More advice for the universe
2009-10-11 · Original WordPress address
Keep in mind that there's huge fixed costs to simulations. I wrote code in May that is still running. As in, it hasn't converged yet. This was suppose to be my job market paper.
This summer was spent trying to find ways to make my code run faster. There's not much economics in that.
There's not much economics in the algebra involved in getting analytical solutions to your models, either. But at least the end result is an equation that you can give an economic interpretation to.
Also, my sense is that these sorts of papers take a long time to get published. This is probably because the models are not very transparent. People giggle when I say that my paper will have "simulated comparative statics".
Also, don't use R to simulate stuff in. Its really slow and there's not much you can do about it. Otherwise, R rocks.