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Natalia Koshel, John Thanassoulis
The Green Central Bank Index

Bilgehan Tekin
Structural Breaks and Co-Movements of Bitcoin and Ethereum: Evidence from the COVID-19 Pandemic Period

Imad A. Moosa, Khalid Al-Saad, Ibrahim N. Khatatbeh
The Quantity Theory of Money, Quantitative Easing and the Missing Inflation Phenomenon

Rami Obeid
The Side Effects of Macroprudential Policies on Economic Performance in the Arab Region

Vera Gojčaj
Analysis of the Transparency Index of the Central Banks of the Western Balkan Countries

Khalil Ullah Mohammad, Mohsin Raza Khan
Liquid Asset Holdings and Banking Profitability: Evidence from South Asia

Marcin Pietrzak
Non-Ricardian Borrowers and Mortgage Type: Implications for Monetary Policy Leaning against the Wind

Edo Duran, Zoran Grubisic, Milena Lazic
Volatility Spillover: Garch Analysis of S&P 500’s Influence on Precious Metals

Ritesh Patel, Anand Kumar Mishra, Muhammad Zubair Chishti, Tejas M. Modi
Relationship Between Internet Banking Service Quality, e-Customer Satisfaction, and Loyalty: A Comparative Study of India and Pakistan

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

Damià Rey Miró, Pedro Piffaut, Ricardo Palomo Zurdo
Do Financial Markets Allow the Independence of Central Banks?

Nikola Fabris
Monetary Policy Between Stability and Growth

Vanessa Kämpf, Georg Stadtmann, Lilli Zimmermann
Swiss National Bank: Is the Recent Loss a Threat to Monetary Policy? A Research Note

Sky Guo, Joseph Kreitem, Thomas Moser
DLT Options for CBDC

Bengü Tosun, Selim Başar
Financial Fragility in Developing Countries: An Analysis in the Context of Monetary Policy and Central Bank Independence

Fadi Fawaz, Masha Rahnamamoghadam
A Refinement of the Relationship Between Central Bank Independence, Inflation, and Income Inequality in Developing Countries

Peterson K. Ozili, Sergio Luis Náñez Alonso
Central Bank Digital Currency Adoption Challenges, Solutions, and a Sentiment Analysis

Zoran Mastilo, Anđelka Štilić , Dejan Gligović, Adis Puška
Assessing the Banking Sector of Bosnia and Herzegovina: An Analysis of Financial Indicators through the MEREC and MARCOS Methods

Nemanja Backović, Miomir Jakšić, Bojan Ilić
The Impact of Energy on Climate and Economic Stability: Forecast for Serbia

Piotr Szczerba, Anna Wojtyniak, Joanna Niedźwiedzińska, Wojciech Bogdanowicz
Monetary Policy Press Releases of 24 Inflation Targeting Central Banks – A Comparison of their Key Features and Complexity

Kyle D. Allen, Scott E. Hein
Unusual Changes in the U.S. Treasury Security Market During the Fourth Round of Quantitative Easing

Tijana Kaličanin, Zoran Grubišić, Sandra Kamenković
The Relationship Between Bank Concentration and Interest Rates

Melik KAMIŞLI, Mustafa ÖZER, Özlem SAYILIR, Patrice Racine DIALLO
Time Scales Based Analysis of the Effects of COVID-19 Related Economic Support on the Stock Markets in Emerging Markets

Amina Haoudi, Ali Bennagem Touati
Central Bank Independence: The Case of North African Central Banks

Borivoje D. Krušković
Econometric VAR Analysis of the Effect of the Foreign Exchange Reserves on Macroeconomic Variables in Emerging Countries: The Case of BRIC Countries

Areghan Isibor, Alexander Omankhanlen, Benjamin Ehikioya, Godswill Osuma, Adenike Oladipo, Adedoyin Bunmi-Alo, Kikiyanu Ajalaadebowale
Achieving Sustainable Economic Growth in Sub-Saharan African Countries Using the Tool of Monetary Policy Effectiveness

Zulfiqar Khan, Muhammad Azam Khan
The Effect of Monetary Policy on Income Inequality: Empirical Evidence from Asian and African Developing Economies

Pradip Kumar Kafle
Reputation Lasts Longer Than Life: How can Central Banks Quantify their Reputational Risk?

Lukas Pfeifer
The New Era of Capital Regulation Complexity

Guillermo Peña
Raising Interest Rates for Improving Income

Milena Vučinić, Radoica Luburić
Project Management in Central Banks

Draško Veselinovič, Janez Fabijan, Jaka Vadnjal
Does Credit Growth in the EMU Banking Sector Follow its Capital Adequacy?

Constantinos Kyriakopoulos, Alexandros Koulis, Gerasimos Varvounis
Importance of the Contingent Claims Analysis in Detecting Banking Risks: Evidence from the Greek Bank Crisis

Soraya BEN SOUISSI, Mahmoud Sami NABI
Could the Issuance of CBDC Reduce the Likelihood of Banking Panic?

Ilona Skibińska-Fabrowska
Demand for Cash and its Determinants - a Post-Crisis Approach

Muhammad Aftab, Ahsan Mehmood
Does Central Bank Transparency Deter the Exchange Rate Volatility? New Evidence from Asian Emerging Markets

Mehmed Ganić
Can Credit Related Macroprudential Instruments Be Effective in Reducing the Correlation Between Economic and Credit Growth? Cross-Country Evidence

Vesna Martin
Green Finance: Regulation and Instruments

Guizhou Wang, Kjell Hausken
Modeling which Factors Impact Interest Rates

Martha Cruz Zuniga, Dawit Senbet
Does the Effectiveness of Monetary Policy Depend on the Choice of Policy Instrument? Empirical Evidence from South Korea

Mustafa Özer, Zoran Grubišić, Sevilay Küçüksakarya

Effects of Exchange Rate, Output Gap, and Output Gap Volatility on Inflation Volatility in Turkey

Nikola Fabris, Milutin Ješić

Are Gold and Bitcoin a Safe Haven for European Indices?

Milorad Jovović, Nikola Mišnić, Bojan Pejović, Marija Mijušković

Customer Satisfaction and Switching Intentions of Banking Services End-Users in Montenegro

Muhammad Azam Khan

Does Monetary Policy Solely Correct Disequilibrium in the Balance of Payment? Evidence From the Developing World

Ahmet Faruk Aysan, Dilek Demirbas, Mustafa Disli, Monica Shirley Chaparro Parra

Resilience and Path Dependency: Income Distribution Effects of GDP in Colombia

Emna Trabelsi

Does Fiscal Transparency Matter for Bank Development? A Lookup on Emerging and Developing Countries

Rajko Tomaš

Sustainability of the Currency Board in Bosnia and Herzegovina in the Conditions of a Negative Interest Rate on the Reserve Currency

Retselisitsoe I. Thamae, Nicholas M. Odhiambo, John M. Khumalo

Bank Regulation in the Selected Sub-Saharan African Countries: Dynamics and Trends

Durmus Cagri Yildirim, Tugba Turan

Revisiting of Interest Rate Channel: Nonlinear transmission of Monetary Policy Shocks to the Turkish Economy

Mesut Doğan, Feyyaz Yildiz

Testing the Factors that Determine the Profitability of Banks with a Dynamic Approach: Evidence from Turkey

Serdar Ongan, Ismet Gocer

Money Supply Determination Process for Japan

Magdalena Kozińska 
CEE EU Central Banks’ Policy during the First Wave of COVID-19

Jonne Lehtimäki, Marianne Palmu
Who Should You Listen to in a Crisis? Differences in Communication of Central Bank Policymakers

Muhammad Azam, Rasheed Khan, Saleem Khan
Does the Phillips Curve Exist? Evidence from the Middle East and North African Countries

Inda Mulaahmetović
Quantitative Easing and Macroeconomic Performance in the United States

Shoaib Khan 
Determinants of Banks Profitability: An Evidence from GCC Countries

Željko Jović, Milena Lutovac Đaković 
Interbank Network as a Channel of Credit Contagion in Banks: Is Moral Hazard Transferable?

Patryk Kaczmarek 

Central Bank Digital Currency: Scenarios of Implementation and Potential Consequences for Monetary System

Erkan Demirbas, Nurettin Can 
Impact of Reserve Option Mechanism on Exchange Rate Volatility during the FED's Tapering Period

Damilola Oyetade, Adefemi A. Obalade, Paul-Francois Muzindutsi 
Changes in Basel Capital Requirements and Lending Ability of African Commercial Banks

Vítor Manuel Morais Pereira, José António Candeias Bonito Filipe 
Board Members’ Educational Background and Financial Performance: Evidence from Eurozone Banks

Eyas Gaffar A. Osman, May Alowi
Book Review „Central Banking in Turbulent Times“, Oxford University Press, 2018 by Francesco Papadia and Tuomas Välimäki

Gabriel A. Ogunmola, Fengsheng Chien, Ka Yin Chau, Li Li
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Milena Vučinić, Radoica Luburić
Fintech, Risk-Based Thinking and Cyber Risk

Anas Alaoui Mdaghri, Lahsen Oubdi
Bank-Specific and Macroeconomic Determinants of Bank Liquidity Creation: Evidence from MENA Countries

Nikola Fabris, Milena Lazić
Evaluating the Role of the Exchange Rate in Monetary Policy Reaction Function of Advanced and Emerging Market Economies

Mehmet Levent Erdas, Zeynep Ezanoglu
How Do Bank-Specific Factors Impact Non-Performing Loans: Evidence from G20 Countries

Darell Edmond, Vijay Prakash, Lalit Garg, Seema Bawa
Adoption of Cloud Services in Central Banks: Hindering Factors and the Recommendations for Way Forward

Diptes C. P. Bhimjee

Adaptive Early Warning Systems: An Axiomatic Approach

Karen Poghosyan, Ruben Poghosyan
An Application of Index Number Theory to Interest Rates: Evidence from Selected Post-Soviet Countries

Mikhail V. Zharikov
The Model of a Shared Interest Rate for a Group of Countries to Circulate a Digital Currency: Featuring the BRICS

Vyacheslav Dodonov
Gold as a Factor of Change in Central Bank Reserves in Periods of the Financial Markets Turbulence: the Case of Kazakhstan

Zoran Grubišić, Sandra Kamenković, Tijana Kaličanin
Market Power and Bank Profitability: Evidence from Montenegro and Serbia

Szilárd Erhart
Ready or not? Constructing the Monetary Union Readiness Index

Borivoje D. Krušković
Central Bank Intervention in the Inflation Targeting

Elena Deryugina, Maria Guseva, Alexey Ponomarenko
The Credit Cycle and Measurement of the Natural Rate of Interest

Emna Trabelsi
Macroprudential Transparency and Price Stability in Emerging and Developing Countries

Mihovil Anđelinović, Mihaela Milec, Ksenija Dumičić
Analysis of the Assets, Credits and Deposits Concentration within the Croatian Banking System based on Selected Concentration Indices

Viktar Dudzich

Determinants of De Jure – De Facto Exchange Rate Regime Gaps

Tafirei Mashamba
Liquidity Dynamics of Banks in Emerging Market Economies

Saif Ullah, Sayed Irshad Hussain, Agha Amad Nabi, Khurram Ali Mubashir
Role of Regulatory Governance in Financial Stability: A Comparison of High and Low Income Countries

Silvo Dajčman, Alenka Kavkler, Sergey Merzlyakov, Sergey E. Pekarski, Dejan Romih
International Transmission of Conventional and Unconventional Monetary Policy and Financial Stress Shocks from the Euro Area to Russia

Amila Žunić, Kemal Kozarić, Emina Žunić Dželihodžić
Non-Performing Loan Determinants and Impact of COVID-19: Case of Bosnia and Herzegovina

Guillaume Vallet
Great Power, Great Responsibility: Addressing the Underestimated Issue of Central Bank’s Social Responsibility

Nenad Milojević, Srdjan Redzepagic
Prospects of Artificial Intelligence and Machine Learning Application in Banking Risk Management

Daniela Bobeva
Nominal, Structural and Real Convergence of the EU Candidate Countries’ Economies

Mahdi Yazdani, Mohammad Nikzad
Output Losses from Currency Crises and the Role of Central Bank

Łukasz Kurowski
Financial cycle − A critical analysis of the methodology for its identification

Mehmed Ganić, Mahir Hrnjić
How Does International Financial Integration Really Affect Post-Transition Countries' Growth? Empirical evidence from the CEE-10 countries

Ibrahim A. Onour, Bruno S. Sergi
The impact of a political shock on foreign exchange markets in a small and open economy: A dynamic modelling approach

Erdogan Kaygin, Yunus Zengin, Ethem Topcuoglu, Serdal Ozkes
The Evaluation of Block Chain Technology within the Scope of Ripple and Banking Activities

Vojtěch Siuda, Milan Szabo
Measuring Sovereign Credit Risk of the EU countries

Konstantinos Drakos, Ioannis Malandrakis
Global Versus Non-Global Banks: A Capital Ratios-Based Analysis

Nikola Milović, Mijat Jocović, Nikola Martinović
Analysis of the Impact of Macroeconomic Stability on the Level of Global Competitiveness of Western Balkan Countries

Vesna Karadžić, Nikola Đalović
Profitability Determinants of Big European Banks

Martin N. Pazardjiev, Aleksandar Z. Vasilev
Specificities of the Monetary Transmission Mechanism within the Bulgarian Currency Board Framework: The first five years

Nina Vujanović, Nikola Fabris
Does market competition affect all banks equally? Empirical evidence on Montenegro

Faisal Abbas, Zahid Irshad Younas
How Do Bank Capital and Capital Buffer Affect Risk: Empirical Evidence from Large US Commercial Banks

Enkhzaya Demid
Heterogeneity in the Relationship Between NPLs and Real Economy: Evidence from the Mongolian Banking System

Samer A.M. AL-Rjoub
A financial Stability Index for Jordan

Carlos Castro-Iragorri, Juan Felipe Peña, Cristhian Rodríguez
A Segmented and Observable Yield Curve for Colombia

Alexander Ehimare Omankhanlen, Noah Ilori, Areghan Isibor, Lawrence Uchenna Okoye
Monetary Policies and the Achievement of Bank Profit Objective

Bryane Michael, Svitlana Osaulenko
TOWARD A NEW COMPARATIVE PUBLIC LAW OF CENTRAL BANK LEGISLATION: Designing Legislative Mandates for Central Bank Private Securities Assets Purchases and Nominal GDP Targeting

Dimitrios Anastasiou
Macroeconomic determinants of MIR interest rate margin in the euro area

Radoica Luburić
Crisis Prevention and the Coronavirus Pandemic as a Global and Total Risk of Our Time

Zoran Grubišić, Sandra Kamenković, Tijana Kaličanin
Comparative Analysis of the Banking Sector Competitiveness in Serbia and Montenegro

Aslı Güler
Does Monetary Policy Credibility Help in Anchoring Inflation Expectations? Evidence from Six Inflation Targeting Emerging Economies

Václav Brož, Lukáš Pfeifer
Are risk weights of banks in the Czech Republic procyclical? Evidence from wavelet analysis

Joel Hinaunye Eita, Victoria Manuel, Erwin Naimhwaka, Florette Nakusera
The Impact of Fiscal Deficit on Inflation in Namibia

Veton Zeqiraj, Flamur Mrasori, Omer Iskenderoglu, Kazi Sohag
Dynamic Impact of Banking Performance on Financial Stability: Fresh Evidence from Southeastern Europe

Amina Malik, Haroon Aziz, Buerhan Saiti, Shahab Ud Din
The Impact of Earnings variability and Regulatory Measures on Income Smoothing: Evidence from Panel Regression

Olatunji Abdul Shobande, Oladimeji Tomiwa Shodipe
Monetary Policy Interdependency in Fisher Effect: A Comparative Evidence

Guillermo Peña
Monetary Policy after the Great Moderation

Nikola Fabris
Financial Stability and Climate Change

Carolin Schellhorn
Financial System Stability, the Timing of Climate Change Action and the Federal Reserve

Milutin Ješić, Miomir Jakšić
The Impact of Institutional Features on R&D in Business Enterprise Sector and Sustainable Growth

Ismet Gocer, Serdar Ongan
The Relationship between Inflation and Interest Rates in the UK: The Nonlinear ARDL Approach

Anastasiadis Panagiotis, Katsaros Efthymios, Koutsioukis Anastasios-Taxiarchis, Pandazis Athanasios
GARCH Modelling of High-Capitalization Cryptocurrencies’ Impacts During Bearish Markets

Roberto Ercegovac, Mario Pečarić, Ivica Klinac
Bank Risk Profiles and Business Model Characteristics

Atsushi Tanaka
Monetary Base Controllability after an Exit from Quantitative Easing

Lixin Sun
On the People’s Bank of China’s Financial Strength and Policy Outcomes

P Jithin, Babu M Suresh
Testing for the Effectiveness of Inflation Targeting in India: A Factor Augmented Vector Autoregression (FAVAR) Approach

Paresh Kumar Narayan
Editorial: The 13th BMEB International Conference Special Issue of Journal of Central Banking, Theory and Practice

Shikha Singh, Mandira Sarma
Financial Structure and Stability: An Empirical Exploration

Bayront Yudit Rumondor, Pakasa Bary
Capital Flows and Bank Risk-Taking Behavior: Evidence From Indonesia

Tai-Hock Kuek, Chin-Hong Puah, M. Affendy Arip
Financial Vulnerability and Economic Dynamics in Malaysia

Bijoy Rakshit, Samaresh Bardhan
Does Bank Competition Enhance or Hinder Financial Stability? Evidence from Indian Banking

Rani Wijayanti, Sagita Rachmanira
Early Warning System for Government Debt Crisis in Developing Countries

Dat Thanh Nguyen, Viet Anh Hoang
Monetary Consequences of Fiscal Stress in a Game Theoretic Framework

Aditya Anta Taruna, Cicilia Anggadewi Harun, Raquela Renanda Nattan
Macroprudential Liquidity Stress Test: An Application to Indonesian Banks

Teck-Lee Wong, Wee-Yeap Lau, Tien-Ming Yip
Cashless Payments and Economic Growth: Evidence from Selected OECD Countries

Berry A. Harahap, Pakasa Bary, Anggita Cinditya M. Kusuma
The Determinants of Indonesia’s Business Cycle

Zulquar Nain, Bandi Kamaiah
Uncertainty and Effectiveness of Monetary Policy: A Bayesian Markov Switching-VAR Analysis

Muhammad Tahir, Haslindar Ibrahim, Abdul Hadi Zulkafli, Muhammad Mushtaq
Influence of Exchange Rate Fluctuations and Credit Supply on Dividend Repatriation Policy of U.S. Multinational Corporations

Nur Annisa Hasniawati, Eva R. Lase, Akhis R. Hutabarat
Indonesian Household Payment Choice: A Nested Logit Analysis

Kemal Kozarić, Emina Žunić Dželihodžić
Effects of Macroeconomic Environment on Non-Performing Loans and Financial Stability: Case of Bosnia and Herzegovina

Haryo Kuncoro
Interest Rate Policy and Exchange Rates Volatility Lessons from Indonesia

Milena Vučinić
Fintech and Financial Stability Potential Influence of FinTech on Financial Stability, Risks and Benefits

Borivoje Krušković
Exchange Rate Targeting Versus Inflation Targeting: Empirical Analysis of the Impact on Employment and Economic Growth

Bikramaditya Ghosh, Krishna MC
Econophysical bourse volatility – Global Evidence

Marcelo Álvez, Rodrigo Lluberas, Jorge Ponce
The Cost of Using Cash and Checks in Uruguay

Muhammad Nadim Hanif, Javaid Iqbal, Syed Hamza Ali, Muhammad Abdus Salam
Denoised Inflation: A New Measure of Core Inflation

Samsul Anwar
Weighting on Systemic Important Banking (SIB) in Indonesia: The Official Versus PCA Approaches

Adel M. Sarea
Web-based Financial Reporting Disclosure: Evidence from Selected Banks in the Kingdom of Saudi Arabia (KSA)

Miora Rakotonirainy, Jean Razafindravonona, Christian Rasolomanana
Macro Stress Testing Credit Risk: Case of Madagascar Banking Sector

Jonathan E. Leightner
Estimates of the Inflation versus Unemployment Tradeoff that are not Model Dependent

Arampatzis Marios, Daskalou Kalliopi, Papaioannou Evangelia and Prassa Paraskevi
Performance Evaluation of Global High-rated ETFs During the Taper Tantrum

Branko Živanović, Katarina Đulić and Ana Jolović
Financial Borrowing by Local State-Owned Enterprises in Serbia: An Assessment of National Practice

Vesna Martin
Development of Inflation Expectations in Serbia and a Comparative Analysis

Ali Awdeh, Zouhour Jomaa and Mohamad Kassem
The Effect of Bank Heterogeneity on the Interest Rate Channel in Lebanon

Željka Asanović
Essay on Finance-Growth Nexus

Imam Mukhlis, Isnawati Hidayah and Nora Ria Retnasih
Interest Rate Volatility of the Federal Funds Rate: Response of the Bank Indonesia and its Impact on the Indonesian Economic Stability

Nana Kwame Akosah, Paul Alagidede and Eric Schaling
Interest Rate and Exchange Rate Volatility Spillovers: Multiscale Perspective of Monetary Policy Transmission in Ghana

Ivana Vukčević and Radislav Jovović
Quality of Public Finance in the Countries of South-East Europe

Elhadj Ezzahid and Brahim Maouhoub
Capital Account Liberalization in Morocco: Is it Compatible with Fixed or Flexible Exchange Rate Regime?

Nikolaos A. Kyriazis and Emmanouil M. L. Economou
Brexit and new perspectives of an unconventional way of Eurozone revival

Snežana Radukić and Vesna Vučetić
Comparative Analysis of State Aid and Competitiveness of the Republic of Serbia and the Neighbouring Countries

Wilson Donzwa, Rangan Gupta and Mark E. Wohar
Volatility Spillovers between Interest Rates and Equity Markets of Developed Economies

Gualter Couto, Pedro Pimentel and Luís Toste
Financial Products in Portugal

Gani Ramadani and Predrag Pandiloski
Disinflationary Spillovers from The Euro Area into the Countries of Southeastern Europe

Yilmaz Bayar
Macroeconomic, Institutional and Bank-Specific Determinants of Non-Performing Loans in Emerging Market Economies: A Dynamic Panel Regression Analysis

Mario Krali and Andrey Gurov
Analysis of Granularity Adjustment for Regulatory Capital

Marko Tomljanović, Zoran Grubišić and Sandra Kamenković
Deindustrialization and Implementation of Industry 4.0 - Case of The Republic of Croatia

Fatmira Kola, Arsena Gjipali and Erjon Sula
Commercial Bank Performance and Credit Risk in Albania

Khalil Ullah Mohammad and Shin-Ichi Nishiyama
An Empirical Investigation into the Effect of Explicit Deposit Insurance and Design on the Liability Structure of Banks

Jonne O. Lehtimäki and Marianne Palmu
Central Bank Communication and Monetary Policy Predictability under Uncertain Economic Conditions

Radoica Luburić
A Model of Crisis Prevention (Based on managing change, quality management and risk management)

Kristin Berthold and Georg Stadtmann
The Swiss National Bank’s fear of float

Giscard Assoumou-Ella
Forecasting CEMAC’s foreign exchange reserves in presence of unanticipated changes in oil prices: an interrupted time series modelling

Reza Tahmoorespour, Mohamed Ariff and Alireza Zarei
Impact of Sovereign Debt Credit Rating Revision on Banking Industry: Evidence from G7 Countries

Tafirei Mashamba and Rabson Magweva
Basel III LCR Requirement and Banks’ Deposit Funding: Empirical Evidence from Emerging Markets

Lukáš Pfeifer and Zdeněk Pikhart
Leverage Ratio and its Potential For Enhancing the Effectiveness of Capital Regulation

Ali Awdeh
Monetary Policy and Economic Growth in Lebanon

Dinh Tran Ngoc Huy
Using External Financing in a One Factor Model Measuring the Volatility of Market Risk of Vietnam's Banking Industry During and After the Global Crisis

M. Nur Rianto Al Arif and Tara Bilqis Awwaliyah
Market Share, Concentration Ratio and Profitability: Evidence from Indonesian Islamic Banking Industry

Aleksandra Praščević and Milutin Ješić
Modeling Macroeconomic Policymakers’ Interactions under Zero Lower Bound Environment: The New Keynesian Theoretical Approach

Purnendu Kumar, S. Sujeesh Kumar and Archana Dilip
Effectivness of the Adoption of the XBRL Standard in the Indian Banking Sector

Nikola Fabris
Cashless Society – The Future of Money or a Utopia?

M. Fouad Jasmine, E. Fayed Mona and A. Emam Heba Talla
A New Insight into the Measurement of Central Bank Independence

Mirna Dumičić
Linkages Between Fiscal Policy and Financial (In)Stability

Taufeeq Ajaz
Nonlinear Reaction functions: Evidence from India

Fakarudin Kamarudin, Fadzlan Sufian, Annuar Md. Nassir, Nazratul Aina Mohamad Anwar and Hafezali Iqbal Hussain
Bank Efficiency in Malaysia a DEA Approach

Lyudmyla Malyarets, Oleksandr Dorokhov, Vitaliya Koybichuk and Liudmyla Dorokhova
Obtaining a Generalized Index of Bank Competitiveness Using a Fuzzy Approach

Danica Unevska Andonova and Magdalena Petrovska
Disaggregating Okun’s Law: A Case-Study for Macedonia

Andrija Đurović
Macroeconomic Approach to Point in Time Probability of Default Modeling – IFRS 9 Challenges

Mustafa Özer, Jovana Žugić and Sonja Tomaš-Miskin 
The Relationship between Current Account Deficits and Growth in Montenegro: ARDL Bounds Testing Approach

Milivoje Radovic, Milena Radonjic and Jovan Djuraskovic 
Central Bank Independence – The Case of the Central Bank of Montenegro

Mile Bošnjak 
Swiss Franc from the Croatian Perspective

Joerg Orgeldinger 
The Implementation of Basel Committee BCBS 239: Short analysis of the new rules for Data Management

Umit Bulut 
Inflation Expectations in Turkey: Determinants and Roles in Missing Inflation Targets

Abdelkader Aguir
Central Bank Credibility, Independence, and Monetary Policy

Laxmi Koju, Ram Koju and Shouyang Wang 
Macroeconomic and Bank-Specific Determinants of Non-Performing Loans: Evidence from Nepalese Banking System

Zoran Todorović 
Application of Ethics in the Accounting Profession with an Overview of the Banking Sector

Turguttopbas Neslihan Topbaş 
Are Capital Ratios Procyclical? Evidence from Turkish Banking Data

Ritesh Patel
Pre & Post-Merger Financial Performance: An Indian Perspective

Nikola Fabris
Challenges for Modern Monetary Policy

Anita Angelovska-Bezhoska, Ana Mitreska and Sultanija Bojcheva-Terzijan
The Impact of the ECB’s Quantitative Easing Policy on Capital Flows in the Cesee Region

Jovan Djuraskovic, Milivoje Radovic and Milena Radonjic Konatar
The Controversies of Modern Macroeconomic Theory in the Context of the Global Economic Crisis

Sergey Ivashchenko and Rangan Gupta
Forecasting using a Nonlinear DSGE Model

Marko Tomljanović, Zoran Grubišić and Ivona Huđek
Process of Deindustrialization in Montenegro

Enock Nyorekwa Twinoburyo and Nicholas M. Odhiambo
Monetary Policy and Economic Growth: A Review of International Literature

Liudmyla Malyaretz, Oleksandr Dorokhov and Liudmyla Dorokhova
Method of Constructing the Fuzzy Regression Model of Bank Competitiveness

Željka Asanović
An Analysis of the Determinants of Systemic Banking Crises in Southeast European Countries

Aneta Krstevska
Real Convergence of Western Balkan Countries to European Union in view of Macroeconomic Policy Mix

Tayfur Bayat, Selim Kayhan and İzzet Taşar
Re-Visiting Fisher Effect for Fragile Five Economies

Miomir Jakšić, Milica Jakšić
Inclusive Institutions for Sustainable Economic Development

Milijana Novović Burić, Vladimir Kašćelan, Milivoje Radović, Ana Lalević Filipović
Mechanisms of Protection from Interest Rate Risk with Reference to the Life Insurance Market in Montenegro

Kristin Berthold, Georg Stadtmann
Who put the Holes in the Swiss Cheese? Currency Crisis Under Appreciation Pressure

Milenko Popović
Technological Progress, Globalization, and Secular Stagnation

Brian Muyambiri, Prof NM Odhiambo
South Africa’s Financial Development and its Role in Investment

Mirna Dumičić, Igor Ljubaj
Delayed Credit Recovery in Croatia: Supply or Demand Driven?

Tamara Bašić Vasiljev
Estimated DSGE Model for Monetary and Fiscal Polic Coordination Analysis – The Case of Serbia

Umurcan Polat
Divisia and Simple Sum Monetary Aggregates: Any Empirical Relevance for Turkey?

Mohammad Abdolshah, Seyed Amir Mohammad Khatibi, Mostafa Moghimi
Factors Influencing Job Satisfaction of Banking Sector Employees

Νikolaos A. Kyriazis
Eurozone Debt Monetization and Helicopter Money Drops: How Viable can this be?

Radoica Luburić, Nikola Fabris
Money and the Quality of Life

Anita Angelovska Bezhoska
Central Bank Independence - the Case of the National Bank of Republic of Macedonia

Gerti Shijaku
Does Concentration Matter for Bank Stability?
Evidence from the Albanian Banking Sector

Muhammad Ali Nasir, Milton Yagob, Alaa Solimanc,
Junjie Wud
Institutional Design, Macroeconomic Policy Coordination and Implications for the Financial Sector in the UK

Atiq-ur-Rehman 
Revival of Legacy of Tooke and Gibson:
Further Evidence and Implications for Monetary Policy

Igbinosa, S., Sunday Ogbeide, Babatunde Akanji
Empirical Assessment on Financial Regulations and Banking Sector Performance

Željka Asanović
Predicting Systemic Banking Crises Using Early Warning Models: The Case of Montenegro

Vladan Martić, Ana Lalević-Filipović, Milivoje Radović
XBRL Implementation in the Banking Sector in Montenegro

Nikola Fabris, Nina Vujanović
The Impact of Financial Dollarization on Inflation Targeting: Empirical Evidence from Serbia

Neslihan Turguttopbas
Perspectives on Monetary Policy and Cost of Capital: Evidence from Turkey

Milorad Jovović, Bojana Femić-Radosavović , Milena Lipovina-Božović
Comparative Analysis of Results of Online and Offline Customer Satisfaction & Loyalty Surveys in Banking Services in Montenegro

Jakub Jakl
Impact of Quantitative Easing on Purchased Asset Yields, its Persistency and Overlap

Marijana Mitrović-Mijatović, Maja Ivanović 
Inflation in a Fully-Euroised Economy: Could Inflation Differentials Threaten Competitiveness?

Aisyah Abdul-Rahman, Noor Latifah Hanim Mohd Said, Ahmad Azam Sulaiman
Financing Structure and Liquidity Risk: Lesson from Malaysian Experience

Andrija Đurović
Estimating Probability of Default on Peer to Peer Market – Survival Analysis Approach

Νikolaos A. Kyriazis, Emmanouil M.L. Economou
The Relation of Brexit with the UK’s QE Decisions and its Impact on the Eurozone

Bojana Femić-Radosavović, Milorad Jovović
Loyalty, Investment Model and New Media -
A Correlation Study in Banking Services in Montenegro

Radoica Luburić
Strengthening the Three Lines of Defence in Terms of More Efficient Operational Risk Management in Central Banks

Borivoje D. Krušković
Exchange Rate and Interest Rate in the Monetary Policy Reaction Function

Mirna Dumičić
A Brief Introduction to the World of Macroprudential Policy

Ombir Singh, Sanjeev Bansal 
An Analysis of Revenue Maximising Efficiency of Public Sector Banks in the Post-Reforms Period

Zeljko Rutovic
The Financial-Economic Aspect of the Media and the Public Service in the Globalization Era (Budget and Ownership Framework)

Olivera Živković, Predrag Bjelić
An Analysis of International Trade of Montenegro Using Statistics on the Operations of Transnational Corporations’ Affiliates

Milutin Ješić
BOOK REVIEW: „Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework and its Applications“, Princeton University Press, Second Edition, 2015, by Jordi Galí

Indranarain Ramlall
Does Central Bank Quality Determine Sovereign Ratings and Credit Default Swap Spreads: Evidence from the World?

Timothy J. Haase
Financial Constraints and the Response of Business Investment to Monetary Policy Shocks

Kiril Postolov, Ivan Milenkovic, Dragana Milenkovic, Aleksandra Janeska Iliev
Influence of Market Values of Enterprise on Objectivity of the Altman Z-Model in the Period 2006-2012: Case of the Republic of Macedonia and Republic of Serbia

Magdalena Petrovska, Aneta Krstevska, Nikola Naumovski
Forecasting Macedonian Business Cycle Turning Points Using Qual Var Model

Milena Vučinić
Importance of Macroprudential Policy Implementation for Safeguarding Financial Stability

Radislav Jovovic, Elvis Lekic, Miroslav Jovovic
Monitoring the Quality of Services in Electronic Banking

Srđa Božović
Affirmation of the Legal Status of Taxpayers in Montenegro

Marko Tomljanović, Zoran Grubišić
Investment in Research and Development - A Factor of Adjustment of Montenegro to the EU Economy

Ahmad-Reza Jalali Naini, Mohammad-Amin Naderian
Over-reaction to Policy Signals, and Central Bank Optimal Communication Policy

Dawit Senbet
Measuring the Channels of Monetary Policy Transmission: A Factor-Augmented Vector Autoregressive (Favar) Approach

Slobodan Lakić, Damir Šehović, Mimo Drašković
Relevance of Low Inflation in the Southeastern European Countries

Nikola Fabris, Radoica Luburić
Financial Education of Children and Youth

Karen Poghosyan
A Comparison of Different Short-Term Macroeconomic Forecasting Models: Evidence from Armenia

Maja Ivanović
Determinants of Credit Growth: The Case of Montenegro

Ivаn Rаоnić, Zоrаn Vаsić, Igor Pejović 
Cross Check of the Tax Base in Serbia – Informative Tax Return Sample

Željko Jović
The Interaction Between FX and Credit Risk as an Example of Intersection of Monetary and Financial Stability Policy Goals – The Case of Serbia

Elona Dushku
Some Empirical Evidence of Loan Loss Provisions for Albanian Banks

Miomir Jakšić
Role of Regulatory Bodies in the Banking and Energy Sectors

Cécile Bastidon, Philippe Gilles, Nicolas Huchet
The ECB, Between Conservatism and Pragmatism

Muhammad Ali Nasir, Alaa M. Soliman, Milton Yago, Junjie Wu
Macroeconomic Policies Interaction & the Symmetry of Financial Markets’ Responses

Velimir Lukić
Integration of Government Bond Market in the Euro Area and Monetary Policy

Umit Bulut
How Far Ahead Does the Central Bank of the Republic of Turkey Look?

Mirna Dumičić 
Financial Stability Indicators – The Case of Croatia

Mico Apostolov, Dusko Josevski
Aggregate Demand–Inflation Adjustment Model Applied to Southeast European Economies

Karel Brůna, Naďa Blahová
Systemic Liquidity Shocks and Banking Sector Liquidity Characteristics on the Eve of Liquidity Coverage Ratio Application - The Case of the Czech Republic

Zorica Kalezić
Ownership Concentration and Firm Performance in Transition Economies: Evidence from Montenegro

Bojan Dimitrijević, Ivan Lovre
The Role of Temperature in Economic Exchange - An Empirical Analysis

Radoica Luburić
Quality Management Principles and Benefits of their Implementation in Central Banks

Nikola Fabris, Jelena Galić
Essay on Saving and Consumption

Borivoje D. Krušković, Tina Maričić
Monetary Targeting

Vesna Martin
Monetary Policy Analysis in Serbia

Gurkan I. Akalin,  Edmund L. Prater
The Global Crisis of the Late 2000s and Currency Substitution: A Study of Three Eastern European Economies Russia, Turkey and Ukraine

Snežana Radukić, Milan Marković, Milica Radović
The Effect of Food Prices on Inflation in the Republic of Serbia

Atiq-ur-Rehman
Revival of Legacy of Tooke and Gibson: Implications for Monetary Policy

Jelena Fabris
Inflation Targeting in Serbia

Fazal Haleem
Planning Change in an Organization; MCB Bank Limited, Pakistan

Nikola Fabris 
The History of Money in Montenegro

Damir Šehović
Analysis of Fiscal Rules in the European Monetary Union

Aneta Krstevska
Monetary Policy Objectives During the Crisis:
An Overview of Selected Southeast European Countries

Svetozar Tanasković, Maja Jandrić
Macroeconomic and Institutional Determinants of
Non-performing Loans

Milena Vučinić
Financial Stability – Comparative Analysis:
Montenegro, Serbia and the Netherlands

Snežana Radukić, Milica Radović 
Long Term Trend Analysis in the Capital Market – The Case of Serbia

Ana Vlahović
Challenges to the Implementation of a New Framework for Safeguarding Financial Stability

Shkendije Himaj
Corporate Governance in Banks and its Impact on Risk and Performance: Review of Literature on the Selected Governance Mechanisms

Borivoje D. Krušković, Tina Maričić
Empirical Analysis of the Impact of Inflation Targeting on the Risk Premium

Ristan Stijepović
Recovery and Reduction of Non-Performing Loans – Podgorica Approach

Igor Pejović
Book review “The Art of Money Management” by Radoica Luburić and Nikola Fabris

Velibor Milošević 
Use and Limitations of the Reserve Requirement Policy in Montenegro

Lidija Barjaktarović, Maja Dimić, Dejan Ječmenica
Assesment of the Interest Rates in the Serbian Banking Sector

Valentina Ivanović
Financial Independence of  Central Bank through the Balance Sheet Prism

Nenad Milojević
Optimal Banking and Other Financial Business for the Economic Growth of Serbia

Sanja Vuković
Stress Testing of the Montenegrin Banking System with Aggregated and Bank-Specific Data

Ichak Kalderon Adizes 
Change and Its Repercussions for the Banking Industry

Milojica Dakić
Global Financial Crisis – Policy Response

Radoje Žugić, Nikola Fabris
Framework for Preserving Financial Stability in Montenegro

Atiq-ur-Rehman
Relationship Between Energy Prices, Monetary Policy and Inflation; A Case Study of South Asian Economies

Radoica Luburić
Total Quality Management as a Paradigm of Business Success

Ivo Županović
Sustainable Risk Management in the Banking Sector

Igor Pejović
A Comparative Analysis of the Price Index in Transition Countries in the Time of Globalisation

Contents

Damir Šehović
General Aspects of Monetary and Fiscal Policy Coordination

Jelena Stanković, Vesna Janković-Milić,
Snežana Radukić
Quantitative Analysis of Business Success Indicators in the Banking Sector of the Republic of Serbia

Valentina Ivanović
The Key Characteristics of Financial Reporting in the European System of Central Banks

Novak Kondić, Borivoje D. Krušković
Unemployment Gap in the Currency Board Regime

Magdalena Petrovska, Elena Mucheva Mihajlovska
Measures of Financial Stability in Macedonia

Milutin Ješić
Implications of Fiscal Irresponsibility on Financial Stability

Contents

Yasin Akçelik, Ahmet Faruk Aysan, Arif Oduncu
Central Banking in Making during the Post-Crisis World and the Policy-Mix of the Central Bank of the Republic of Turkey

Željko Bogetić, Igor Pejović ,Israel Osorio-Roddarte
Expanding and Diversifying Montenegro’s Exports: A Product Space Analysis

Radoica Luburić
Challenges in Change Management in Central Banks

Marijana Mitrović Mijatović
Financial Stability in Open Markets Economy: Holistic Approach in Economic Policy

Snezana Popovčić-Avrić, Vule Mizdraković, Marina Đenić
Analysis of Financial Structure of the Serbian Banking Sector: Impact of the Financial Crisis

Lidija Barjaktarović, Maja Paunović, Dejan Ječmenica
Development of the Banking Sector in CEE Countries – Comparative Analysis

Contents

Radoje Žugić
Crisis management and the banking system in Montenegro

Željko Bogetić et al
Recent Developments, Outlook, and Policy Agenda in Western Balkans

Alexey V. Ulyukaev
New Monetary Policy Challenges

Daniela Bobeva
The new EU Macroeconomic Imbalances Procedure and its Relevance for the Candidate Countries

Michael Turner & Alistair Brown
The Performance of Melanesian Central Banks

Bojan Dimitrijević, Ivan Lovre
Essay on Monetary Policy and Economic Growth

Ivan Milenković, Milivoje Davidović
Determinants of Currency Substitution/Dollarization - The Case of the Republic of Serbia

Nikola Fabris, Gojko Rodić
The Efficiency of the Currency Board Arrangement

Radoica Luburić
Book review FOOD FOR THOUGHT by Ichak Kalderon Adizes

Contents

Kemal Hajdarevic, Kemal Kozaric, Jasmin Hadzigrahic
Architecture and infrastructure for governing information security in central banks

Zorica Kalezić
Corporate governance and firm performance with special reference to the banking system: empirical evidence from Monetengro

Aneta Krstevska and Magdalena Petrovska
The economic impacts of the foreign direct investments: panel estimation by sectors on the case of Macedonian economy

Marina Djenic, Snezana Popovcic-Avric, Lidija Barjaktarovic
Importance of forward contracts in the financial crisis

Milan Gylánik
Equilibrium real effective exchange rate estimation for the Slovak economy

Radoica Luburić
Book review MONETARY AND CREDIT POLICY by Kemal Kozarić and Nikola Fabris

Contents

Kemal Kozarić, Nikola Fabris
Monetary policy at crisis times

Petraq Milo
The impact of the budget deficit on the currency and inflation in the transition economies

Jelena Galic
Does the currency board regime provide an exit strategy: example of the transition economy in the process of EU/EMU accession

Novak Kondić , Borivoje D. Krušković
Transparency analysis in the function of central bank objective

Zoran Grubisic, Perisa Ivanovic
Influence of different monetary regimes on financial stability in see countries

Emilia Penkova-Pearson
Trade, convergence and exchange rate regime: evidence from Bulgaria and Romania