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by morley
3329 days ago
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I was wondering why they specifically chose Julia for this (since I know little about Julia at all), and found an answer in a previous article: > Julia has two main advantages from our perspective. First, as free software, Julia is more accessible to users from academic institutions or organizations without the resources for purchasing a license. Now anyone, from Kathmandu to Timbuktu, can run our code at no cost. Second, as the models that we use for forecasting and policy analysis grow more complicated, we need a language that can perform computations at a high speed. Julia boasts performance as fast as that of languages like C or Fortran, and is still simple to learn. http://libertystreeteconomics.newyorkfed.org/2015/12/the-frb... |
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I think the greatest benefit is that Julia code is both high-performance and (mostly) high-level, which makes it easy to change. I don't mind implementing a completely-specified algorithm in C or Fortran, but making significant changes to these code bases is simply much more work than in languages like Python or Julia.