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...
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2019 Annual International Journal of Central Banking Research Conference, on "Commodity Prices and Monetary Policy: New Theory and Evidence" , 4-5 June 2019, Oslo, Norway hosted by Norges Bank and is co-organized with the Norges Bank, the Bank of Canada and the Centre for Applied Macro- and Petroleum Economics.

September 2019 issue contents

Cover and contents

Optimal Negative Interest Rate under Uncertainty
   by Kuk Mo Jung

Exchange Rate Pass-Through: What Has Changed Since the Crisis?
   by Martina Jašová, Richhild Moessner, and Elöd Takáts
    Online appendix

What Drives the Strength of Monetary Policy Transmission?
   by Jakub Matějů

Banks' Wealth, Banks' Creation of Money, and Central Banking
   by Tianxi Wang

Macroeconomic Effects of Banking-Sector Losses across Structural Models
   by Luca Guerrieri, Matteo Iacoviello, Francisco Covas, John C. Driscoll, Mohammad Jahan-Parvar, Michael Kiley, Albert Queralto, and Jae Sim
    Online appendix

Deleveraging and Consumer Credit Supply in the Wake of the 2008-09 Financial Crisis
   by Reint Gropp, John Krainer, and Elizabeth Laderman

What Drives Bank-Intermediated Trade Finance? Evidence from Cross-Country Analysis
   by José María Serena Garralda and Garima Vasishtha

Comparing Fiscal Consolidation Multipliers across Models in Europe
   by Juha Kilponen, Massimiliano Pisani, Sebastian Schmidt, Vesna Corbo, Tibor Hledik, Josef Hollmayr, Samuel Hurtado, Paulo Júlio, Dmitry Kulikov, Matthieu Lemoine, Matija Lozej, Henrik Lundvall, José R. Maria, Brian Micallef, Dimitris Papageorgiou, Jakub Rysanek, Dimitrios Sideris, Carlos Thomas, and Gregory de Walque

Editorial board
Managing Editor

Loretta J. Mester
Federal Reserve Bank of Cleveland


Tobias Adrian
International Monetary Fund

Boragan Aruoba
University of Maryland

Pierpaolo Benigno
LUISS Guido Carli

Elena Carletti
Bocconi University

Huberto Ennis
Federal Reserve Bank of Richmond

Linda S. Goldberg
Federal Reserve Bank of New York

Sharon Kozicki
Bank of Canada

Keith Kuester
University of Bonn

Luc Laeven
European Central Bank

Barbara Rossi
CREI, Universitat Pompeu Fabra

Print ISSN: 1815-4654 Frequency: Four times a year
Current Volume: 15, Number 3