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Danish government makes its new economic model open source

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31–40 of 166 posts

Re: Danish government makes its new economic model open source

#31
post #23

Earlier quoted context omitted.

I don't understand the use of Chicago as a verb, can you help? Also, do we explicitly know it was the US, or just implicitly?

They're referring to the CIA assisted fascist coup where the Chicago Boys "ran" the economy afterward using it as a place to experiment with their ideology. 1. https://en.wikipedia.org/wiki/Chicago_Boys 2. https://en.wikipedia.org/wiki/1973_Chilean_coup_d'%C3%A9tat

Thank you.

Re: Danish government makes its new economic model open source

#32
post #18

Wow, cool! The model is specified as a constrained nonlinear optimization problem for which a solution is found using high-quality proprietary numerical solvers.[a] All partial differential equations specifying the model have a basis in economic theory or in heuristics and approximations shown to be consistent with reality. Parameters come directly from (what I assume is a large amount of) economic data collected by…

Thanks! Julia was not even in 1.0 when we started the project, but would absolutely be a great choice today. So far, only the Conopt4 solver can solve our model, which means we have to go through GAMS even if we rewrite in Julia. I saw Rackauckas' JuliaCon presentation where he talks about ML approximations and immediately got excited too.

Re: Danish government makes its new economic model open source

#33
post #23

Earlier quoted context omitted.

I don't understand the use of Chicago as a verb, can you help? Also, do we explicitly know it was the US, or just implicitly?

They're referring to the CIA assisted fascist coup where the Chicago Boys "ran" the economy afterward using it as a place to experiment with their ideology. 1. https://en.wikipedia.org/wiki/Chicago_Boys 2. https://en.wikipedia.org/wiki/1973_Chilean_coup_d'%C3%A9tat

Thanks for the explanation, I interpreted as 'Chicago'd' as a reference to the city of Chicago's high violent-crime rate.

Re: Danish government makes its new economic model open source

#34
post #18

Wow, cool! The model is specified as a constrained nonlinear optimization problem for which a solution is found using high-quality proprietary numerical solvers.[a] All partial differential equations specifying the model have a basis in economic theory or in heuristics and approximations shown to be consistent with reality. Parameters come directly from (what I assume is a large amount of) economic data collected by…

Thanks! Julia was not even in 1.0 when we started the project, but would absolutely be a great choice today. So far, only the Conopt4 solver can solve our model, which means we have to go through GAMS even if we rewrite in Julia. I saw Rackauckas' JuliaCon presentation where he talks about ML approximations and immediately got excited too.

Thank you. That makes sense. Also, I fully get why you're excited: The use of "learnable components" for selectively replacing heuristics in models like yours seems like an ideal use case for Julia. (To me it looks like the future of modeling.)

Re: Danish government makes its new economic model open source

#37
post #17
post #3

I wonder if this includes Christiania, the billion Euros of cannabis sold there each year, and the big lift all those drug tourists impart on the local service industry. Beautiful place by the way, would recommend.

Christiania is like the least beautiful place in the country...

I agree. We went to the Louisiana Museum of Modern Art and walked from the station. The surroundings are stunning. Rural Denmark looks really nice. Christiania not so much. A lot of dubious looking people in the station. At least they didn't attempt to sell us drugs, maybe thanks in part to Danish culture.

Re: Danish government makes its new economic model open source

#38
post #25
post #16

I bet there has to be better solutions than github.

Perfect is the enemy of good. Sure there is, though the most popular alternative (Gitlab, from where I'm seated) IPO'd recently, and we know the effect that tends to have. Our national governments are already pretty comfortable with Microsoft products. Do you know any other git hosts that have persistently proven themselves trustworthy and have superior financial incentives? Otherwise it might be better to focus on t…

I'd be happy to focus on the meat of the post, but for completeness, the answer to your question is "The one you run yourselves."

Re: Danish government makes its new economic model open source

#39
post #35

This is fantastic! I'm not qualified to make any, but are you expecting/hoping for/accepting pull requests?

Not expecting any, and the model is probably too complicated for outsiders to make substantial changes. But anyone is welcome and if the request is good I see no reason why we would not try to incorporate it.

Re: Danish government makes its new economic model open source

#40
post #18

Wow, cool! The model is specified as a constrained nonlinear optimization problem for which a solution is found using high-quality proprietary numerical solvers.[a] All partial differential equations specifying the model have a basis in economic theory or in heuristics and approximations shown to be consistent with reality. Parameters come directly from (what I assume is a large amount of) economic data collected by…

FYI, the New York Fed's model is written in Julia and also open source.

https://github.com/FRBNY-DSGE/DSGE.jl

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