01605cas a2200253 a 4500 AALejournalIMF002892 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451846508 1018-5941 BD-DhAAL BD-DhAAL Benes, Jaromir. A Multivariate Filter for Measuring Potential Output and the NAIRU Application to the Czech Republic / Jaromir Benes, Papa N'Diaye. Washington, D.C. : International Monetary Fund, 2004. 1 online resource (31 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet N'Diaye, Papa. IMF Working Papers; Working Paper ; No. 2004/045 Full text available on IMF http://elibrary.imf.org/view/journals/001/2004/045/001.2004.issue-045-en.xml IMF e-Library