A Comparison of Programming Languages in Macroeconomics
S. Boragan Aruoba and Jesus Fernandez-Villaverde
,
(
58
)
Journal of Economic Dynamics and Control
265-273
September
2015
Abstract
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.