scientific article; zbMATH DE number 1154017
One of the main areas of progress in economics over the last 30 years has been computational economics (CE). This papers surveys that progress, citing more than 200 papers in the process. The paper first describes the main algorithms used in CE, emphasizing Scarf's algorithm and global Newton methods. The paper then studies 5 realms where CE methods have led to important insights: general equilibrium models, static production economics, economies with a finite number of infinitely lived agents, overlapping generations economies, and economies with public goods and externalities. Like any good survey, this one brings an organizing principle to the material discussed: here, the computational challenge of multiple equilibria, which (generically) pervades all 5 of these realms. CE is here to stay, and this survey gives the reader new to the area a good idea of what CE has so far accomplished. For the entire collection see [Zbl 0889.90001].
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- scientific article; zbMATH DE number 4123479 (Why is no real title available?)
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- Approximate Generalizations and Computational Experiments
- Exploring multiple equilibria for symmetric \(2\times 2\) CES/LES pure exchange economies
- Smooth dynamics and computation in models of economic growth
- Smooth dynamics and computation in models of economic growth
- Externalities and nonlinear discounting: Indeterminacy
- Existence and computation of short-run equilibria in economic geography
- Impatience and equilibrium indeterminacy
- Income effects and indeterminacy in a calibrated one-sector growth model
- Indeterminacy and the elasticity of substitution in one-sector models
- Trade elasticity of substitution and equilibrium dynamics
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