Essays on Three Operational and Strategic Problems of Central Banks in a World of Low Interest Rates or with Interbank Market Frictions

This dissertation includes three essays, henceforward referred to as “papers”, on operational and strategic problems of central banks in a world of low interest rates or with interbank market frictions. The papers included in this dissertation are, in that order, “Controlling Friction-Induced Interbank Rate Volatility under Symmetric and Asymmetric Interest Corridor Systems”, co-authored with Ulrike Neyer, “Optimal Timing of Calling In Large-Denomination Banknotes under Natural Rate Uncertainty”, and “International Coordination and Optimal Timing of Calling In Large-Denomination Banknotes in a Two-Player Game”.