Dynamic Programming on a Quantum Annealer: Solving the RBC Model

Jes\'us Fern\'andez-Villaverde and Isaiah Hull

Papers from arXiv.org

Abstract: We introduce a novel approach to solving dynamic programming problems, such as those in many economic models, on a quantum annealer, a specialized device that performs combinatorial optimization. Quantum annealers attempt to solve an NP-hard problem by starting in a quantum superposition of all states and generating candidate global solutions in milliseconds, irrespective of problem size. Using existing quantum hardware, we achieve an order-of-magnitude speed-up in solving the real business cycle model over benchmarks in the literature. We also provide a detailed introduction to quantum annealing and discuss its potential use for more challenging economic problems.

Date: 2023-06
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://arxiv.org/pdf/2306.04285 Latest version (application/pdf)

Related works:
Working Paper: Dynamic Programming on a Quantum Annealer: Solving the RBC Model (2023)
Working Paper: Dynamic Programming on a Quantum Annealer: Solving the RBC Model (2023)
Working Paper: Dynamic Programming on a Quantum Annealer: Solving the RBC Model (2023)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2306.04285

Access Statistics for this paper

More papers in Papers from arXiv.org
Bibliographic data for series maintained by arXiv administrators ().