Workshop on Monetary and Financial History - June 24-27, 2013

Monday, June 24

1:45 p.m.

Introductory remarks


Session 1

"Even Keel and the Great Inflation" PDF icon (presentation) PDF icon
Owen Humpage, Federal Reserve Bank of Cleveland
Coauthor: Sanchita Mukherjee, University of California, Santa Cruz


Session 2

"Corporate Governance, Rent Seeking, Portfolio Choice, and Failure Risk at Unprotected Banks: National Banks in the 1890s" PDF icon (presentation) PDF icon
Mark Carlson, Board of Governors of the Federal Reserve System
Coauthor: Charles Calomiris, Columbia University

"Death of a Reserve Currency" (presentation) PPT icon
Stephen Quinn, Texas Christian University
Coauthor: William Roberds, Federal Reserve Bank of Atlanta

Tuesday, June 25 (at Emory University, Goizueta Business School, Boynton Auditorium)

9:00 a.m.

Session 3

"Banking Panics, the ‘Derangement of Domestic Exchanges and the Origins of Central Banking in the United States, 1893 to 1914" PDF icon
David Weiman, Barnard College, Columbia University
Coauthors: John James, University of Virginia, and Jamie McAndrews, Federal Reserve Bank of New York


Session 4

"Liquidity Provision during the Crisis of 1914: Private and Public Sources" PDF icon (presentation) PDF icon
Ellis Tallman, Oberlin College
Coauthor: Margaret M. Jacobson, Federal Reserve Bank of Cleveland

"Financing Capacity and Asset Liquidation Values: Evidence from Bank Failures" PDF icon
Raghuram Rajan, University of Chicago

12:30 p.m.



Session 5

"Transforming the NYSE: Crisis and Expansion during the Great War and Its Aftermath"
Caroline Fohlin, Emory University


Featured presentation (Hightower lecture)

"Mutual Assistance between Federal Reserve Banks as Prolegomena to the TARGET2 Debate in Europe"
Barry Eichengreen, University of California, Berkeley

Reception to follow

Wednesday, June 26

9:00 a.m.

Session 6

"Market Preferences for Risk Distributions: Evidence from Lottery Loans" (presentation) PDF icon
François Velde, Federal Reserve Bank of Chicago


Session 7

"Foreign Currency Debt, Devaluation and Recovery in the Great Depression" (presentation) PDF icon
Christopher Meissner, University of California, Davis
Coauthor: Michael Bordo, Rutgers University

"Shadowy Banks and the Interbank Amplifer During the Great Depression" PDF icon (presentation) PPT icon
Kris Mitchener, Santa Clara University
Coauthor: Gary Richardson, Federal Reserve Bank of Richmond

12:30 p.m.



Session 8

"Bloody Foreigners! Overseas Equity on the London Stock Exchange, 1870–1913" PDF icon (presentation) PPT icon
Richard Grossman, Wesleyan University

"Some Issues in Early U.S. Monetary History" (presentation) PPT icon
Richard Sylla, New York University
Coauthor: Peter Rousseau, Vanderbilt University


Session 9

"The Failures That Ignited America's Financial Panics: A Clinical Survey" PDF icon (presentation) PPT icon
Hugh Rockoff, Rutgers University

5:30 p.m.

Reception and Dinner

Remarks by Michael Bordo, Rutgers University

Thursday, June 27

9:00 a.m.

Session 10

"Contagion During the Initial Banking Panic of the Great Depression: November and December, 1930" PDF icon (presentation) PDF icon
Gary Richardson, Federal Reserve Bank of Richmond
Coauthors: Erik Heitfield, Board of Governors of the Federal Reserve System, and Shirley Wang, Cornell University


Session 11

"Pulling up the Tarnished Anchor: The End of Silver as a Global Unit of Account" PDF icon (presentation) PDF icon
Ricardo Fernholz, Claremont McKenna College
Coauthors: Marc Weidenmier, Claremont McKenna College, and Kris Mitchener, Santa Clara University

"Can Moral Hazard Be Avoided? The Banque de France and the Crisis of 1889" PDF icon (presentation) PPT icon
Eugene White, Rutgers University

12:30 p.m.