We analyze the impact of financial crises and monetary policy on the supply of wholesale funding liquidity, and also on the compositional supply effects through cross-border and relationship lending. For empirical identification, we draw on the proprietary bank-to-bank European interbank dataset...

Chapter 1. Introduction -- Chapter 2. From War Financier to Bankers’ Bank -- Chapter 3. Central Banks under the Gold Standard -- Chapter 4. The Federal Reserve: A Unique Institution -- Chapter 5. From War to War: 1914-1939 -- Chapter 6. Post-war Progress: 1946-1960 -- Chapter 7. The 1960s:...

Central banks are major players in today's economic and financial policy making. While respected for their technical acumen and their pivotal role in defusing the global financial crisis, they are at the same time mistrusted by others and considered to be too powerful. In order to contribute to...

Im Herzen der Krise, die Europa derzeit zu zerreissen droht, steht ein Paradox. Nicht die Kluft zwischen den wirtschaftlich starken Ländern des Nordens und den laxen Ökonomien des Südens oder die Einwanderung treiben die Spaltung voran, sondern - absurd genug - die gemeinsame Währung, der...