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Title: A Practical Guide to Parallelization in Economics

Author(s): Jesús Fernández-Villaverde and David Zarruk Valencia

Publication Date: April 2018

Keyword(s): Computational Methods, Parallel Computing and Programming Languages

Programme Area(s): Monetary Economics and Fluctuations

Abstract: This guide provides a practical introduction to parallel computing in economics. After a brief introduction to the basic ideas of parallelization, we show how to parallelize a prototypical application in economics using, on CPUs, Julia, Matlab, R, Python, C++ - OpenMP, Rcpp - OpenMP, and C++ - MPI, and, on GPUs, CUDA and OpenACC. We provide code that the user can download and fork, present comparative results, and explain the strengths and weaknesses of each approach. We conclude with some additional remarks about alternative approaches.

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Bibliographic Reference

Fernández-Villaverde, J and Zarruk Valencia, D. 2018. 'A Practical Guide to Parallelization in Economics'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=12890