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

More from NBER

In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Retirement and Disability, the Bulletin on Health, and the Bulletin on Entrepreneurship — as well as online conference reports, video lectures, and interviews.

Gita Gopinath The 2022 Martin Feldstein Lecture: Managing a Turn in the Global Financial Cycle Primary tabs
2022, 14th Annual Feldstein Lecture, Gita Gopinath, "Managing a Turn in the Global Financial Cycle"
  • Lecture
Gita Gopinath, the first deputy managing director of the International Monetary Fund, delivered the 2022 Martin...
2022 Summer Institute Methods Lecture Jiaying Gu Presenter
2022 Methods Lecture, Jiaying Gu, "Empirical Bayes Theory and Applications"
  • Lecture
Large data sets that include observations on many workers at a given firm, multiple decisions by individual judges,...
Ben Bernanke, Douglas Diamond, and Philip Dybvig
2022 Nobel Prize Celebrates Banking Research
  • Article
Former NBER research associate Ben Bernanke, current research associate Douglas Diamond, and Philip Dybvig have been awarded the 2022 Nobel Memorial...