Objective
Computational economics is an emerging branch of economic theory, which studies how the equilibrium can be efficiently computed. The search of a major realism in growth and business cycle models is pulling macroeconomists to consider more complex dynamic stochastic specifications, which requires the use of efficient numerical optimisation methods. The unifying theme of this proposal is the development of computational approaches for solving dynamic optimisation problems, and their application to general and realistic growth and business cycle models. Similarly to macroeconomic problems, business decision-makers face dynamic stochastic problems. An additional aim of this project is the application of these numerical methods to management decision, focusing on the robustness against unobserved shocks that might affect the decision outcome. This aim extends some previous work of the applicant on management decision in deregulated electricity markets. Furthermore, this proposal is concerned with the design of a robust procedure for calibrating parameters of macroeconomic models when the available empirical information is incomplete. The robustness in the calibration of the model is achieved by a worst-case approach. Worst-case modelling consists of essentially designing the best model that fits as much as possible to the available data in view of the worst-case scenario of unobserved decision variables. This is a key issue in many managerial problems.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- social sciences economics and business business and management innovation management
- social sciences economics and business economics
- natural sciences mathematics applied mathematics numerical analysis
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
FP6-2002-MOBILITY-11
See other projects for this call
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Coordinator
GETAFE, MADRID
Spain
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.