Simple Proof of Existence of Equilibrium in a One-Sector Growth Model with Bounded or Unbounded Returns from below

Durán, Jorge; Le Van, Cuong

Simple Proof of Existence of Equilibrium in a One-Sector Growth Model with Bounded or Unbounded Returns from below

Jorge Durán and Cuong Le Van ()
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Cuong Le Van: CERMSEM - CEntre de Recherche en Mathématiques, Statistique et Économie Mathématique - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique

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Abstract: We analyze a Ramsey economy in which gross investment is constrained to be nonnegative. We prove the existence of a competitive equilibrium for the case in which utility need not be bounded from below and the Inada-type conditions need not hold. The analysis is carried out by means of a direct and technically standard approach. This direct approach allows us to obtain detailed results concerning properties of competitive equilibria, and is easily adapted for the analysis of analogous models often found in macroeconomics.

Keywords: Ramsey Model; One-Sector Growth Model; Nonegative Gross Investment; Competitive Equilibrium (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (3)

Published in Macroeconomic Dynamics, 2003, 7 (3), pp.317-332. ⟨10.1017/S1365100502020047⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00119082

DOI: 10.1017/S1365100502020047

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