Document Type

Article

Journal/Book Title/Conference

Economics Research Institute Study Paper

Volume

1

Publisher

Utah State University Department of Economics

Publication Date

2002

First Page

1

Last Page

20

Abstract

We present an alternative method for calibrating high-frequency models where the decision interval is shorter than the data-sampling interval. The standard method for choosing these "high-frequency" parameter values produces internal inconsistencies in the steady-state relations across frequencies. Our approach eliminates these inconsistencies and improves the fit of business cycle models by generating additional labor hours volatility.


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