In July 2004, the Bank for International Settlements (BIS), the European Central Bank, and each of the Group of Ten* (G-10) central banks announced their plans to support the development of a new publication focused on central bank theory and practice. Other central banks were invited to participate in this joint project, and there are now 55 sponsoring institutions.
From its initiation, the sponsors were committed to ensuring that the International Journal of Central Banking (IJCB) offer peer-reviewed articles of high analytical quality for a professional audience. The primary objectives of the IJCB are to widely disseminate the best policy-relevant and applied research on central banking and to promote communication among researchers both inside and outside of central banks.
Federal Reserve Vice Chairman Roger W. Ferguson, Jr. first proposed the idea of such a journal and discussed the concept with several BIS colleagues and with Federal Reserve Board Governor Ben S. Bernanke, who agreed to serve as the initial managing editor. John B. Taylor, Professor of Economics at Stanford University, was appointed managing editor in September 2005. Frank Smets of the European Central Bank became managing editor in January 2008.
Bank of England Chief Economist Charles Bean strongly supported the project, and the journal's governing body, comprising representatives from the sponsoring institutions, was established.
John C. Williams now serves as managing editor along with six co-editors: Pierpaolo Benigno, Michael Devereux, Harrison Hong, Loretta Mester, Rafael Repullo, and Stephanie Schmitt-Grohe.
A distinguished group of associate editors work along with the journal's managing editor and co-editors to coordinate solicitation and review of articles across a range of disciplines reflecting the missions of central banks around the world. While featuring policy-relevant articles on any aspect of the theory and practice of central banking, the publication has a special emphasis on research bearing on monetary and financial stability.
* The G-10 central banks are the Bank of Canada, Bank of England, Bank of France, Bank of Italy, Bank of Japan, Deutsche Bundesbank, Federal Reserve Board, National Bank of Belgium, Netherlands Bank, Sveriges Riksbank and Swiss National Bank