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Michael David BORDO

Michael David BORDO, economist in the field of Domestic Monetary and Financial Theory and Policy; Economic History; General; International Monetary Arrangements. Canada Council Doctoral Fellow, 1967-1969.

Background

  • BORDO, Michael David was born in 1942 in Montreal, Quebec, Canada.

  • Education

    • Bachelor of Arts McGill University, 1963. Master of Science London School of Economies and Political Science, London, United Kingdom, 1965. Doctor of Philosophy University Chicago, 1972.

    Career

    • Assistant Professor, Carleton University, Ottawa, 1969-1976. Research Association, National Bureau of Economie Research, New York, New York, United States of America, 1970. Academic Visiting, London School of Economies and Political Science, London, United Kingdom 1973, Haifa University, Israel, 1975.

      Visiting Assistant Professor, University of California, Los Angeles, Calif., United States of America, 1976. Association Professor, Carleton University, 1976-1981. Visiting Association Professor, Lund University, Sweden, 1977, University of California, Los Angeles, Calif., United States of America, 1980.

      Visiting Scholar, Federal Reserve Bank St Louis, 1981. Research Staff, Executive Director, United States Congressional Gold Commission, 1981-1982. Professor of Economics, College Business Administration, University S. Carolina, Columbia.

      South Carolina, United States of America, since 1981. Research Association, National Bureau of Economie Research, New York, New York, United States of America, since 1982. Editorial Board, Explorations Economics History, 1984.

    Major achievements

    • Canada Council Doctoral Fellow, 1967-1969.

    Views

    A dominant theme of much of my research over the past fifteen years has been the extension of the modern quantity theory of money to economic history. My early work, stemming from my dissertation at the University of Chicago, was to ascertain whether the first-round effects of monetary change Had a significant impact on nominal income. My interest in first-round effects has since led me to study the seminal works on the subject by Richard Cantillon in the eighteenth century and John Cairnes in the nineteenth, and to examine recent evidence for the United States, for the pattern of response of relative prices to monetary change predicted by the theories of these early writers. Since 1976,1 have collaborated with Anna J. Schwartz of the National Bureau of Economie Research, New York, New York, United States of America on a number of papers in monetary history.

    Our work includes a survey article in 1977 and two articles comparing, for the late nineteenth-century United States and United Kingdom, the modern quantity theory of inflation to that of the cost-push view. I have also been engaged in a project with Lars Jonung of Lund University examining the evidence for the past century for a number of countries on the determinants of the long-run behaviour of the income velocity of money, following the approach of Knut Wicksell. Recently I have been interested in the historical aspects of international monetary arrangements. This interest has led to a number of papers on the operation of the classical gold standard, a survey of the traditional approach to the classical gold standard, and the organisation with Anna J. Schwartz of an National Bureau of Economie Research, New York, New York, United States of America-sponsored conference on the classical gold standard.

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    Born 1942
    (age 75)