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dc.contributor.authorHeer, Burkharden_US
dc.contributor.authorMaußner, Alfreden_US
dc.date.accessioned2009-01-28T15:53:17Z-
dc.date.available2009-01-28T15:53:17Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/18846-
dc.description.abstractWe compare the numerical methods that are most widely applied in the computation of the standard business cycle model with flexible labor. The numerical techniques imply economically insignificant differences with regard to business cycle summary statistics except for the volatility of investment. Furthermore, these results are robust with regard to the choice of the functional form of the utility function and the model?s parameterization. In conclusion, the simplest and fastest method, the log-linearization of the model around the steady state, is found to be most convenient and appropriate for the standard business cycle model.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesCESifo working papers 1207en_US
dc.subject.jelE32en_US
dc.subject.jelC68en_US
dc.subject.jelC63en_US
dc.subject.ddc330en_US
dc.subject.keywordlog-linearizationen_US
dc.subject.keywordprojection methodsen_US
dc.subject.keywordextended pathen_US
dc.subject.keywordvalue function iterationen_US
dc.subject.keywordparameterized expectationsen_US
dc.subject.keywordgenetic searchen_US
dc.subject.stwKonjunkturtheorieen_US
dc.subject.stwArbeitsmarktflexibilisierungen_US
dc.subject.stwNumerisches Verfahrenen_US
dc.subject.stwVergleichen_US
dc.subject.stwTheorieen_US
dc.titleComputation of business cycle models : a comparison of numerical methodsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn389732796en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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