A Comparison of Programming Languages in Economics (2004, pdf) Nov 19 2019 15:41 language
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S. Boragan Aruobay
University of Maryland
Jesus Fernandez-Villaverde
University of Pennsylvania
August 5, 2014
Abstract
We solve the stochastic neoclassical growth model, the workhorse of modern macroeconomics, using C++,Fortran 2008, Java, Julia, Python, Matlab, Mathematica, and R. Weimplement 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.