxies …

Persistent link: https://www.econbiz.de/10013310559