A study of the dynamic of influence through differential equations

Aditya Goenka, Cuong Le van and Manh Hung Nguyen

Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne

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 (search for similar items in EconPapers)
JEL-codes: C61 D51 E13 O41 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2011-04
New Economics Papers: this item is included in nep-dge
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Persistent link: https://EconPapers.repec.org/RePEc:mse:cesdoc:11023

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