This essay examines the idea and potential of a computational approach to theory,' discusses methodological issues raised by such computational methods, and outlines the problems associated with the dissemination of computational methods and the exposition of computational results. We argue that...

We explore alternative approaches to numerical solutions of large rational expectations models. We discuss and compare several current alternatives, focussing on the tradeoffs in accuracy, space, and speed. The models range from representative agent models with many goods and capital stocks, to...

Maximum likelihood estimation of structural models is often viewed as computationally difficult. This impression is due to a focus on the Nested Fixed-Point approach. We present a direct optimization approach to the general problem and show that it is significantly faster than the NFXP approach...