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

DOI10.1017/S1365100511000587MaRDI QIDQ2907905zbMATH OpenFDO

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

Publication date 4 September 2012

Published in Macroeconomic Dynamics (Search for Journal in Brave)

zbMATH Keywords

Lagrange multiplierscompetitive equilibriumelastic labor supplyoptimal growth model

Mathematics Subject Classification ID

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

Recommendations

• 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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• Existence of a competitive equilibrium in the Lucas (1988) model without physical capital
• Equilibrium dynamics in an aggregative model of capital accumulation with heterogeneous agents and elastic labor

Cites work

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

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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