Existence of competitive equilibrium in a single-sector growth model with heterogeneous agents and endogenous leisure

We prove the existence of competitive equilibrium in a single-sector dynamic economy with heterogeneous agents and elastic labor supply. The method of proof relies on exploiting the existence of Lagrange multipliers in infinite dimensional spaces and the link between Pareto-optima and competitive equilibria.

MoreLess

Year of publication:	2005-10
Authors:	Van, Cuong Le ; Nguyen, Manh-Hung
Institutions:	HAL
Subject:	Optimal growth model \| Lagrange multipliers \| single-sector growth model \| competitive equilibrium \| elastic labor supply

More details

Extent:	application/pdf
Series:	Post-Print.
Type of publication:	Book / Working Paper
Notes:	View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00197533
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010750941