Money, History and Finance

Coordinators:
Fall 2017 - Michael Bordo
Spring 2018 - Hugh Rockoff

  • The seminar meets on Mondays from 2:30-4:00 in New Jersey Hall Room 101, unless
    specified otherwise.
  • All members of the University Community, especially graduate students, are welcome.
  • Papers can downloaded from the Department's website when available in advance.
  • Schedule of Dates and Speakers may change.

See all Money, History, and Finance Workshops in the calendar


Spring 2018

February 12  (*Note change in room to NJ Hall 3rd Floor Library)
Jeffrey Lacker, Former President Federal Reserve Bank of Richmond
  "From “Real Bills” to “Too Big to Fail”: H. Parker Willis and the Federal Reserve’s First Century"


February 26
Leticia Arroyo Abad, Middlebury College
"The Long Shadow of History? The Impact of Colonial Labor Institutions on Economic Development in Peru"
co-authored with Noel Maurer (George Washington University).


March 5
Geoffrey Clarke, Rutgers University (Graduate Student)
"Do African American Banks Help Economic Growth? Evidence from 1910-40"


March 19
Christopher Hanes, SUNY Binghamton
"Wage Inflation in the Recovery from the Great Depression"


March 26
Lisa Cook, Michigan State University


April 9
Anne Hanley, Northern Illinois University


May 18
Stefano Ungaro, Paris School of Economics



Fall 2017

October 9
Michael Bordo, Rutgers University
  “An Historical Perspective on the Quest for Financial Stability and the Monetary Policy Regime”


October 16
Mark Carlson, Federal Reserve Board
““Unconventional” Monetary Policy as Conventional Monetary Policy: A perspective from the U.S. in the 1920s”

Abstract: To implement monetary policy in the 1920s, the Federal Reserve utilized administered interest rates and conducted open market operations in both government securities and private money market securities, sometimes in fairly considerable amounts. We show how the Fed was able to effectively use these tools to influence conditions in money markets, even those in which it was not an active participant. We also provide evidence that the changes in money market conditions resulting from changes in monetary policy affected the issuance of money market securities. These results point to a channel through which monetary policy was transmitted to the rest of the economy. The tools used in the 1920s by the Federal Reserve resemble the extraordinary monetary policy tools used by central banks recently and provide further evidence on their effectiveness even in ordinary times.


October 23
Warren Weber, Atlanta Federal Reserve
  "Swedish Riksbank Notes and Enskilda Bank Notes: Lessons for Digital Currencies"


October 30
Germán Forero Laverde, Universidad Externado de Colombia / Universitat de Barcelona
  "Do the rules of the game matter? Exchange Rate Regimes and the Financial Cycle (1922-2015)"


November 6
Marc Flandreau, University of Pennsylvania
"Nineteenth Century Absolute Sovereign Immunity Redux: The Role of Financial Engineering"


November 13
Gavin Wright, Stanford University
  "World War II, the Cold War, and the Knowledge Economies of the Pacific Coast"


November 20
Antoine Parent, Lyon, France
  “Liquidity Trap and The 1929 Financial Crisis”


November 27
Ellis Tallman, Cleveland Federal Reserve
  "Monetary Policy When One size Does Not Fit All: Federal Reserve Banks and the Recession of 1920-1921"


December 4
William Roberds, Atlanta Federal Reserve
  "An Early Experiment with "Permazero"