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

Please use this identifier to cite or link to this item: https://doi.org/10.1017/S1365100511000587

Title:	Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure
Authors:	Goenka, A. Le Van, C. Nguyen, M.-H.
Keywords:	Competitive Equilibrium Elastic Labor Supply Lagrange Multipliers Optimal Growth Model
Issue Date:	Apr-2012
Citation:	Goenka, A., Le Van, C., Nguyen, M.-H. (2012-04). Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure. Macroeconomic Dynamics 16 (SUPPL. 1) : 33-51. ScholarBank@NUS Repository. https://doi.org/10.1017/S1365100511000587
Abstract:	This paper proves the existence of competitive equilibrium in a single-sector dynamic economy with heterogeneous agents, elastic labor supply, and complete asset markets. The method of proof relies on some recent results concerning the existence of Lagrange multipliers in infinite-dimensional spaces and their representation as a summable sequence and a direct application of the inward-boundary fixed point theorem. © 2012 Cambridge University Press.
Source Title:	Macroeconomic Dynamics
URI:	http://scholarbank.nus.edu.sg/handle/10635/124330
ISSN:	13651005
DOI:	10.1017/S1365100511000587
Appears in Collections:	Staff Publications

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