Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/18846
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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 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_US
dc.language.isoengen_US
dc.publisher|aCenter for Economic Studies and Ifo Institute (CESifo) |cMunich-
dc.relation.ispartofseries|aCESifo Working Paper |x1207en_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.ppn856635022en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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