Home > Publications . Search All . Browse All . Country . Browse PSC Pubs . PSC Report Series

PSC In The News

RSS Feed icon

Work by Geronimus cited in account of Serena Williams' maternal health complications

Alexander and Massey compare outcomes for children whose parents did and did not take part in Great Migration

Geronimus on pushing past early dismissal of her weathering hypothesis

More News

Highlights

AA named 2018 Best Place to Live in America (out of 100 cities)

Remembering Jim Morgan, founding member of ISR and creator of the PSID

1/17/18: ISR screening and discussion of documentary "Class Divide" at Michigan Theater

Bailey et al. find higher income among children whose parents had access to federal family planning programs in the 1960s and 70s

More Highlights

Next Brown Bag

Mon, Jan 22, 2018, noon: Narayan Sastry

Harvests and Financial Crises in Gold Standard America

Publication Abstract

Hanes, C., and Paul W. Rhode. 2013. "Harvests and Financial Crises in Gold Standard America." Journal of Economic History, 73(1): 201-246.

Most American financial crises of the postbellum gold standard era were caused by fluctuations in the cotton harvest due to exogenous factors such as weather. The transmission channel ran through export revenues and financial markets under the pre-1914 monetary regime. A poor cotton harvest depressed export revenues and reduced international demand for American assets, which depressed American stock prices, drained deposits from money center banks and precipitated a business cycle downturn-conditions that bred financial crises. The crises caused by cotton harvests could have been prevented by an American central bank, even under gold standard constraints.

DOI:10.1017/s0022050713000077 (Full Text)

Browse | Search : All Pubs | Next