The global financial crisis that began in mid-2007 has renewedconcerns about financial instability and focused attention onthe fundamental role of central banks in preventing andmanaging systemic crises. In response to the turmoil, centralbanks have made extensive use of both new and existing...

In this paper, we assess the effects of changes to the primarycredit facility since August 2007 by performing out-of-samplesimulations based on a model developed by Artuç andDemiralp (2008). Our results are highly consistent with thepredictions of our 2008 study—that is, the revised...

This article investigates the factors influencing the timingand funding of payments in the CHAPS Sterling system,drawing where appropriate on comparisons with paymentactivity in Fedwire...

This paper uses recently digitised samples of apprentices and masters in London and Bristol to quantify the practice of apprenticeship in the late 17th century. Apprenticeship appears much more fluid than is traditionally understood. Many apprentices did not complete their terms of indenture;...

This paper studies the way workers and firms behaved in a highly cyclical sector such as the cotton textile industry, which encompassed 1/5 of the Catalan industrial workforce in the early 20th century. Using firm level evidence from the late 19th and early 20th centuries, the paper shows that,...