Application of the Supercomputer to the Solution of Large-  Scale Economic Models
{'Code': '04050100', 'Directorate': {'Abbreviation': 'SBE', 'LongName': 'Direct For Social, Behav & Economic Scie'}, 'Division': {'Abbreviation': 'SES', 'LongName': 'Divn Of Social and Economic Sciences'}}
{'SignBlockName': 'Nancy Lutz', 'PO_EMAI': 'nlutz@nsf.gov', 'PO_PHON': '7032927280'}
This interesting project examines the applicability of the                      supercomputer in solving large-scale economic models.  These models             occur in macroeconomic analysis and in research on the financial                sector of the economy.  They are typically very complicated and                 nonlinear.  They cannot be solved analytically, and so require                  simulations to be useful.  The advent of relatively inexpensive and             powerful computers, such as the vector processor, has greatly reduced           the cost of simulation in many fields including economics.  In                  statistics and econometrics, simulations usually take one of two                forms, namely Monte Carlo studies, and parameter estimation via a               technique known as bootstrapping.  In the former, random samples are            repeatedly generated from a known model, thus the statistical                   properties of the estimates of the model parameters can be                      ascertained.  This is in essence a controlled experiment.  In the               latter approach, simulation is used to evaluate the statistical                 properties of parameter estimates obtained from a particular sample by          repeatedly randomly generating data that are similar to the original            data and examining the statistical properties of the resulting                  parameter estimates.                                                                                                                                            Each procedure has advantages and disadvantages.  This project                  examines these two analytical techinques in detail using the                    supercomputer.  In particular they are applied to large economic                factor analysis models of the financial sector to test various                  theories of stock price movements and asset pricing and accumulation.
{'FirstName': 'Bruce', 'LastName': 'Lehmann', 'PI_MID_INIT': None, 'PI_SUFX_NAME': None, 'PI_FULL_NAME': 'Bruce Lehmann', 'EmailAddress': None, 'NSF_ID': '000295699', 'StartDate': '07/01/1987', 'EndDate': None, 'RoleCode': 'Principal Investigator'}
{'Name': 'National Bureau of Economic Research Inc', 'CityName': 'CAMBRIDGE', 'ZipCode': '021385359', 'PhoneNumber': '6178683900', 'StreetAddress': '1050 MASSACHUSETTS AVE', 'StreetAddress2': None, 'CountryName': 'United States', 'StateName': 'Massachusetts', 'StateCode': 'MA', 'CONGRESSDISTRICT': '05', 'CONGRESS_DISTRICT_ORG': 'MA05', 'ORG_UEI_NUM': 'GT28BRBA2Q49', 'ORG_LGL_BUS_NAME': 'NATIONAL BUREAU OF ECONOMIC RESEARCH INC', 'ORG_PRNT_UEI_NUM': None}
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{'url': 'https://www.nsf.gov/awardsearch/download?DownloadFileName=1987&All=true', 'xml': '8705434.xml'}