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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Cuong Le Van: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, University of Exeter Business School - University of Exeter, VCREME - Van Xuan Center of Research in Economics, Management and Environment

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Abstract: This paper proves the existence of competitive equilibrium in a single-sector dynamic economy with heterogeneous agents, elastic labor supply and complete assets markets. The method of proof relies on some recent results concerning the existence of Lagrande multipliers in infinite dimensional spaces and their representation as a summable sequence and a direct application of the inward boundary fixed point theorem.

Keywords: Optimal growth model; Lagrange multipliers; competitive equilibrium; individually rational Pareto Optimum; elastic labor supply.; Modèle de croissance optimale; multiplicateurs de Lagrange; équilibre compétitive; offre de travail endogène. (search for similar items in EconPapers)
Date: 2011-04
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00593945v1
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Citations: View citations in EconPapers (4)

Published in 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)
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