The Lagrange multipliers and existence of competitive equilibrium in an intertemporal model with endogenous leisure.

This paper proves the existence of competitive equilibrium in a single sector dynamic economy with elastic labor supply. The method of proof relies on some recent results (see Le Van and Saglam [2004]) concerning the existence of Lagrange multipliers in infinite dimensional spaces and their representation as a summable sequence.

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Year of publication:	2005-01
Authors:	Hung, Nguyen Manh ; Van, San Nguyen
Institutions:	Maison des Sciences Économiques, Université Paris 1 (Panthéon-Sorbonne)
Subject:	Optimal growth model \| Lagrange multipliers \| competitive equilibrium \| elastic labor supply

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Extent:	application/pdf
Series:	Cahiers de la Maison des Sciences Economiques. - ISSN 1624-0340.
Type of publication:	Book / Working Paper
Notes:	16 pages
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; C62 - Existence and Stability Conditions of Equilibrium ; D51 - Exchange and Production Economies ; E13 - Neoclassical ; O41 - One, Two, and Multisector Growth Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005220190