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depocen@depocen.org
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024 39351419
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024 39351418
Robert Becker
On existence, efficiency and bubbles of Ramsey equilibrium with borrowing constraints
Xuất bản: 27 July, 2022
We address the fundamental issues of existence and efficiency of an equilibrium in a Ramsey model with many agents, where agents have heterogenous discounting, elastic labor supply and face borrowing constraints. The existence of rational bubbles is also...
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View abstractOn the existence, efficiency and bubbles of a Ramsey equilibrium with endogenous labor supply and borrowing...
Xuất bản: 27 July, 2022
In this paper, we study the existence of an intertemporal equilibrium in a Ramsey model with heterogenous discounting, elastic labor supply and borrowing constraints. Applying a fixed-point argument by Gale and Mas-Colell (1975), we prove the existence...