A Comparison of Programming Languages in Economics

S. Borağan Aruoba & Jesús Fernández-Villaverde

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.

Published Versions

Journal of Economic Dynamics and Control Volume 58, September 2015, Pages 265-273

Related

Topics

Econometrics
Macroeconomics

Programs

Economic Fluctuations and Growth

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