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.

August 2023 issue

Cover and contents

Modeling the Asymmetric Effects of an Oil Price Shock
Lance J. Bachmeier and Benjamin D. Keen

A New Measure of Central Bank Transparency and Implications for the Effectiveness of Monetary Policy
Miguel Acosta

How Do Regulators Set the Countercyclical Capital Buffer?
Bernhard Herz and Jochen Keller

Empirical Evidence on the Effectiveness of Capital Buffer Release
Vasja Sivec and Matjaž Volk

The Cost of Breaking an Exchange Rate Peg: Synthetic Control Estimation
Jae Hoon Choi and A. Christopher Limnios

Towards a Macroprudential Framework for Investment Funds: Swing Pricing and Investor Redemptions
Ulf Lewrick and Jochen Schanz

A Pitfall of Cautiousness in Monetary Policy
Stéphane Dupraz, Sophie Guilloux-Nefussi, and Adrian Penalver

Monetary Policy Implementation and Payment System Modernization
Jonathan Witmer

Tracing the Impact of the ECB's Asset Purchase Program on the Yield Curve
Fabian Eser, Wolfgang Lemke, Ken Nyholm, Sören Radde, and Andreea Liliana Vladu

A Comparison of Fed "Tightening" Episodes since the 1980s
Kevin L. Kliesen