Simple Proof of Existence of Equilibrium in a Single-Sector Growth Model with Elastic Labor∗
نویسنده
چکیده
We prove existence of a competitive equilibrium in a version of a Ramsey model in which leisure enters the utility function. The analysis is carried out by means of a direct and technically simple approach that allows us to obtain detailed results concerning the behavior of equilibrium allocations and prices.
منابع مشابه
Existence of Competitive Equilibrium in a Single-Sector Growth Model with Elastic Labor
We prove existence of competitive equilibrium in a version of a Ramsey model in which leisure enters the utility function. The analysis is carried out by means of a direct and technically simple approach that allows us to obtain detailed results concerning the behavior of equilibrium allocations and prices.
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