A comparison of programming languages in macroeconomics

We solve the stochastic neoclassical growth model, the workhorse of modern macroeconomics, using C++14, Fortran 2008, Java, Julia, Python, Matlab, Mathematica, and R. We implement the same algorithm, value function iteration, in each of the languages. We report the execution times of the codes in a...

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Veröffentlicht in:	Journal of economic dynamics & control 2015-09, Vol.58, p.265-273
Hauptverfasser:	Aruoba, S. Borağan, Fernández-Villaverde, Jesús
Format:	Artikel
Sprache:	eng
Schlagworte:	Algorithms Computational methods Dynamic equilibrium economies Economic dynamics Economic theory Growth models Iterative methods Macroeconomics Mathematical problems Programming languages Studies
Online-Zugang:	Volltext
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Beschreibung
Zusammenfassung:	We solve the stochastic neoclassical growth model, the workhorse of modern macroeconomics, using C++14, Fortran 2008, Java, Julia, Python, Matlab, Mathematica, and R. We implement the same algorithm, value function iteration, in each of the languages. We report the execution times of the codes in a Mac and in a Windows computer and briefly comment on the strengths and weaknesses of each language.
ISSN:	0165-1889 1879-1743
DOI:	10.1016/j.jedc.2015.05.009