EXISTENCE OF COMPETITIVE EQUILIBRIUM IN AN OPTIMAL GROWTH MODEL WITH HETEROGENEOUS AGENTS AND ENDOGENOUS LEISURE

Aditya Goenka, Cuong Le van and Manh Hung Nguyen

Macroeconomic Dynamics, 2012, vol. 16, issue S1, 33-51

Abstract: This paper proves the existence of competitive equilibrium in a single-sector dynamic economy with heterogeneous agents, elastic labor supply, and complete asset markets. The method of proof relies on some recent results concerning the existence of Lagrange multipliers in infinite-dimensional spaces and their representation as a summable sequence and a direct application of the inward-boundary fixed point theorem.

Date: 2012
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Related works:
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2012)
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2011)
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2011)
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2011)
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2011)
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2011)
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2011)
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2010)
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2010)
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2008)
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2008)
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