Barbar, Riham; Ismael, Mohanad - Centre d'Études des Politiques Économiques (EPEE), … - 2011
We consider a Ramsey model with heterogeneous agents and borrow- ing constraint. Heterogeneity across agents stems from di¤erent initial capital endowment, labor supply, felicity function and discount rate. For simplicity, heterogeneity is reduced to only two groups of agents where they are...