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 2021 issue

Broadening Narrow Money: Monetary Policy with a Central Bank Digital Currency
by Jack Meaning, Ben Dyson, James Barker, and Emily Clayton

Population Aging and the Macroeconomy
by Noëmie Lisack, Rana Sajedi, and Gregory Thwaites
Online appendix

Central Bank Communication and Disagreement about the Natural Rate Hypothesis
by Carola Conces Binder

What Does "Below, but Close to, 2 Percent" Mean? Assessing the ECB's Reaction Function with Real-Time Data
by Maritta Paloviita, Markus Haavio, Pirkka Jalasjoki, and Juha Kilponen

Deposit Insurance and Banks' Deposit Rates: Evidence from the 2009 EU Policy
by Matteo Gatti and Tommaso Oliviero

"Unconventional" Monetary Policy as Conventional Monetary Policy: A Perspective from the United States in the 1920s
by Mark Carlson and Burcu Duygan-Bump

Policy and Macro Signals from Central Bank Announcements
by Paul Hubert and Becky Maule
Online appendix

Optimal Monetary Policy in Small Open Economies: Producer-Currency Pricing
by Mikhail Dmitriev and Jonathan Hoddenbagh
Online appendix