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Numerical solution of linear models in economics: The SP-DG model revisited

Author

Listed:
  • T. Andrade, G. Faria, V. Leite, F. Verona, M. Viegas

    (PhD students at Universidade do Porto, Portugal)

  • O. Afonso

    () (CEMPRE and Faculdade de Economia da Universidade do Porto, Portugal)

  • P.B. Vasconcelos

    () (CMUP and Faculdade de Economia da Universidade do Porto, Portugal)

Abstract

In general, complex and large dimensional models are needed to solve real economic problems. Due to these characteristics, there is either no analytical solution for them or they are not attainable. As a result, solutions can be only obtained through numerical methods. Thus, the growing importance of computers in Economics is not surprising. This paper focuses on an implementation of the SP-DG model, using Matlab,developed by the students as part of the Computational Economics course. We also discuss some of our teaching/learning experience within the course, given for the first time in the FEP Doctoral Programme in Economics.

Suggested Citation

  • T. Andrade, G. Faria, V. Leite, F. Verona, M. Viegas & O. Afonso & P.B. Vasconcelos, 2007. "Numerical solution of linear models in economics: The SP-DG model revisited," FEP Working Papers 249, Universidade do Porto, Faculdade de Economia do Porto.
  • Handle: RePEc:por:fepwps:249
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    File URL: http://www.fep.up.pt/investigacao/workingpapers/07.10.03_wp249_Andradeetal.pdf
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    More about this item

    Keywords

    SP-DG Model; Output; Inflation; Numerical Simulation; Teaching of Economics;

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • A23 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Graduate
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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