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

DOI10.1017/S1365100511000587zbMATH Open1246.91084MaRDI QIDQ2907905FDOQ2907905

Authors: Aditya Goenka, Cuong Le Van, Manh-Hung Nguyen 

Publication date: 4 September 2012

Published in: Macroeconomic Dynamics (Search for Journal in Brave)

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• General existence of competitive equilibrium in the growth model with an endogenous labor-leisure choice
• Existence of a competitive equilibrium in a one sector growth model with heterogeneous agents and irreversible investment
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zbMATH Keywords

Lagrange multiplierscompetitive equilibriumelastic labor supplyoptimal growth model

Mathematics Subject Classification ID

Economic dynamics (91B55) Economic growth models (91B62) Heterogeneous agent models (91B69)

Cites Work

• An integration of equilibrium theory and turnpike theory
• WELFARE ECONOMICS AND EXISTENCE OF AN EQUILIBRIUM FOR A COMPETITIVE ECONOMY
• Markets with Countably Many Commodities
• Optimal growth models and the Lagrange multiplier
• Lagrange multipliers in infinite horizon discrete time optimal control models
• Equilibria of a stationary economy with recursive preferences
• Equilibrium dynamics in an aggregative model of capital accumulation with heterogeneous agents and elastic labor

Cited In (7)

• Optimal growth with heterogeneous agents and the twisted turnpike: An example
• Existence of a competitive equilibrium in a one sector growth model with heterogeneous agents and irreversible investment
• Existence of a competitive equilibrium in the Lucas (1988) model without physical capital
• Stochastic optimal growth with risky labor supply
• A discrete heterogeneous-group economic growth model with endogenous leisure time
• Equilibrium dynamics in an aggregative model of capital accumulation with heterogeneous agents and elastic labor
• General existence of competitive equilibrium in the growth model with an endogenous labor-leisure choice

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