Modelling programming languages – appropriate tools?

Issue title: Computational Econometrics: Its Impact on the Development of Quantitative Economics

Guest editors: Charles G. Renfro

Article type: Research Article

Authors: Herbert, Ric D.^a

Affiliations: [a] Faculty of Science and Information Technology, University of Newcastle, Ourimbah, NSW, 2257, Australia. E-mail: ric.herbert@newcastle.edu.au | 601 West 113th Street, #12G, New York, NY 10025, USA. E-mail: cgrenfro@modler.com

Abstract: This paper examines the issue of modelling languages as software tools for the construction and analysis of economic models. Modelling languages are intermediate level software tools that fit between the conventional commercial programming languages (such as C++ and Java) and the higher level applications packages (such as specific econometric packages). They try to blend the advantages of both the higher level and lower level tools. This paper examines these languages for use in the construction of economic models. Specifically, it examines the issue of whether such a language is the appropriate software tool for an economic modeller. It uses the modelling language MATLAB together with a number of illustrative examples to examine the use of these software tools with dynamic economic models.

Keywords: programming languages, visual simulation, model construction

DOI: 10.3233/JEM-2004-0198

Journal: Journal of Economic and Social Measurement, vol. 29, no. 1-3, pp. 321-337, 2004