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Maximum likelihood in the frequency domain: the importance of time-to-plan

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  • Christiano, Lawrence J.
  • Vigfusson, Robert J.

Abstract

The authors illustrate the use of various frequency-domain tools for estimating and testing dynamic, stochastic, general-equilibrium models. Their substantive results confirm other findings that suggest that time-to-plan in investment technology has a potentially useful role to play in business-cycle models.
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  • Christiano, Lawrence J. & Vigfusson, Robert J., 2003. "Maximum likelihood in the frequency domain: the importance of time-to-plan," Journal of Monetary Economics, Elsevier, vol. 50(4), pages 789-815, May.
    • Handle: RePEc:eee:moneco:v:50:y:2003:i:4:p:789-815
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