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Aditya Goenka, Cuong Le Van, Manh-Hung Nguyen, 2012. "Existence of competitive equilibrium in an
optimal growth model with heterogeneous agents
and endogenous leisure"
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| Abstract: |
| 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 in nite dimensional spaces and their representation
as a summable sequence and a direct application of the Brouwer xed point
theorem. |
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