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.

March 2022 issue

Cover and contents

Does Policy Communication during COVID Work?
Olivier Coibion, Yuriy Gorodnichenko and Michael Weber

Monetary Policy and COVID-19
Michal Brzoza-Brzezina, Marcin Kolasa and Krzysztof Makarski

Central Bank Independence and Systemic Risk
Alin Marius Andries, Anca Maria Podpiera and Nicu Sprincean

Optimal Credit, Monetary, and Fiscal Policy under Occasional Financial Frictions and the Zero Lower Bound
Shifu Jiang

The Role of Expectations in Changed Inflation Dynamics
Damjan Pfajfar and John M. Roberts

Exchange Rate Shocks and Inflation Co-movement in the Euro Area
Danilo Leiva-Leon, Jaime Martinez-Martin, and Eva Ortega

Applying Lessons from the Past? Exploring Historical Analogies in ECB Speeches through Text Mining, 1997–2019
Anselm Küsters

Trends in Monetary Policy Transparency: Further Updates
Nergiz Dincer, Barry Eichengreen, and Petra Geraats