On the Impatience Foundations of Long-run Heterogeneity

J.-P. Drugeon

Papiers d'Economie Mathématique et Applications from Université Panthéon-Sorbonne (Paris 1)

Abstract: This article is aimed at the reconsideration of Ramsey long-run distribution concerns, i.e., the so-called impatience problem, when consumption paths display homothetic growth. Is it possible for heterogeneous agents to survive in the course of an equilibrium characterised by a common growth rate in spite of their dissimilarity ? For a two consumers environment, it is first recalled that it is only under an implausible knife-edge condition that involves individuals preferences plus techological parameters that a separable representation with an invariant rate of impatience can allow for positive consumption growth rates for both agents.

Keywords: DISTRIBUTION; CONSUMPTION; GROWTH RATE (search for similar items in EconPapers)
JEL-codes: D90 E32 O40 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2000
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fth:pariem:2000.123

Access Statistics for this paper

More papers in Papiers d'Economie Mathématique et Applications from Université Panthéon-Sorbonne (Paris 1) France; Universite de Paris I - Pantheon- Sorbonne, 12 Place de Pantheon-75005 Paris, France. Contact information at EDIRC.
Bibliographic data for series maintained by Thomas Krichel ().