D - Microeconomics

• Liquidity of the Government of Canada Securities Market: Stylized Facts and Some Market Microstructure Comparisons to the United States Treasury Market

  Staff Working Paper 1999-11 Toni Gravelle

  The aims of this study are to examine how liquidity in the Government of Canada securities market has evolved over the 1990s and to determine what factors influence the level of liquidity in this market, with some comparisons to the U.S. Treasury securities market. We find empirical support for the hypothesis that an increase in […]

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets JEL Code(s): D, D4, G, G1, G2

• Measuring Potential Output within a State-Space Framework

  Staff Working Paper 1999-9 Maral Kichian

  In this paper we measure potential output (and consequently the output gap) using state-space models. Given that the estimated output gap is used as an indicator to measure the extent of inflationary pressures in the economy, we evaluate the use of such models for the implementation of monetary policy. Our starting point is the Gerlach […]

  Content Type(s): Staff research, Staff working papers Topic(s): Potential output JEL Code(s): D, D2, D24