Marc D Weidenmier
Datos Biográficos
| ID | 1106607 |
|---|---|
| NOMBRE | Marc D Weidenmier |
| NOMBRES | Marc D |
| APELLIDO | Weidenmier |
| FIRMA | WEIDENMIER M D |
| VERIFICADO | No |
| TOTAL DE OBRAS | 8 |
| TOTAL DE CITAS | 53 |
| TOTAL COMO AUTOR | 8 |
| TOTAL COMO EDITOR | 0 |
| PRIMER AÑO DE PUBLICACIÓN | 2000 |
| AÑO MÁS RECIENTE DE PUBLICACIÓN | 2023 |
| ÍNDICE H | 4 |
Stock returns and the Spanish flu, 1918–1920
America's First Great Moderation
We identify the longest expansion in U.S. history, a recession-free 16-year period from 1841 to 1856 that we call America's First Great Moderation. Using newer data on industrial production, we show that the record-long expansion was primarily driven by a boom in transportation-goods investment following the discovery of gold in California. Furthermore, the low volatility of industrial production and stock returns during the First Great Moderatio…
Was the Classical Gold Standard Credible on the Periphery? Evidence from Currency Risk
We use a standard metric from international finance, the currency risk premium, to assess the credibility of fixed exchange rates during the classical gold standard era. Theory suggests that a completely credible and permanent commitment to join the gold standard would have zero currency risk or no expectation of devaluation. We find that, even five years after a typical emerging-market country joined the gold standard, the currency risk premium …
Why did Countries Adopt the Gold Standard? Lessons from Japan
Why did policymakers adopt the gold standard? We first examine the political economy of Japan's adoption of the gold standard in 1897 by exploring the ex ante motives of policymakers as well as how the legislative decision to adopt gold won approval. We then show that joining the gold standard did not reduce Japanese interest rates or lead to a domestic investment boom. However, we find that membership in the gold standard increased Japan's expor…
The Baring Crisis and the Great Latin American Meltdown of the 1890s
The Baring Crisis is the nineteenth century's most famous sovereign debt crisis. Using a database of more than 15,000 observations, we assess its effect on emerging market borrowers and find empirical evidence of a regional crisis but not a global crisis. During the crisis, Latin American yield spreads increased by more than 200 basis points relative to the rest of the world, even after controlling for macroeconomic, trade, political-institutiona…
Covered Interest Arbitrage
We introduce a new weekly database of spot and forward US–UK exchange rates and interest rates to examine the integration of forward exchange markets during the classical Gold Standard period (1880–1914). Using threshold autoregressions (TARs), we estimate the transaction cost band of covered interest differentials (CIDs) and compare our results with studies of more recent periods. We find that CIDs for the US–UK rate were generally largest durin…
Real Shock, Monetary Aftershock
In April 1906 the San Francisco earthquake and fire caused damage equal to more than 1 percent of GNP. Although the real effect of this shock was localized, it had an international financial impact: large amounts of gold flowed into the country in autumn 1906 as foreign insurers paid claims on their San Francisco policies out of home funds. This outflow prompted the Bank of England to discriminate against American finance bills and, along with ot…
The Market for Confederate Cotton Bonds
Real Shock, Monetary Aftershock
In April 1906 the San Francisco earthquake and fire caused damage equal to more than 1 percent of GNP. Although the real effect of this shock was localized, it had an international financial impact: large amounts of gold flowed into the country in autumn 1906 as foreign insurers paid claims on their San Francisco policies out of home funds. This outflow prompted the Bank of England to discriminate against American finance bills and, along with ot…
The Baring Crisis and the Great Latin American Meltdown of the 1890s
The Baring Crisis is the nineteenth century's most famous sovereign debt crisis. Using a database of more than 15,000 observations, we assess its effect on emerging market borrowers and find empirical evidence of a regional crisis but not a global crisis. During the crisis, Latin American yield spreads increased by more than 200 basis points relative to the rest of the world, even after controlling for macroeconomic, trade, political-institutiona…
Was the Classical Gold Standard Credible on the Periphery? Evidence from Currency Risk
We use a standard metric from international finance, the currency risk premium, to assess the credibility of fixed exchange rates during the classical gold standard era. Theory suggests that a completely credible and permanent commitment to join the gold standard would have zero currency risk or no expectation of devaluation. We find that, even five years after a typical emerging-market country joined the gold standard, the currency risk premium …
Why did Countries Adopt the Gold Standard? Lessons from Japan
Why did policymakers adopt the gold standard? We first examine the political economy of Japan's adoption of the gold standard in 1897 by exploring the ex ante motives of policymakers as well as how the legislative decision to adopt gold won approval. We then show that joining the gold standard did not reduce Japanese interest rates or lead to a domestic investment boom. However, we find that membership in the gold standard increased Japan's expor…
America's First Great Moderation
We identify the longest expansion in U.S. history, a recession-free 16-year period from 1841 to 1856 that we call America's First Great Moderation. Using newer data on industrial production, we show that the record-long expansion was primarily driven by a boom in transportation-goods investment following the discovery of gold in California. Furthermore, the low volatility of industrial production and stock returns during the First Great Moderatio…
The Market for Confederate Cotton Bonds
The Market for Confederate Cotton Bonds
Real Shock, Monetary Aftershock
In April 1906 the San Francisco earthquake and fire caused damage equal to more than 1 percent of GNP. Although the real effect of this shock was localized, it had an international financial impact: large amounts of gold flowed into the country in autumn 1906 as foreign insurers paid claims on their San Francisco policies out of home funds. This outflow prompted the Bank of England to discriminate against American finance bills and, along with ot…
Covered Interest Arbitrage
We introduce a new weekly database of spot and forward US–UK exchange rates and interest rates to examine the integration of forward exchange markets during the classical Gold Standard period (1880–1914). Using threshold autoregressions (TARs), we estimate the transaction cost band of covered interest differentials (CIDs) and compare our results with studies of more recent periods. We find that CIDs for the US–UK rate were generally largest durin…
The Baring Crisis and the Great Latin American Meltdown of the 1890s
The Baring Crisis is the nineteenth century's most famous sovereign debt crisis. Using a database of more than 15,000 observations, we assess its effect on emerging market borrowers and find empirical evidence of a regional crisis but not a global crisis. During the crisis, Latin American yield spreads increased by more than 200 basis points relative to the rest of the world, even after controlling for macroeconomic, trade, political-institutiona…
Why did Countries Adopt the Gold Standard? Lessons from Japan
Why did policymakers adopt the gold standard? We first examine the political economy of Japan's adoption of the gold standard in 1897 by exploring the ex ante motives of policymakers as well as how the legislative decision to adopt gold won approval. We then show that joining the gold standard did not reduce Japanese interest rates or lead to a domestic investment boom. However, we find that membership in the gold standard increased Japan's expor…
Was the Classical Gold Standard Credible on the Periphery? Evidence from Currency Risk
We use a standard metric from international finance, the currency risk premium, to assess the credibility of fixed exchange rates during the classical gold standard era. Theory suggests that a completely credible and permanent commitment to join the gold standard would have zero currency risk or no expectation of devaluation. We find that, even five years after a typical emerging-market country joined the gold standard, the currency risk premium …
America's First Great Moderation
We identify the longest expansion in U.S. history, a recession-free 16-year period from 1841 to 1856 that we call America's First Great Moderation. Using newer data on industrial production, we show that the record-long expansion was primarily driven by a boom in transportation-goods investment following the discovery of gold in California. Furthermore, the low volatility of industrial production and stock returns during the First Great Moderatio…
Stock returns and the Spanish flu, 1918–1920
Economics (8 obras) · Monetary economics (6 obras) · Finance (5 obras) · Finance (5 obras) · Market Dynamics and Volatility (5 obras) · Business (3 obras) · Debt (3 obras) · Financial economics (3 obras) · Global Financial Crisis and Policies (3 obras) · Macroeconomics (3 obras)