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Contribution Details

Type Media Coverage
Title Economists cash in on efficient high-performance computing method
Organization Unit
  • Simone Ulmer
Faculty Members
  • Simon Scheidegger
  • English
Communication Medium
  • Online
Media Names
  • CSCS News
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Date February 22 - 2018
Abstract/Keywords Economists have previously made little use of high-performance computers (HPC) in their research. This is despite the fact that the complex interactions and heterogeneity of their models can quickly cause them to reach hundreds of dimensions, which cannot be calculated using conventional methods. In the past, simplified models were therefore often formulated for answering complex questions. These models solved some problems, but they could also provide false predictions, explains Simon Scheidegger, Senior Assistant at the University of Zurich's Department of Banking and Finance. For example, quantitatively studying optimal monetary policy in the wake of a financial crisis cannot be properly achieved using the conventional methods. However, calculating high-dimensional models on a supercomputer is not easy either. Until recently, researchers lacked appropriate numerical analysis and highly efficient software
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