Computational suite of models with heterogeneous agents: Multi-country real business cycle models

Wouter J. den Haan (), Kenneth Judd and Michel Juillard
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Wouter J. den Haan: Advisory Board of OA Cancer - UvA - University of Amsterdam [Amsterdam] = Universiteit van Amsterdam

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Abstract: This paper describes the second model considered in the computational suite project that compares the performance of different numerical algorithms. It is a multi-country model in which countries face different productivity shocks. Solving such models is a challenging numerical problem unless the number of countries is small. The solutions are functions of a large set of arguments and the functional forms are unknown. Moreover, the solution procedures have to deal with high-dimensional integration problems.

Keywords: Numerical solutions; Simulations; Approximations (search for similar items in EconPapers)
Date: 2010-12-17
Note: View the original document on HAL open archive server: https://hal.science/hal-00765828v1
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Citations: View citations in EconPapers (19)

Published in Journal of Economic Dynamics and Control, 2010, 35 (2), pp.175. ⟨10.1016/j.jedc.2010.09.010⟩

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Journal Article: Computational suite of models with heterogeneous agents II: Multi-country real business cycle models (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00765828

DOI: 10.1016/j.jedc.2010.09.010

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