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

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

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Year of publication:	[2006]
Authors:	Benes, Jaromir
Other Persons:	N'Diaye, Papa (contributor)
Publisher:	[2006]: [S.l.] : SSRN
Subject:	Tschechien \| Czech Republic \| Produktionspotenzial \| Potential output \| Natürliche Arbeitslosenquote \| Natural rate of unemployment \| Phillips-Kurve \| Phillips curve \| Inflation \| Bruttoinlandsprodukt \| Gross domestic product \| Arbeitslosigkeit \| Unemployment \| Schätzung \| Estimation

Extent:	1 Online-Ressource (31 p)
Series:	IMF Working Paper ; No. 04/45
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 2004 erstellt
Other identifiers:	10.2139/ssrn.878868 [DOI]
Classification:	C51 - Model Construction and Estimation ; E31 - Price Level; Inflation; Deflation ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	ECONIS - Online Catalogue of the ZBW

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