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Computational suite of models with heterogeneous agents II: Multi-country real business cycle models |
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| Authors: | Wouter J. Den Haan |
| Affiliation: | a Amsterdam School of Economics, University of Amsterdam, Amsterdam, The Netherlands and CEPR b Hoover Institution, Stanford University, Stanford, California, USA and NBER c Banque de France, 31 Rue Croix des Petits Champs, 75001 Paris, France and CEPREMAP |
| 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 |
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