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A wide range of research is conducted within the Central Bank of Iceland in connection with its functions. Most has been centred in the Economics and Monetary Policy Department until now,  but an increasing focus is also given to research in other departments, e.g. at the Financial Stability Department. Some research projects are jooint with researchers and/or institutions outside of the bank (e.g. IMF). On occasion, the central, the Central Bank commissions or backs outside research.

Some research projects are always ongoing, e.g. construction, estimation and analysis of models for macroeconomic forecasting and models for stress testing of the financial system in Iceland.