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

Cuong Le van and Manh Hung Nguyen

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

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; Modèle de croissance optimale; multiplicateurs de Lagrange; modèle de croissance à un secteur; équilibre compétitif; offre de travail endogène (search for similar items in EconPapers)
Date: 2005-10
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00197533v1
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Published in 2005

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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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