Computational suite of models with heterogeneous agents II: Multi-country real business cycle models
Wouter J. Den Haan,
Kenneth Judd () and
Michel Juillard ()
Journal of Economic Dynamics and Control, 2011, vol. 35, issue 2, 175-177
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)
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Working Paper: Computational suite of models with heterogeneous agents: Multi-country real business cycle models (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:dyncon:v:35:y:2011:i:2:p:175-177
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