Browsing Norges Banks vitenarkiv by Author "Bordo, Michael D."
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An historical perspective on financial stability and monetary policy regimes : A case for caution in central banks current obsession with financial stability
Bordo, Michael D. (Working papers;5/2018, Working paper, 2018)The global financial crisis (GFC) of 2007-2008 led to a call for central banks to elevate their financial stability mandate to the same level as their price stability mandate. It also led to a call for central banks to use ... -
The Promise and Performance of the Federal Reserve as Lender of Last Resort 1914-1933
Bordo, Michael D.; Wheelock, David C. (Working Papers;1/2011, Working paper, 2011)This paper examines the origins and early performance of the Federal Reserve as lender of last resort. The Fed was established to overcome the problems of the National Banking era, in particular an “inelastic” currency and ... -
What Is a Useful Central Bank?
Aziz, Zeti Akhtar; Bordo, Michael D.; Fischer, Stanley; Gjedrem, Svein; Hildebrand, Philipp M.; Ingves, Stefan; Qvigstad, Jan F.; Svensson, Lars E. O.; Toniolo, Gianni; Turner, Philip (Occasional Papers;42, Book, 2011)