The European Central Bank (ECB) took many measures to combat the eurozone’s rolling financial crisis. For providing … desperately scarce dollars to eurozone banks, the ECB relied on the U.S. Federal Reserve. Using a novel econometric framework, we … October 2009 and September 2012, the most intense phase of the eurozone crisis. Dollar liquidity clearly reduced stress in …

Central banks unexpectedly tightening policy rates often observe the exchange value of their currency depreciate … that the central bank is signaling by its policy may explain the abnormality. It turns out that many informational …

This paper examines how managers at the top of a public institution, central bank executives, allocate their working … time. Using detailed information from personal diaries of the six members of the European Central Bank’s Executive Board … central bankers is dominated by routine tasks; variations in economic uncertainty have, on average, no significant effect on …

This paper shows that the eurozone payment system does not effectively protect member states from speculative attacks …. Suspicion of a departure from the common currency induces a terminal outflow of central bank money in weaker member states …. TARGET2 cannot inhibit this drain but only protects central bank assets. Evidence presented here suggests that a run on Italy …

of euro area central banks are identified. It is found that differing fiscal policy stances which have interacted …

sustainability and the Eurosystem can take its proper role as a central bank …