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Working Paper

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, and Robert Vigfusson. 2001. “Maximum Likelihood in the Frequency Domain: The Importance of Time-to-Plan.” Federal Reserve Bank of Cleveland, Working Paper No. 01-06. https://doi.org/10.26509/frbc-wp-200106