Multi-country real business cycle models: Accuracy tests and test bench
AbstractThis paper describes the methodology used to compare the results of different solution algorithms for a multi-country real business cycle model. It covers in detail the structure of the model, the choice of values for the parameters, the accuracy tests used in the comparison, and the computer program specifically developed for performing the tests.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Dynamics and Control.
Volume (Year): 35 (2011)
Issue (Month): 2 (February)
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Web page: http://www.elsevier.com/locate/jedc
Accuracy tests Numerical solutions Heterogeneous agents;
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- Wouter J. den Haan & Albert Marcet, 1993.
"Accuracy in simulations,"
Economics Working Papers
42, Department of Economics and Business, Universitat Pompeu Fabra.
- Kenneth L. Judd, 1998. "Numerical Methods in Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262100711, January.
- Judd, Kenneth L., 1992. "Projection methods for solving aggregate growth models," Journal of Economic Theory, Elsevier, vol. 58(2), pages 410-452, December.
- T.V.S.Ramamohan Rao, 2011. "Contemporary Relevance and Ongoing Controversies Related to the CES Production Function," Journal of Quantitative Economics, The Indian Econometric Society, vol. 9(2), pages 36-57, July.
- Villemot, Sébastien, 2012. "Accelerating the resolution of sovereign debt models using an endogenous grid method," Dynare Working Papers 17, CEPREMAP.
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