Browse research

Traders using the electronic limit order book in the foreign exchange market can watch the posted price and depth of the best quotes change over the day.

Many countries prohibit large shareholdings in their domestic banks.The authors examine whether such a restriction restrains competition in a duopolistic loan market. Blockholders may influence managers' output decisions by choosing capital structure, as in Brander and Lewis (1986).

Financial innovations and the removal of the reserve requirements in the early 1990s have made the distinction between demand and notice deposits arbitrary.

Suppose that the dynamics of the macroeconomy were given by (partly) random fluctuations between two equilibria: "good" and "bad."

The authors document the out-of-sample forecasting accuracy of the New Keynesian model for Canada.

The authors introduce new measures of important underlying macroeconomic phenomena that affect the financial side of the economy.

The authors address empirically the implications of structural breaks in the variance-covariance matrix of inflation and import prices for changes in pass-through.

The author empirically assesses the effects of institutional and political factors on the need and willingness of governments to make large fiscal adjustments.

The author compares the performance of three Gaussian approximation methods - by Nowman (1997), Shoji and Ozaki (1998), and Yu and Phillips (2001) - in estimating a model of the nonlinear continuous-time short-term interest rate.