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

Benes, Jaromir - 2004

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...

Persistent link: https://www.econbiz.de/10014404073

Monetary Policy Credibility and the Unemployment-Inflation Tradeoff : Some Evidence From 17 Industrial Countries

N'Diaye, Papa M'B. P. - 2002

Using data on long-term interest rates for 17 industrial countries, this paper develops some simple measures of monetary policy credibility and then tests if such measures improve the out-of-sample forecasts of conventional models of the inflation-unemployment process. The results provide some...

Persistent link: https://www.econbiz.de/10014399723

The Domestic and Global Impact of Japan's Policies for Growth

Batini, Nicoletta - 2005

the world economy. This paper examines the possible impact of fiscal adjustment and productivity-enhancing structural … imbalance with only limited spillovers to the rest of the world. Specifically, faster productivity growth would help lower Japan …''s debt and limit the tendency of fiscal consolidation to increase the external surplus. In fact, very rapid productivity …

Persistent link: https://www.econbiz.de/10014404214