Showing 1 - 10 of 83
This paper proves the existence of competitive equilibrium in a single-sector dynamic economy with heterogeneous agents, elastic labor supply and complete assets markets. The method of proof relies on some recent results concerning the existence of Lagrande multipliers in infinite dimensional...
Persistent link: https://www.econbiz.de/10009022061
This paper proves the existence of competitive equilibrium in a single-sector dynamic economy with heterogeneous agents, elastic labor supply and complete assets markets. The method of proof relies on some recent results concerning the existence of Lagrange multipliers in in nite dimensional...
Persistent link: https://www.econbiz.de/10009370871
This paper analyses the optimal timing of switching between alternative and consecutive regimes in 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/10009372723
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/10009372730
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/10009228932
We consider a general equilibrium model with heterogeneous agents, borrowing constraints, and exogenous labor supply. First, the existence of intertemporal equilibrium is proved even if the aggregate capitals are not uniformly bounded above and the production functions are not time invariant....
Persistent link: https://www.econbiz.de/10010795542
'hypothèse cruciale est que le coût du capital physique, grâce aux contacts sociaux diminue par rapport aux dépenses en capital social …. Dans le modèle théorique, nous montrons qu'il existe un seuil critique de l'épargne destinée aux dépenses en capital social …
Persistent link: https://www.econbiz.de/10010795543
the existence of an individually rational efficient allocation or of an equilibrium is that the relative interiors of the …Dans ce papier, nous étudions de nouveau le problème d'existence d'allocations efficaces et d'équilibres quand les …'intersection des intérieurs des ensembles de probabilités ajustées du risque est non vide. Ensuite, nous généralisons le modèle avec …
Persistent link: https://www.econbiz.de/10010795545
Dans ce papier, nous étudions le problème d'existence d'équilibres et de bulles rationnelles dans un modèle de Ramsey … une économie avec un nombre fini de périodes en utilisant le théorème de point fixe de Kakutani. Ensuite, nous faisons … tendre le nombre de périodes vers l'infini pour obtenir un équilibre pour un nombre infini de périodes. Dans la deuxième …
Persistent link: https://www.econbiz.de/10010795548
We study the existence of equilibrium and rational bubbles in a Ramsey model with heterogeneous agents, borrowing constraints and endogenous labor. Applying a nonstandard fixed-point theorem by Gale and Mas-Colell's (1975), we prove the existence of equilibrium in a time-truncated bounded...
Persistent link: https://www.econbiz.de/10010721444