International Journal of Central Banking

2005 - 2025

Current editor(s): Loretta J. Mester

From International Journal of Central Banking
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Volume 14, issue 5, 2018

Taylor-Rule Exit Policies for the Zero Lower Bound pp. 1-53

Siddhartha Chattopadhyay and Betty Daniel

Decaying Expectations: What Inflation Forecasts Tell Us about the Anchoring of Inflation Expectations pp. 55-101

Aaron Mehrotra and James Yetman

Unconventional Monetary Policy and the Dollar: Conventional Signs, Unconventional Magnitudes pp. 103-152

Reuven Glick and Sylvain Leduc

Leverage and Risk-Weighted Capital Requirements pp. 153-191

Leonardo Gambacorta and Sudipto Karmakar

The Effect of ECB Forward Guidance on the Term Structure of Interest Rates pp. 193-222

Paul Hubert and Fabien Labondance

Information Design, Signaling, and Central Bank Transparency pp. 223-258

Wataru Tamura

The Cost of Quantitative Easing: Liquidity and Market Functioning Effects of Federal Reserve MBS Purchases pp. 259-304

John Kandrac

A Shadow Policy Rate to Calibrate U.S. Monetary Policy at the Zero Lower Bound pp. 305-346

Marco Lombardi and Feng Zhu

Volume 14, issue 4, 2018

A Narrative indicator of Monetary Conditions in China pp. 1-42

Rongrong Sun

Do Phillips Curves Conditionally Help to Forecast Inflation? pp. 43-92

Michael Dotsey, Shigeru Fujita and Tom Stark

The Effects of Government Bond Purchases on Leverage Constraints of Banks and Non-Financial Firms pp. 93-161

Michael Kühl

Central Banks' Predictability: An Assessment by Financial Market Participants pp. 163-185

Bernd Hayo and Matthias Neuenkirch

Crises and Rescues: Liquidity Transmission through Global Banks pp. 187-228

Claudia Buch, Cathérine Koch and Michael Koetter

The Impact of Monetary Strategies on Inflation Persistence pp. 229-274

Evžen Kočenda and Balázs Varga

Deviations from Covered Interest Rate Parity and the Dollar Funding of Global Banks pp. 275-325

Tomoyuki Iida, Takeshi Kimura and Nao Sudo

Monetary Policy and Defaults in the United States pp. 327-358

Michele Pfiffer

Volume 14, issue 3, 2018

Fiscal Consolidation in a Low-Inflation Environment: Pay Cuts versus Lost Jobs pp. 7-52

Guilherme Bandeira, Evi Pappa, Rana Sajedi and Eugenia Vella

Labor Tax Reforms, Cross-Country Coordination, and the Monetary Policy Stance in the Euro Area: A Structural Model-Based Approach pp. 65-140

Pascal Jacquinot, Matija Lozej and Massimiliano Pisani

Monetary and Fiscal Policy Interactions and the Labor Market pp. 153-165

Frank Smets

Tracking Monetary-Fiscal Interactions across Time and Space pp. 167-227

Michal Franta, Jan Libich and Petr Stehlík

Should the ECB Coordinate EMU Fiscal Policies? pp. 237-280

Tatiana Kirsanova, Celsa Machado and Ana Ribeiro

Sovereign Default and Monetary Policy Tradeoffs pp. 289-324

Huixin Bi, Eric Leeper and Campbell Leith

Pitfalls of Coordination? pp. 337-346

Sergey Slobodyan

Welfare Effects of Tax Policy in Open Economies: Stabilization and Cooperation pp. 347-376

Jinill Kim and Sunghyun Kim

Optimal Monetary Policy and Fiscal Policy Interaction in a Non-Ricardian Economy pp. 389-436

Massimiliano Rigon and Francesco Zanetti

Independent Central Banks and the Interplay between Monetary and Fiscal Policy pp. 447-470

Athanasios Orphanides

Volume 14, issue 2, 2018

Fiscal Policy Stabilization: Purchases or Transfers? pp. 1-50

Neil R. Mehrotra

Evaluating Indicators for Use in Setting the Countercyclical Capital Buffer pp. 51-112

Eero Tölö, Helinä Laakkonen and Simo Kalatie

The Rate Elasticity of Retail Deposits in the United Kingdom: A Macroeconomic Investigation pp. 113-158

Ching-Wai (Jeremy) Chiu and John Hill

Targeting Constant Money Growth at the Zero Lower Bound pp. 159-204

Michael Belongia and Peter Ireland

Learning about Commodity Cycles and Saving-Investment Dynamics in a Commodity-Exporting Economy pp. 205-262

Jorge Fornero and Markus Kirchner

Bond Vigilantes and Inflation pp. 263-300

Andrew Rose and Mark Spiegel

Global Factors in the Term Structure of Interest Rates pp. 301-340

Mirko Abbritti, Salvatore Dell’Erba, Antonio Moreno and Sergio Sola

Expectations about the Federal Reserve’s Balance Sheet and the Term Structure of Interest Rates pp. 341-391

Jane Ihrig, Elizabeth Klee, Canlin Li, Min Wei and Joe Kachovec

Volume 14, issue 1, 2018

Reassessing the Role of Labor Market Institutions for the Business Cycle pp. 1-34

Mirko Abbritti and Sebastian Weber

Tail Co-movement in Inflation Expectations as an Indicator of Anchoring pp. 35-71

Filippo Natoli and Laura Sigalotti

Monetary Policy, Financial Conditions, and Financial Stability pp. 73-131

Tobias Adrian and Nellie Liang

Optimality of the Friedman Rule in Economies with Money Demand by Firms pp. 133-158

Mehrab Kiarsi

The Effects of Monetary and Exchange Rate Policy Shocks: Evidence from an Emerging Market Economy pp. 159-199

Yasin Onder and Mauricio Villamizar-Villegas

Monetary and Macroprudential Policies to Manage Capital Flows pp. 201-257

Juan Medina and Jorge Roldós

Measuring the Natural Interest Rate for the Turkish Economy pp. 259-316

Vuslat Us

Currency Mismatch in the Banking Sector in Latin America and the Caribbean pp. 317-364

Martin Tobal

Volume 13, issue 4, 2017

A Global Trade Model for the Euro Area pp. 1-34

Antonello D’Agostino, Michele Modugno and Chiara Osbat

Optimal Monetary Policy with Nominal Rigidities and Lumpy Investment pp. 35-62

Tommy Sveen and Lutz Weinke

Disruptions in Large-Value Payment Systems: An Experimental Approach pp. 63-95

Klaus Abbink, Ronald Bosman, Ronald Heijmans and Frans van Winden

Cyclicality and Firm Size in Private Firm Defaults pp. 97-145

Thais Lærkholm Jensen, David Lando and Mamdouh Medhat

Predicting Vulnerabilities in the EU Banking Sector: The Role of Global and Domestic Factors pp. 147-189

Markus Behn, Carsten Detken, Tuomas Peltonen and Willem Schudel

The Great Globalization and Changing Inflation Dynamics pp. 191-226

Chengsi Zhang

Quantitative Easing and Tapering Uncertainty: Evidence from Twitter pp. 227-258

Annette Meinusch and Peter Tillmann

Fiscal Consolidation in an Open Economy with Sovereign Premia and without Monetary Policy Independence pp. 259-306

Apostolis Philippopoulos, Petros Varthalitis and Vanghelis Vassilatos

Volume 13, issue 3, 2017

Are Low Real Interest Rates Here to Stay? pp. 1-42

Lukasz Rachel and Thomas Smith

Monetary Policy, the Financial Cycle, and Ultra-Low Interest Rates pp. 55-89

John Juselius, Claudio Borio, Piti Disyatat and Mathias Drehmann

Commentary: Low Interest Rates: Causes and Consequences pp. 103-117

Robert Hall

Macroprodential Policy under Uncertainty pp. 119-154

Saleem Bahaj and Angus Foulis

Lower-Bound Beliefs and Long-Term Interest Rates pp. 165-202

Christian Grisse, Signe Krogstrup and Silvio Schumacher

Capital Injection to Banks versus Debt Relief to Households pp. 213-268

Jinhyuk Yoo

Commentary: Policies for Crises Prevention and Management pp. 277-285

Arvind Krishnamurthy

Leaning Against the Wind When Credit Bites Back pp. 287-320

Karsten R. Gerdrup, Frank Hansen, Tord Krogh and Junior Maih

Monetary Policy, Private Debt, and Financial Stability Risks pp. 337-373

Gregory Bauer and Eleonora Granziera

Commentary: Leaning Against the Wind: Costs and Benefits, Effects on Debt, Leaning in DSGE Models, and a Framework for Comparison of Results pp. 385-408

Lars Svensson

Volume 13, issue 2, 2017

Inferring Inflation Expectations from Fixed-Event Forecasts pp. 1-31

Diego Winkelried

International Prudential Policy Spillovers: Evidence from the International Banking Research Network pp. 1-4

Claudia Buch, Matthieu Bussiere and Linda Goldberg

International Prudential Policy Spillovers: A Global Perspective pp. 5-33

Stefan Avdjiev, Cathérine Koch, Patrick McGuire and Goetz von Peter

Fixed Prices and Regulatory Discretion as Triggers for Contingent Capital Conversion: An Experimental Examination pp. 33-71

Douglas Davis and Edward Prescott

International Banking and Cross-Border Effects of Regulation: Lessons from Canada pp. 35-64

Evren Damar and Adi Mordel

International Banking and Cross-Border Effects of Regulation: Lessons from Switzerland pp. 65-93

Simone Auer, Maja Ganarin Wallmer and Pascal Towbin

To Respond or Not to Respond: Measures of the Output Gap in Theory and in Practice pp. 73-120

Guy Segal

International Banking and Cross-Border Effects of Regulation: Lessons from Chile pp. 95-127

Alejandro Jara and Luis Cabezas

When the Walk Is Not Random: Commodity Prices and Exchange Rates pp. 121-158

Emanuel Kohlscheen, Fernando Avalos and Andreas Schrimpf

International Banking and Cross-Border Effects of Regulation: Lessons from Germany pp. 129-162

Jana Ohls, Marcus Pramor and Lena Tonzer

The Effects of Monetary Policy Accouncements at the Zero Lower Bound pp. 159-196

Natsuki Arai

International Banking and Cross-Border Effects of Regulation: Lessons from France pp. 163-193

Matthieu Bussiere, Julia Schmidt and Frederic Vinas

International Banking and Cross-Border Effects of Regulation: Lessons from Hong Kong pp. 195-221

Kelvin Ho, Eric Wong and Edward Tan

Assessing the Sources of Credit Supply Tightening: Was the Sovereign Debt Crisis Different from Lehman? pp. 197-234

Paolo Del Giovane, Andrea Nobili and Federico Signoretti

International Banking and Cross-Border Effects of Regulation: Lessons from Italy pp. 223-247

Marianna Caccavaio, Luisa Carpinelli and Giuseppe Marinelli

Joint Validation of Credit Rating PDs under Default Correlation pp. 235-282

Ricardo Schechtman

International Banking and Cross-Border Effects of Regulation: Lessons from Mexico pp. 249-271

Gabriel Levin-Konigsberg, Calixto López, Fabrizio López-Gallo and Serafín Martínez-Jaramillo

International Banking and Cross-Border Effects of Regulation: Lessons from Korea pp. 271-292

Hyunggeun Park and Jungyeoun Lee

Currency Wars, Coordination, and Capital Controls pp. 283-308

Olivier Blanchard

International Banking and Cross-Border Effects of Regulation: Lessons from the Netherlands pp. 293-313

Jon Frost, Jakob de Haan and Neeltje Van Horen

International Banking and Cross-Border Effects of Regulation: Lessons from Poland pp. 315-340

Krzysztof Gajewski and Oskar Krzesicki

International Banking and Cross-Border Effects of Regulation: Lessons from Portugal pp. 341-377

Diana Bonfim and Sónia Costa

International Banking and Cross-Border Effects of Regulation: Lessons from Turkey pp. 379-403

Yusuf Baskaya, Mahir Binici and Turalay Kenç

International Banking and Cross-Border Effects of Regulation: Lessons from the United Kingdom pp. 404-433

Robert Hills, Dennis Reinhardt, Rhiannon Sowerbutts and Tomasz Wieladek

International Banking and Cross-Border Effects of Regulation: Lessons from the United States pp. 435-476

Jose M Berrospide, Ricardo Correa, Linda Goldberg and Friederike Niepmann

Changes in Prudential Policy Instruments - A New Cross-Country Database pp. 477-503

Eugenio Cerutti, Ricardo Correa, Elisabetta Fiorentino and Esther Segalla

Cross-Border Prudential Policy Spillovers: How Much? How Important? Evidence from the International Banking Research Network pp. 505-558

Claudia Buch and Linda Goldberg

Volume 13, issue 1, 2017

Assessing and Combining Financial Conditions Indexes pp. 1-52

Sirio Aramonte, Samuel Rosen and John W. Schindler

Can the Fed Talk the Hind Legs Off the Stock Market? pp. 53-94

Sylvester Eijffinger, Ronald Mahieu and Louis Raes

Heterogeneous Bank Lending Responses to Monetary Policy: New Evidence from a Real-Time Identification pp. 95-149

John Bluedorn, Christopher Bowdler and Christoffer Koch

State Dependency in Price and Wage Setting pp. 151-189

Shuhei Takahashi

Tight Money and the Sustainability of Public Debt pp. 191-223

Sergey Pekarski

Consumers' Attitudes and Their Inflation Expectations pp. 225-259

Michael Ehrmann, Damjan Pfajfar and Emiliano Santoro

Aggregate Dynamics after a Shock to Monetary Policy in Developing Countries pp. 261-296

Emek Karaca and Mustafa Tugan

Effectiveness and Transmission of the ECB's Balance Sheet Policies pp. 297-333

Jef Boeckx, Maarten Dossche and Gert Peersman