Searching for binary coalescences with inspiral templates: Detection and parameter estimation

There has been remarkable progress in numerical relativity recently. This has led to the generation of gravitational waveform signals covering what has been traditionally termed the three phases of the coalescence of a compact binary - the inspiral, merger and ringdown. In this paper, we examine the usefulness of inspiral only templates for both detection and parameter estimation of the full coalescence waveforms generated by numerical relativity simulations. To this end, we deploy as search templates waveforms based on the effective one-body waveforms terminated at the light-ring as well as standard post-Newtonian waveforms. We find that both of these are good for detection of signals. Parameter estimation is good at low masses, but degrades as the mass of the binary system increases.