International Journal of Central Banking (IJCB)

The International Journal of Central Banking (IJCB) is an initiative of the central banking community.

Published quarterly, the journal features articles on central bank theory and practice, with a special emphasis on research relating to monetary and financial stability. The main objectives of the International Journal of Central Banking are:

  • to disseminate widely the best policy-relevant and applied research that reflects the missions of central banks around the world across a range of disciplines; and
  • to promote communication amongst researchers both inside and outside of central banks.

June 2018 issue

Cover and contents

Introduction

Opening Remarks
  by Jiří Rusnok

Fiscal Consolidation in a Low-Inflation Environment: Pay Cuts versus Lost Jobs
   by Guilherme Bandeira, Evi Pappa, Rana Sajedi, and Eugenia Vella
Discussion
  by Antonella Trigari

Labor Tax Reforms, Cross-Country Coordination, and the Monetary Policy Stance in the Euro Area: A Structural Model-Based Approach
   by Pascal Jacquinot, Matija Lozej, and Massimiliano Pisano
Discussion
  by Raf Wouters

Monetary and Fiscal Policy Interactions and the Labor Market
   by Frank Smets

Tracking monetary-Fiscal interactions across Tie and Space
   by Michal Franta, Jan Libich, and Petr Stehlík
Discussion
  by Troy Davig

Should the ECB Coordinate EMU Fiscal Policies?
   by Tatiana Kirsanova, Celsa Machado, and Ana Paula Ribeiro
   Online appendix
Discussion
  by Paolo A. Pesenti

Sovereign Default and Monetary Policy Tradeoffs
   by Huixin Bi, Eric M. Leeper, and Campbell Leith
Discussion
  by Ricardo Reis

Pitfalls of Coordination?
   by Sergey Slobodyan

Welfare Effects of Tax Policy in Open Economies: Stabilization and Cooperation
   by Jinill Kim and Sunghyun Kim
Discussion
  by James M. Nason

Optimal Monetary Policy and Fiscal Policy Interaction in Non-Ricardian Economy
   by Massimiliano Rigon and Francesco Zanetti
Discussion
  by Johannes Wieland

Independent Central Banks and the Interplay between Monetary and Fiscal Policy
   by Athanasios Orphanides