- The computation of equilibria in dynamic stochastic general equilibrium models with heterogeneous agents has become increasingly important in finance, macroeconomics and public finance. Unfortunately, economists often use ad hoc
- computational methods with poorly understood properties that produce approximate solutions of unknown quality. The development of algorithms and their theoretical foundations for the use in economics is a task that can only be achieved by an interdisciplinary effort by scholars in economics, applied mathematics and computer science.
The aim of the ZCCFE is to promote the exchange and development of computational research tools as well as fostering a world-wide community in an emerging area of science.
Conferences and summer schools for PhD students must lead to closer interaction between applied economists, economic theorists and mathematicians to overcome computational challenges that have so far limited the application of computational methods to large scale problems in economics and finance.