Kenneth Judd Talks About Advancing Computation in Economics

Ken Judd, the Paul H. Bauer Senior Fellow at the Hoover Institution, is an expert in the economics of taxation, imperfect competition, and mathematical economics. His current research focuses on developing computational methods for economic modeling and applying them to tax policy, antitrust issues, macroeconomics, and policies related to climate change.

During his virtual visit to the Salem Center, Dr. Judd gave two talks about advancing computing in economics. In Ken’s Salem Policy Seminar (10/6) titled When Will the Fed Join the Third Millennium?, he discussed that the U.S. Government and most businesses use powerful computing tools, but the Federal Reserve stands out as one government agency that has rejected modern computational tools. In his Policy@McCombs talk: Climate Change Policy Analysis: An Example of how Supercomputing can Solve “Intractable” Economic Models, he described the DSICE framework which takes basic deterministic models developed by Nordhaus and adds elements of economic and climate uncertainty. He illustrated applications to the social cost of carbon, how direct capture of CO2 could affect policy, and implications for scenarios of global warming.

The recordings, slides, and paper associated with these talks can be found on the Salem Center’s Recent Events page. For more events put on by the Salem Center, visit the Salem Center’s event page.