Existence of competitive equilibrium in a single-sector growth model with heterogeneous agents and endogenous leisure

Cuong Le van and Manh Hung Nguyen

Cahiers de la Maison des Sciences Economiques from Université Panthéon-Sorbonne (Paris 1)

Abstract: We prove the existence of competitive equilibrium in a single-sector dynamic economy with heterogeneous agents and elastic labor supply. The method of proof relies on exploiting the existence of Lagrange multipliers in infinite dimensional spaces and the link between Pareto-optima and competitive equilibria

Keywords: Optimal growth model; Lagrange multipliers; single-sector growth model; competitive equilibrium; elastic labor supply (search for similar items in EconPapers)
JEL-codes: C61 C62 D51 E13 O41 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2005-10
New Economics Papers: this item is included in nep-dge and nep-mac
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Related works:
Working Paper: Existence of competitive equilibrium in a single-sector growth model with heterogeneous agents and endogenous leisure (2005)
Working Paper: Existence of competitive equilibrium in a single-sector growth model with heterogeneous agents and endogenous leisure (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:mse:wpsorb:b05092

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