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...

This paper investigates whether the funding behaviour of euro area debt management offices (DMOs) changed with the start of the ECB's Public Sector Purchase Programme (PSPP). Our results show that (i) lower yield levels and (ii) PSPP purchases supported higher maturities at issuance. The former...