A Note on Equilibrium with Capital Goods, Storage and Production
AbstractIn this paper, we study a two-period economy with production, capital goods and storage. For this economy, we propose a suitable equilibrium concept, and we prove existence of equilibrium. We also show that equality of rates of return for stored capital goods endogenously emerges as a consequence of consumersâ€™ optimizing behavior.
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Bibliographic InfoPaper provided by University of Rome La Sapienza, Department of Public Economics in its series Working Papers with number 99.
Date of creation: Jun 2007
Date of revision:
Capital goods; storage; existence; equality of rates of return.;
Find related papers by JEL classification:
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
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- Todd, Michael J., 1979. "A note on computing equilibria in economies with activity analysis models of production," Journal of Mathematical Economics, Elsevier, vol. 6(2), pages 135-144, July.
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