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dc.contributor.authorHeer, Burkharden
dc.contributor.authorMaußner, Alfreden
dc.date.accessioned2009-01-28T15:53:17Z-
dc.date.available2009-01-28T15:53:17Z-
dc.date.issued2004-
dc.identifier.urihttp://hdl.handle.net/10419/18846-
dc.description.abstractWe compare the numerical methods that are most widely applied in the computation of thestandard business cycle model with flexible labor. The numerical techniques implyeconomically insignificant differences with regard to business cycle summary statistics exceptfor the volatility of investment. Furthermore, these results are robust with regard to the choiceof 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, isfound to be most convenient and appropriate for the standard business cycle model.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x1207en
dc.subject.jelE32en
dc.subject.jelC68en
dc.subject.jelC63en
dc.subject.ddc330en
dc.subject.keywordlog-linearizationen
dc.subject.keywordprojection methodsen
dc.subject.keywordextended pathen
dc.subject.keywordvalue function iterationen
dc.subject.keywordparameterized expectationsen
dc.subject.keywordgenetic searchen
dc.subject.stwKonjunkturtheorieen
dc.subject.stwArbeitsmarktflexibilisierungen
dc.subject.stwNumerisches Verfahrenen
dc.subject.stwVergleichen
dc.subject.stwTheorieen
dc.titleComputation of business cycle models : a comparison of numerical methods-
dc.typeWorking Paperen
dc.identifier.ppn856635022en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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