A Multivariate Filter for Measuring Potential Output and the NAIRU Application to the Czech Republic

WPIEA0452004 Image
Price:  $15.00

Author/Editor: Jaromir Benes, Papa M'B P N'Diaye
Release Date: © March, 2004
ISBN : 978-1-45184-650-8
Stock #: WPIEA0452004
Stock Status: On back-order

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This paper presents a multivariate (MV) methodology for obtaining measures of excess demand that can facilitate discussion of monetary policy issues and improve policy decisions. Using data for the Czech Republic, a growing economy undergoing major structural change, it shows how the use of more information to condition the paths of potential output and the non accelerating inflation rate of unemployment (NAIRU) improves on univariate methods as the Hodrick-Prescott (HP) filter.


Economic policy , Fiscal policy , Monetary policy

More publications in this series: Working Papers

More publications by: Jaromir Benes ; Papa M'B P N'Diaye