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Working Paper

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

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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.
05.01.2001ISSN 2573-7953 WP 01-06DOI 10.26509/frbc-wp-200106

Working Papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views expressed in this paper are those of the authors and do not represent the views of the Federal Reserve Bank of Cleveland or the Federal Reserve System.

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