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.

December 2022 issue

Cover and contents

Sovereign Debt Holding and Bank Sensivity toward Market Risk: An Alternative View of the Bank-Sovereign Problem
Aneta Hryckiewicz, Petra Pawlowski, Piotr Michal Mazur and Marcin Borsuk

Deleverage and Defaults in the United Kingdom
Mario Lupoli 

The Link between Monetary Policy, Stock Prices, and House Prices - Evidence from a Statistical Indentification Approach
Helmut Herwartz, Simone Maxand and Hannes Rohloff 

The Immediate Impact and Persistent Effect of FX Purchases on the Exchange Rate
Itamar Caspi, Amit Friedman and Sigal Ribon 
Online appendix

The Impact of Capital Requirements on the Macroeconomy: Lessons from Four Macroeconomic Models of the Euro Area
Matthieu Darracq Pariès, Peter Karadi, Christoffer Kok and Kalin Nikolov 

Financial Stability Committees and the Basel III Countercyclical Capital Buffer
Rochelle M. Edge and J. Nellie Liang 

Behind the Scenes of the Beauty Contest - Window Dressing and the G-SIB Framework
Markus Behn, Giacomo Mangiante, Laura Parisi and Michael Wedow

Deciphering the Macroeconomic Effects of Internal Devaluations in a Monetary Union
Javier Andrés, Óscar Arce, Jesús Fernández-Villaverde and Samuel Hurtadod
Online appendix