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

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  • Den Haan, Wouter J.
  • Judd, Kenneth L.
  • Juillard, Michel

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.

Suggested Citation

  • Den Haan, Wouter J. & Judd, Kenneth L. & Juillard, Michel, 2011. "Computational suite of models with heterogeneous agents II: Multi-country real business cycle models," Journal of Economic Dynamics and Control, Elsevier, vol. 35(2), pages 175-177, February.
    • Handle: RePEc:eee:dyncon:v:35:y:2011:i:2:p:175-177
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