Fiscal and financial crises by Michael D. Bordo and Christopher M. Meissner published by NBER (3/2016). “Interconnections between banking crises and fiscal crises have a long history. We document the long-run evolution from classic banking panics towards modern banking…
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Lessons from History (Bordo, Markiewicz and Jonung)
set 23, 2011, 3:16 PM 0
A fiscal union for the Euro: Some lessons from history by Michael D. Bordo, Agnieszka Markiewicz and Lars Jonung, published by NBER. “The aim of this study is to identify the characteristics of a robust common fiscal policy framework…
In this paper, Michael Bordo provides an historical perspective on the crisis of 2007-2008. Examples include the crises of 1857, 1893 1907 and 1929-33. For him, this crisis has many similarities to those of the past but also some…