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Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure

Aditya Goenka (), Cuong Le Van () and Manh Hung Nguyen ()
Additional contact information
Cuong Le Van: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, University of Exeter Business School - University of Exeter Business School, Hanoi WRU - Department of Economics, PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, 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 Lagrange multipliers in in nite dimensional spaces and their representation as a summable sequence and a direct application of the inward boundary fixed point theorem.

Keywords: Elastic labor supply.; Individually Rational Pareto Optimum; Elastic labor supply; Optimal growth model; Lagrange multipliers; Competitive equilib- rium (search for similar items in EconPapers)
Date: 2011-11
Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00639739
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Published in Macroeconomic Dynamics, Cambridge University Press (CUP), 2011, pp.1-19

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Related works:
Journal Article: EXISTENCE OF COMPETITIVE EQUILIBRIUM IN AN OPTIMAL GROWTH MODEL WITH HETEROGENEOUS AGENTS AND ENDOGENOUS LEISURE (2012) Downloads
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2012) Downloads
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2011) Downloads
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2011) Downloads
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2011) Downloads
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2011) Downloads
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2011) Downloads
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2010) Downloads
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2010) Downloads
Working Paper: Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure (2008) Downloads
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