Ramsey equilibrium with liberal borrowing

نویسندگان
چکیده

برای دانلود باید عضویت طلایی داشته باشید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

On existence and bubbles of Ramsey equilibrium with borrowing constraints

We study the existence of equilibrium and rational bubbles in a Ramsey model with heterogeneous agents, borrowing constraints and endoge-

متن کامل

On the Ramsey Equilibrium with Heterogeneous Consumers

In this paper we address the question of deterministic cycles in a Ramsey model with heterogeneous in nite-lived agents and borrowing constraints, augmented to take into account the case of elastic labor supply. Under usual restrictions, not only we show that the steady state is unique, but also we clarify its stability properties through a local analysis. We nd that, in many cases, the introdu...

متن کامل

On Ramsey equilibrium with dependent preferences∗

This paper introduces consumption externalities in a one-sector Ramsey model with heterogeneous households and borrowing constraints. Externalities are taken into account by writing that the felicity functions depend on the consumption of all the households of the economy. Focusing on the class of equilibria in which the most patient household owns the whole capital stock, it is proved that the...

متن کامل

Ramsey Equilibrium in a Two-Sector Model with Heterogeneous Households

We prove an existence theorem for a stationary perfect foresight equilibrium under borrowing constraints in a two-sector model with infinitely lived heterogeneous agents. The most patient agent holds all the capital in this solution. We also show that if the capital goods sector is capital intensive and capital income is increasing in the aggregate capital stock, then the aggregate capital stoc...

متن کامل

Rochester Borrowing-proofness Borrowing-proofness

We formulate and study the requirement on an allocation rule that no agent should be able to benefit by augmenting his endowment through borrowing resources from the outside world (alternatively, by simply exaggerating it). We show that the Walrasian rule is not “borrowing-proof” even on standard domains. More seriously, no efficient selection from the endowments-lower-bound correspondence, or ...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: Journal of Mathematical Economics

سال: 2015

ISSN: 0304-4068

DOI: 10.1016/j.jmateco.2015.09.009