Journal of Central Banking Theory and Practice

2012 - 2025

From Central bank of Montenegro
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Volume 14, issue 3, 2025

Does Bank Capital Increase the Productivity of the Banking Industry? A Critical Review pp. 5-34

André Arnaud Enguene

Tax Cut-Induced Wage Growth as a Source of Inflation in a Dollarized Economy – Review of the Case of Montenegro pp. 35-51

Maja Baćović

Monetary Policy of the ECB and its Spillover Effects to Central and Eastern Europe. Rolling Window VAR Approach pp. 53-77

Ewa Stawasz-Grabowska and Joanna Stawska

Can Digitalisation Mitigate Financial Exclusion? Investigation of Regional Disparities pp. 79-104

Kristina Kocisova and Tamara Petriková

Carrot and Stick: Impact of Regulations, Subsidies, and Obligations on the Development of Cashless Payments in Poland pp. 105-138

Michal Polasik, Radoslaw Kotkowski, Arkadiusz Manikowski, Leo van Hove, Krzysztof Maciejewski, Agnieszka Huterska and Marta Jakubowska

Interest Rate Policy and the Assets and Financial Results of Central Banks in Selected European Union Member States pp. 139-160

Piotr Misztal

Does Central Bank Independence Affect Inflation? pp. 161-183

Vera Gojčaj

Sensitivity of Emerging Market Corporate Borrowing Spreads to Global Financial Conditions pp. 205-241

Gulsah Kulali and Zekeriya Yildirim

The Impacts of Liquidity Creation on Banking Stability: An Empirical Research in ASEAN-5 pp. 243-267

Thanh Nga Thi Tran and Xuân Linh Nguyen Tran

Volume 14, issue 2, 2025

Challenges and Opportunities of Implementing Digital Payment Systems in Southeast European Countries pp. 5-28

Zoran Mastilo, Filip Barić and Adis Puška

The Alignment of Monetary Policy in Foreign Countries with the Federal Reserve Bank’s Monetary Policy: Evidence from Fixed and Floating Exchange Rate Regimes pp. 29-46

Hatem Al-Hindawi, Ala’ Bashayreh and Samer Abdelhadi

Can Stablecoins Prevent Price Increases and Financial Instability? An Economic and Legal Perspective pp. 47-61

Sevasti–Maria Karakosta and Nikolaos A. Kyriazis

An Implicit Credibility Index for the Central Banks that Implemented Inflation-Targeting Regime pp. 63-90

Nezir Köse and Ali Talih Süt

The Impact of Monetary Policy on Economic Growth in SEE Countries: A Multivariate Approach pp. 91-119

Ljubomir Obradović and Zoran Grubišić

Analyzing Macroeconomic Variables and Stress Testing Effects on Credit Risk: Comparative Analysis of European Banking Systems pp. 121-149

Salma Gallas, Houssam Bouzgarrou and Montassar Zayati

Do Financial Markets and Safe-Haven Assets Affect CBDCs? Examining the Nexus between CBDC, Stock Index, Metal Commodity Futures, Oil Price, and Volatility pp. 151-167

Bilal Ahmed Memon and Gulhayo Nusratova

Assessment of the Relationship between Central Bank Interest Rate, Inflation and Growth in Central Africa Countries with the New Leading-Lagging Method pp. 169-193

Any Flore Djoumessi Djoukouo and Knut Lehre Seip

The Relationship between Asset Size and Performance in Islamic Banks: An Application with SWARA-AHP-COPRAS Methods in the Covid-19 Era pp. 195-224

Tuğba EYCEYURT Batir and Adem Babacan

A Note on Structural Uncertainty, Flexibility and Monetary Policy Credibility: An Inflation Targeting Approach for the Post-Covid Period pp. 225-243

Ricardo Ramalhete Moreira

Volume 14, issue 1, 2025

Monetary Regimes with Two Nominal Anchors: Are they Possible? pp. 5-19

Nikola Fabris

Reassessment of Structural Changes in Financial Markets: The Direct Impact of Central Banks pp. 21-42

Damià Rey Miró, Pedro V. Piffaut and Ricardo Palomo Zurdo

Econometric Analysis of the Currency Crisis as a Consequence of Inflation Targeting pp. 43-57

Borivoje D. Krušković

How Politics Hinder Central Bank Digital Currency (CBDC) Development and What to Do about It pp. 59-74

Peterson K. Ozili

Climate Change Indicator Analysis pp. 75-94

Vesna Martin

The Transmission Mechanism of Monetary Policy and Central Bank Digital Currency: A New Monetary Order? pp. 95-119

Elyor Davlatov and Judit Sági

Introducing the Foreign Exchange Reserve Demand – Inflation Buffer Hypothesis pp. 121-144

Omar Oman

Central Bank Digital Currencies: Financial Stability Perspective pp. 145-162

Nikola Kosanović

Quantitative Tightening: Theory, Research, and Impact on Selected Emerging Market Economies pp. 163-181

Hedvig Gal and Attila Juhasz

Monetary Facts or Monetarist Facts? A Re-Examination pp. 183-214

Muhammad Azam Khan and Salim Rashid

Volume 13, issue 3, 2024

Artificial Intelligence, Fintech and Challenges to Central Banks pp. 5-42

Milena Vučinić and Radoica Luburić

Impact of Exchange Rate Regime Change on Bangladesh RMG Exports to the USA and the EU pp. 43-70

Mohammad Abul Kashem

Minimum Capital Requirements for Banks and the Financing of the Economies of the Economic and Monetary Community of Central Africa pp. 71-107

André Arnaud Enguene

Analyzing the Impact of Fiscal and Monetary Policies on Income Distribution in Central Asian Economies pp. 109-140

Muhammad Azam, Zulfiqar Khan and Yusnidah Ibrahim

Deposit Channel of Monetary Policy in European Countries pp. 141-166

Serhii Savluk and Olena Breheda

To What Extent Does Central Bank Independence Alleviate Poverty in Developing Countries? pp. 167-189

Ayoub Rabhi

Fintech as an Enabler of Digital Economy Development in the Balkan Countries pp. 185-203

Dušan Radulović and Nebojša Jovović

Decision-Making Framework for Improving Bank Performance in Emerging Markets: The Analysis of AHP-TOPSIS and AHP-GRA Models pp. 191-218

Sabbor Hussain, Jo-Hui Chen and Talib Hussain

Does an Independent Central Bank Smooth Exchange Rate Volatility? Evidence from Time-Varying Panel Causality Analysis pp. 219-244

Durmuş Çağrı Yıldırım, Ömer Esen and Uğur Çınar

Central Bank Independence and Inflation Under Asymmetric Information: Delegation vs. Seesaw Effects pp. 245-270

Ceyhun Elgin and Oğuz Öztunalı

Transparency in Central Bank and Credit Expansion: Empirical Evidence from Asian Countries pp. 271-289

Saeed Sazzad Jeris, Omar Bari Md. Ibrahim, Ferdous Ahmed Chowdhury and Humaira Begum

Volume 13, issue 2, 2024

The Green Central Bank Index pp. 5-39

Natalia Koshel and John Thanassoulis

Structural Breaks and Co-Movements of Bitcoin and Ethereum: Evidence from the COVID-19 Pandemic Period pp. 41-70

Bilgehan Tekin

The Quantity Theory of Money, Quantitative Easing and the Missing Inflation Phenomenon pp. 71-88

Imad A. Moosa, Khalid Al-Saad and Ibrahim N. Khatatbeh

The Side Effects of Macroprudential Policies on Economic Performance in the Arab Region pp. 89-107

Rami Obeid

Analysis of the Transparency Index of the Central Banks of the Western Balkan Countries pp. 109-128

Vera Gojčaj

Liquid Asset Holdings and Banking Profitability: Evidence from South Asia pp. 129-152

Khalil Ullah Mohammad and Mohsin Raza Khan

Non-Ricardian Borrowers and Mortgage Type: Implications for Monetary Policy Leaning against the Wind pp. 153-185

Marcin Pietrzak

Volatility Spillover: Garch Analysis of S&P 500's Influence on Precious Metals pp. 187-211

Edo Duran, Zoran Grubisic and Milena Lazic

Relationship Between Internet Banking Service Quality, e-Customer Satisfaction, and Loyalty: A Comparative Study of India and Pakistan pp. 213-228

Ritesh Patel, Anand Kumar Mishra, Muhammad Zubair Chishti and Tejas M. Modi

Social Responsibility of the Financial Sector in the Information and Network Economy: The Example of Systemically Important Banks in Ukraine and Comparison With Banks in Other Countries of the World pp. 229-258

Oksana V. Portna, Natalia Yu. Iershova and Andrii A. Grytsenko

Volume 13, issue 1, 2024

Do Financial Markets Allow the Independence of Central Banks? pp. 5-26

Damià Rey Miró, Pedro Piffaut and Ricardo Palomo Zurdo

Monetary Policy Between Stability and Growth pp. 27-42

Nikola Fabris

Swiss National Bank: Is the Recent Loss a Threat to Monetary Policy? A Research Note pp. 43-55

Vanessa Kämpf, Georg Stadtmann and Lilli Zimmermann

DLT Options for CBDC pp. 57-88

Sky Guo, Joseph Kreitem and Thomas Moser

Financial Fragility in Developing Countries: An Analysis in the Context of Monetary Policy and Central Bank Independence pp. 89-116

Bengü Tosun and Selim Başar

A Refinement of the Relationship Between Central Bank Independence, Inflation, and Income Inequality in Developing Countries pp. 117-131

Fadi Fawaz and Masha Rahnamamoghadam

Central Bank Digital Currency Adoption Challenges, Solutions, and a Sentiment Analysis pp. 133-165

Peterson Ozili and Sergio Náñez Alonso

Assessing the Banking Sector of Bosnia and Herzegovina: An Analysis of Financial Indicators through the MEREC and MARCOS Methods pp. 167-197

Zoran Mastilo, Anđelka Štilić, Dejan Gligović and Adis Puška

The Impact of Energy on Climate and Economic Stability: Forecast for Serbia pp. 199-222

Nemanja Backović, Miomir Jakšić and Bojan Ilić

Monetary Policy Press Releases of 24 Inflation Targeting Central Banks – A Comparison of their Key Features and Complexity pp. 223-243

Piotr Szczerba, Anna Wojtyniak, Joanna Niedźwiedzińska and Wojciech Bogdanowicz