Goenka, Aditya; Le Van, Cuong; Nguyen, Manh-Hung - In: Macroeconomic Dynamics 16 (2012) S1, pp. 33-51
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...