Central Banking in Historical Perspective: One Hundred Years of the Federal Reserve


Thursday, March 6, 2014 – Friday, March 7, 2014

This conference explored the history of the Federal Reserve and central banking around the world during the last century. Among the various topics discussed were the impact and evolution of monetary policy, the successes and failures of central banks as regulators of financial institutions, and the influence of international events on the Federal Reserve.

Day 1 Agenda

"Can Moral Hazard Be Avoided? The Banque de France and the Crisis of 1889”
Presented by Eugene White, Rutgers
Discussed by William Roberds, Federal Reserve Bank of Atlanta

“Inflation Expectations and Recovery From the Depression: Evidence from the Narrative Record”
Presented by Andy Jaili, Occidental College
Discussed by Carola Conces Binder, UCB

"The Fed, the Treasury, and the Liberty Bond Campaign– How William Gibbs McAdoo Won World War I"
Presented by Richard Sutch, UCR & UCB
Discussed by Caroline Fohlin, Emory University

"Sample Selection & Treatment Effect Estimation of Lender of Last Policies"

Presented by Angela Vossmeyer, UCI
Discussed by Joseph Mason, Louisiana State University

“Death of a Reserve Currency”
Presented by Stephen Quinn, Texas Christian University
Discussed by Angela Redish, University of British Columbia

"Lessons from the Historical Use of Reserve Requirements in the United States to Promote Bank Liquidity"
Presented by Mark Carlson, Fed. Board
Discussed by Galina Hale, Federal Reserve Bank of San Francisco

Day 2 Agenda

“Local Banking Panics of the 1920s: Identification and Determinants”
Presented by Carlos Ramirez, George Mason
Discussed by Gary Richardson, UCI

"Internal Capital Markets in the Great Depression"
Presented by Nicolas L. Ziebarth, Iowa
Discussed by Martha Olney, UCB

“Shadowy Banks and the Interbank Amplifier During the Great Depression"
Presented by Kris Mitchener, University of Warwick
Discussed by David Wheelock, Federal Reserve Bank of St. Louis

"Sovereigns versus Banks: Credit, Crises, and Consequences"
Presented by Oscar Jorda, UCD
Discussed by Barry Eichengreen, UCB

“Did the Reserve Requirement Increases of 1936-1937 Reduce Bank Lending? Evidence from a Natural Experiment”

Presented by Patrick Can Horn, Southwest University
Discussed by Lucus Puente, Stanford

"Did Doubling Reserve Requirements Cause the Recession of 1937-1938? A Microeconomic Approach”
Presented by Joesph Mason, Louisiana State
Discussed by Jeremie Cohen-Setton, UCB