A Comparison of Programming Languages in Economics
NBER Working Paper No. 20263
We solve the stochastic neoclassical growth model, the workhorse of modern macroeconomics, using C++11, Fortran 2008, Java, Julia, Python, Matlab, Mathematica, and R. We implement the same algorithm, value function iteration with grid search, 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.
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This paper was revised on July 30, 2014
Document Object Identifier (DOI): 10.3386/w20263
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