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On the Existence of a Ramsey Equilibrium with Endogenous Labor Supply and Borrowing Constraints

Bosi, Stefano; Van, Cuong Le - Development and Policies Research Center (Depocen) - 2011

In this paper, we study the existence of an intertemporal equilibrium in a Ramsey model with heterogenous discounting, elastic labor supply and borrowing constraints. Applying a fixed-point argument by Gale and Mas-Colell (1975), we prove the existence of an equilibrium in a truncated bounded...

Persistent link: https://www.econbiz.de/10009275707

Optimal timing of regime switching in optimal growth models: A Sobolev space approach

Dogan, Erol; Van, Cuong Le; Saglam, Cagri - Development and Policies Research Center (Depocen) - 2010

This paper annalyses the optimal timing of switching between alternative and consecutive regimes on optimal growth models. We derive the appropriate necessary conditions for such problems by means of the standard techniques from calculus of variations and some basic properties of Sobolev spaces.

Persistent link: https://www.econbiz.de/10008751500

Existence, Optimality and Dynamics of Equilibria with Endogenous Time Preference

Van, Cuong Le; Saglam, Cagri; Erol, Selman - Development and Policies Research Center (Depocen) - 2011

paths are characterized. We show that development or poverty traps can arise even under a strictly convex technology. We …

Persistent link: https://www.econbiz.de/10008751503

When Does a Developing Country Use New Technologies?

Bruno, Olivier; Van, Cuong Le; Masquin, Benoît - Development and Policies Research Center (Depocen) - 2008

We develop a model of optimal pattern of economic development that is first rooted in physical capital accumulation and then in technical progress. We study an economy where capital accumulation and innovative activity take place within a two sector model. The first sector produces a consumption...

Persistent link: https://www.econbiz.de/10005070009

Non-convex Aggregate Technology and Optimal Economic Growth

Hung, N. M.; Van, Cuong Le; Michel, P. - Development and Policies Research Center (Depocen) - 2008

rate is either low enough or high enough, there will be one steady state equilibrium toward which the convergence of the … for having either one equilibrium or multiple equilibria steady state. Depending to whether the initial capital per capita … sufficient conditions to have either unique or two steady states when the discount rate is in some intermediate range . In the …

Persistent link: https://www.econbiz.de/10005028785

Equilibrium existence in the international asset and good markets

Bosi, Stefano; Fontaine, Patrice; Van, Cuong Le - Development and Policies Research Center (Depocen) - 2013

The international asset pricing models are mostly developed in the case of parity failure (investors of di?erent countries do not agree on the expected returns on securities). In this case, an equilibrium in the international asset markets may exist, but not in the international good markets. In...

Persistent link: https://www.econbiz.de/10010703379

Equilibrium on International Financial Assets and Goods Marke

Fontaine, Patrice; Van, Cuong Le - Development and Policies Research Center (Depocen) - 2010

The international asset pricing models are mostly developed in the situation where purchasing power parity (PPP) is not respected. Investors of dierent countries do not agree on expected security real returns. In this case, an equilibrium on the international assets market may exist but not on...

Persistent link: https://www.econbiz.de/10008763739

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

Goenka, Aditya; Van, Cuong Le; Nguyen, Manh-Hung - Development and Policies Research Center (Depocen) - 2011

This paper proves the existence of competitive equilibrium in a single-sector dynamic economy with heterogeneous agents and elastic labor supply. The method of proof relies on some recent results concerning the existence of Lagrange multipliers in infinite dimensional spaces and their...

Persistent link: https://www.econbiz.de/10008863962

Saving Rate, Total Factor Productivity and Growth Process for Developing Countries

Van, Cuong Le; Nguyen, Tu Anh; Tuan, Tran Dinh - Development and Policies Research Center (Depocen) - 2013

Persistent link: https://www.econbiz.de/10010700999

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

Goenka, Aditya; Van, Cuong Le; Nguyen, Manh-Hung - Development and Policies Research Center (Depocen) - 2012

This paper proves the existence of competitive equilibrium in a single-sector dynamic economy with heterogeneous agents and elastic labor sup- ply. The method of proof relies on some recent results concerning the existence of Lagrange multipliers in innite dimensional spaces and their...

Persistent link: https://www.econbiz.de/10010701929