These two volumes were written on the occasion of the fiftieth anniversary of the founding of the Bank of Israel. They recount the monetary history of Israel from 1948, when the country was established (and before) to the present day. Volume I retells Israel's monetary history, analyzes the...

This paper analyzes the evolution of money and monetary institutions in the context of the functional aspects of money. The different monetary standards in history are discussed in terms of the interplay of economic and political motives. The institutions supporting the existence, evolution and...

Federal Reserve Banks are private corporations with boards of directors and one-third of the seats on each board are held by bankers. We investigate whether these directorships create value for banks elected between 1986 and 2013 and through what channels. The announcement of a banker's...

Nearly 30% of US banks employ at least one board member who currently serves (or has previously served) the Federal Reserve in a public service role. Public service roles take the form of Federal Reserve directorships or memberships in Federal Reserve advisory councils. We show that connections...