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...

This paper studies an optimal endogenous growth model using physical capital, labor and two kinds of natural resources in the final goods sector and employing labor to accumulate knowledge. Based on results in calculus of variations, a direct proof of existence of optimal solution is provided....

This paper develops a framework to study the economic impact of infectious diseases by integrating epidemiological dynamics into a continuous time neo-classical growth model. There is a two way interaction between the economy and the disease: the incidence of the disease affects labor supply and...

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...

This paper analyzes the transitional dynamics in a model of economic growth with endogenous technological change and two alternative sources of energy: renewable and non-renewable resources. The conditions for the existence and saddle point property of the steady state are given. Finally, we...

In transitional stage saving rate play an important role in output growth rate as proposed by Krugman. Accumulationists are also right as claiming that learning-by-doing play an important role in TFP growth in NIEs. However, using a CES production technology we can show that the growth model...

We consider a developing country with three sectors in economy: consumption goods, new technology, and education. Productivity of the consumption goods sector depends on new technology and skilled labor used for production of the new technology. We show that there might be three stages of...

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 inï¬nite dimensional spaces and their...