Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure

Aditya Goenka (), Cuong Le van () and Manh-Hung Nguyen ()
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Manh-Hung Nguyen: LERNA-INRA, Toulouse School of Economics, VCREM

No 21, Working Papers from Development and Policies Research Center (DEPOCEN), Vietnam

Abstract: This paper proves the existence of competitive equilibrium in a single-sector dynamic economy with heterogeneous agents and elastic labor supply. 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 Brouwer fixed point theorem.

Keywords: Optimal growth model; Lagrange multipliers; Competitive equilibrium; Elastic labor supply. (search for similar items in EconPapers)
JEL-codes: C61 D51 E13 O41 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2011
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Related works:
Journal Article: 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 (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 (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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