This volume presents the results of a multi-team, multi-disciplinary research project that was inspired by the bicentennial of the Norges Bank, the Norwegian Central Bank. In the summer of 2012, the editors commissioned a broad range of research from fourteen teams of coauthors. The researchers included renowned international academics as well as policymaking experts. Representatives of all teams presented initial drafts of their research at a conference in Geneva in April 2013 at the Graduate Institute of International and Development Studies. After receiving comments and revising, the authors presented again in June 2014 at a Norges Bank conference titled Of the Uses of Central Banks: Lessons from History. The authors revised their papers once again, to accommodate comments by discussants and editors, and submitted final drafts for publication the following March.
• Chapter 3. “Central Bank Credibility: An Historical and Quantitative Exploration” by Michael D. Bordo and Pierre L. Siklos.
• Chapter 4. “The Coevolution of Money Markets and Monetary Policy, 1815-2008” by Clemens Jobst and Stefano Ugolini.
• Chapter 5. “Central Bank Independence in Small Open Economies” by Forrest Capie, Geoffrey Wood, and Juan Castañeda.
• Chapter 6. “Fighting the Last War: Economists on the Lender of Last Resort” by Richard S. Grossman and Hugh Rockoff.
• Chapter 8. “Central Banks and the Stability of the International Monetary Regime” by Catherine Schenk and Tobias Straumann.
• Chapter 9. “The International Monetary and Financial System: A Capital Account Historical Perspective” by Claudio Borio, Harold James and Hyun Song Shin.
• Chapter 10. “Central Banking: Perspectives from Emerging Economies” by Menzie D. Chinn.
• Chapter 12. “Bubbles and Central Banks: Historical Perspectives” by Markus K. Brunnermeier and Isabel Schnabel.
• Chapter 13. “Central Banks and Payment Systems: The Evolving Trade-off between Cost and Risk” by Charles Kahn, Stephen Quinn and Will Roberds.
• Chapter 15. “The Evolution of Central Banks: A Practitioner\’s Perspective” by Andrew G. Haldane and Jan F. Qvigstad.
Gary Richardson is the author of “Monetary Intervention Mitigated Banking Panics during the Great Depression: Quasi-Experimental Evidence from a Federal Reserve
District Border, 1929-1933,” Journal of Political Economy (2009). He was the editor for the Federal Reserve’s historical website, which can be found at www.federalreservehistory.org.