Equilibrium dynamics in an aggregative model of capital accumulation with heterogeneous agents and elastic labor

Cuong Le Van (levan@univ-paris1.fr), Manh Hung Nguyen and Yiannis Vailakis (vailakis@univ-paris1.fr)
Additional contact information
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
Yiannis Vailakis: CERMSEM - CEntre de Recherche en Mathématiques, Statistique et Économie Mathématique - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique

Post-Print from HAL

Abstract: The paper extends the canonical representative agent Ramsey model to include heterogeneous agents and elastic labor supply. The welfare maximization problem is analyzed and shown to be equivalent to a non-stationary reduced form model. An iterative procedure is exploited to prove the supermodularity of the indirect utility function. Supermodularity is subsequently used to establish the convergence of optimal paths.

Keywords: Single-sector growth model; heterogeneous agents; elastic labor supply; Modèle de croissance à un secteur; agents hétérogènes; offre de travail élastique; supermodularité (search for similar items in EconPapers)
Date: 2005-12
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00197560v1
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in 2005

Downloads: (external link)
https://shs.hal.science/halshs-00197560v1/document (application/pdf)

Related works:
Journal Article: Equilibrium dynamics in an aggregative model of capital accumulation with heterogeneous agents and elastic labor (2007)
Working Paper: Equilibrium dynamics in an aggregative model of capital accumulation with heterogeneous agents and elastic labor (2007)
Working Paper: Equilibrium dynamics in an aggregative model of capital accumulation with heterogeneous agents and elastic labor (2007)
Working Paper: Equilibrium dynamics in an aggregative model of capital accumulation with heterogeneous agents and elastic labor (2005)
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:hal:journl:halshs-00197560

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD (hal@ccsd.cnrs.fr).