We study an output coupler for matter waves that could be used to deve
lop a cw atom-laser, based on current Bose-Einstein-condensation exper
iments with alkali-metal atoms. Assuming a cw pump mechanism for the c
ondensate and taking into account losses due to outgoing atoms allows
a description of the output by a coherently driven and damped Schrodin
ger equation. By contrast to a pulsed atom-laser output the stationary
outgoing matter wave is extremely monoenergetic. Phase fluctuations o
f the condensate and technical noise limit the coherence length of the
output beam. Using a Monte Carlo simulation we obtain the spatial cor
relation function of the output wave function, also including the infl
uence of gravity.