A simple proof of existence of equilibrium in a one sector growth model with bounded or unbounded returns from below

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A simple proof of existence of equilibrium in a one sector growth model with bounded or unbounded returns from below

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DURAN, Jorge
LE VAN, Cuong

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Jorge Durán

Abstract

We analyze a Ramsey economy when net investment is constrained to be non negative. We prove existence of a competitive equilibrium when utility need not be bounded from below and the Inada-type conditions need not hold. The analysis is carried out by means of a direct and technically standard strategy. This direct strategy (a) allows us to obtain detailed results concerning properties of competitive equilibria, and (b) is amenable to be easily adapted for the analysis of analogousmodels often found in macroeconomics.

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Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 2000050.

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Date of creation: 01 Oct 2000
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Handle: RePEc:cor:louvco:2000050

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Paper
- Duran, Jorge & Le Van, Cuong, 2000. "A simple proof of existence of equilibrium in a one sector growth modelp with bounded or unbounded returns from below," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2000025, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES). [Downloadable!]

Find related papers by JEL classification:
C62 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Existence and Stability Conditions of Equilibrium
D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical

References listed on IDEAS
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Peleg, Bezalel & Yaari, Menahem E, 1970. "Markets with Countably Many Commodities," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 11(3), pages 369-77, October. [Downloadable!] (restricted)
Aliprantis, Charalambos D. & Border, Kim C. & Burkinshaw, Owen, 1997. "New Proof Of The Existence Of Equilibrium In A Single-Sector Growth Model," Macroeconomic Dynamics, Cambridge University Press, vol. 1(04), pages 669-679, December. [Downloadable!]
Bewley, Truman F., 1972. "Existence of equilibria in economies with infinitely many commodities," Journal of Economic Theory, Elsevier, vol. 4(3), pages 514-540, June. [Downloadable!] (restricted)

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