Staff working papers - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T12:13:35+00:00A Comparison of Alternative Methodologies for Estimating Potential Output and the Output Gap
https://www.bankofcanada.ca/1997/02/working-paper-1997-5/
In this paper, the authors survey some of the recent techniques proposed in the literature to measure the trend component of output or potential output. Given the reported shortcomings of mechanical filters and univariate approaches to estimate potential output, the paper focusses on three simple multivariate methodologies: the multivariate Beveridge-Nelson methodology (MBN), Cochrane's methodology (CO), and the structural VAR methodology with long-run restrictions applied to output (LRRO).1997-02-02T12:51:55+00:00enA Comparison of Alternative Methodologies for Estimating Potential Output and the Output Gap1997-02-02Econometric and statistical methodsWorking Paper 1997-5 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp97-5.pdfA Comparison of Alternative Methodologies for Estimating Potential Output and the Output GapChantal DupasquierAlain GuayPierre St-AmantFebruary 1997CC1C13C5C52EE5E52The Liquidity Trap: Evidence from Japan
https://www.bankofcanada.ca/1997/02/working-paper-1997-4/
Japanese economic activity has been stagnant since the collapse of the speculative asset-price bubble in 1990, despite highly expansionary monetary policy which has brought interest rates down to record low levels. Although several reasons have been put forward to explain the sustained weakness of the Japanese economy, none is more intriguing from the viewpoint of a central bank than the possibility that monetary policy had been largely ineffective because the Japanese economy entered a Keynesian "liquidity trap."1997-02-01T11:49:33+00:00enThe Liquidity Trap: Evidence from Japan1997-02-01International topicsRecent economic and financial developmentsWorking Paper 1997-4 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp97-4.pdfThe Liquidity Trap: Evidence from JapanIsabelle WeberpalsFebruary 1997EE4E42E5E51E52