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Maximum Likelihood in the Frequency Domain: The Importance of Time-to-Plan


We illustrate the use of various frequency domain tools for estimating and testing dynamic, stochastic general equilibrium models. Our substantive results confirm other findings which suggest that time-to-plan in the investment technology has potentially useful role to play in business cycle models.


Suggested citation: Christiano, Lawrence J., and Robert J. Vigfusson, 2001. “Maximum Likelihood in the Frequency Domain: The Importance of Time-to-Plan,” Federal Reserve Bank of Cleveland, Working Paper, no. 01-06.

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