W.J. den Haan
- Computational suite of models with heterogeneous agents II: Multi-country real business cycle models
- Journal of Economic Dynamics & Control
- Volume | Issue number
- 35 | 2
- Pages (from-to)
- Document type
- Faculty of Economics and Business (FEB)
- Amsterdam School of Economics Research Institute (ASE-RI)
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.
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