Multi-country real business cycle models: Accuracy tests and test bench

Michel Juillard (1, 2) , Sébastien Villemot (1, 3, 4)

1 CEPREMAP - Centre pour la recherche économique et ses applications
2 Banque de france
3 PSE - Paris-Jourdan Sciences Economiques
4 PSE - Paris School of Economics

This paper describes the methodology used to compare the results of different solution algorithms for a multi-country real business cycle model. It covers in detail the structure of the model, the choice of values for the parameters, the accuracy tests used in the comparison, and the computer program specifically developed for performing the tests.

Mots clés: Accuracy tests; Numerical solutions; Heterogeneous agents

Domaines: Economies et finances

Michel Juillard, Sébastien Villemot. Multi-country real business cycle models: Accuracy tests and test bench. Journal of Economic Dynamics and Control, 2011, 35 (2), pp.178-185. ⟨10.1016/j.jedc.2010.09.011⟩. ⟨hal-00813056⟩