#2008-012A "Inflation, Monetary Policy and Stock Market Conditions"
by Michael D. Bordo, Michael J. Dueker, and David C. Wheelock
May 2008

This paper examines the association between inflation, monetary policy and U.S. stock market conditions during the second half of the 20th century. More...

#2007-020A "Monetary Policy and Stock Market Booms and Busts in the 20th Century"
by Michael D. Bordo, Michael J. Dueker, and David C. Wheelock
May 2007

This paper examines the association between monetary policy and stock market booms and busts in the United States, United Kingdom, and Germany during the 20th century. More...

#2006-051A "When Do Stock Market Booms Occur? The Macroeconomic and Policy Environments of 20th Century Booms"
by Michael D. Bordo, and David C. Wheelock
September 2006

This paper studies the macroeconomic conditions and policy environments under which stock market booms occurred among ten developed countries during the 20th Century. More...

FORTHCOMING: in Jeremy Atack, ed., The Origins and Development of Financial Markets and Institutions, Cambridge University Press

#2003-014D "Gold, Fiat Money and Price Stability"
by Michael D. Bordo, Robert Dittmar, and William T. Gavin
June 2003
Revised May 2007

The classical gold standard has long been associated with long-run price stability. But short-run price variability led critics of the gold standard to propose reforms that look much like modern versions of price path targeting. More...

PUBLISHED: B.E. Journals, Topics in Macroeconomics, 2007, 7(1), Article 26

#2001-018A "Aggregate Price Shocks and Financial Stability: The United Kingdom 1796-1999"
by Michael D. Bordo, Michael J. Dueker, and David C. Wheelock
October 2001

This paper investigates the impact historically of aggregate price shocks on financial stability in the United Kingdom. We construct an annual index of U.K. financial conditions for 1790-1999 and use a dynamic probit model to estimate the effect of aggregate price shocks on the index. More...

PUBLISHED: Explorations in Economic History, April 2003, 40(2), pp. 143-69

#2000-005B "Aggregate Price Shocks and Financial Instability: A Historical Analysis"
by Michael D. Bordo, Michael J. Dueker, and David C. Wheelock

Revised September 2001

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. More...

PUBLISHED: Economic Inquiry, October 2002, 40(4), pp. 521-38