Collateral Frameworks: The Open Secret of Central Banks, Cambridge University Press.
Available in: CUP, Amazon UK, Amazon DE, Amazon US, BookDepository, and in English bookshops.
The book unpacks the opaque structure at the heart of central banking, the money creation process, and monetary policy — namely central banks’ collateral frameworks. The book covers collateral policy in the euro area in detail and sheds new light on central banking, the architecture and politics of money, and the euro crisis.
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The following paper provides a summary of about two-thirds of the book and lays out some of the underlying ideas.
“Central Bank Collateral Frameworks“, 2015, working paper University of Zurich, and Swiss Finance Institute (10).
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Cambridge University Press:
Book page,
Blog “FifteenEightyFour“
