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 2021 issue

Alternative Models of Interest Rate Pass-Through in Normal and Negative Territory
by Mauricio Ulate

The Rise of Fintech Lending to Small Businesses: Businesses' Perspectives on Borrowing
by Brett Barkley and Mark Schweitzer

Monetary Policy with Negative Interest Rates: De-Linking Cash from Digital Money
by Katrin Assenmacher and Signe Krogstrup

Modeling the Consumption Response to the CARES Act
by Christopher D. Carroll, Edmund Crawley, Jiri Slacalek, and Matthew N. White

The First Line of Defense: The Discount Window during the Early Stages of the Financial Crisis
by Elizabeth Klee

International Inflation Spillovers: The Role of Different Shocks
by Gregor Bäurle, Matthias Gubler, and Diego R. Känzig
Online appendixes

Always Look on the Bright Side? Central Counterparties and Interbank Markets during the Financial Crisis
by Massimiliano Affinito and Matteo Piazza

Pension Funds' Herding
by Dirk W.G.A. Broeders, Damiaan H.J. Chen, Peter A. Minderhoud, and C.J. Willem Schudel