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Existence of a competitive equilibrium in the Lucas (1988) model without physical capital

Author

Listed:
  • Hippolyte d'Albis

    (GREMAQ - Groupe de recherche en économie mathématique et quantitative - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique)

  • Cuong Le Van

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

This paper considers an endogenous growth model with human capital accumulation. It gives sufficient conditions and a necessary condition for the existence of a unique competitive equilibrium with externalities. These conditions are more stringent than those which prevail for the existence of an equilibrium defined as the solution to a fixed-point problem.

Suggested Citation

  • Hippolyte d'Albis & Cuong Le Van, 2006. "Existence of a competitive equilibrium in the Lucas (1988) model without physical capital," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00101208, HAL.
    • Handle: RePEc:hal:cesptp:halshs-00101208
    DOI: 10.1016/j.jmateco.2005.04.001
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    Cited by:

    1. Bosi, Stefano & Camacho, Carmen & Le Van, Cuong, 2024. "A model of growth with living capital," Journal of Mathematical Economics, Elsevier, vol. 113(C).
    2. Cuong Le Van & Ngoc-Sang Pham & Thi Kim Cuong Pham & Binh Tran-Nam, 2025. "Governance, productivity and economic development," Working Papers hal-05163866, HAL.
    3. d’Albis, Hippolyte & Augeraud-Veron, Emmanuelle & Venditti, Alain, 2012. "Business cycle fluctuations and learning-by-doing externalities in a one-sector model," Journal of Mathematical Economics, Elsevier, vol. 48(5), pages 295-308.
    4. Aditya Goenka & Lin Liu, 2020. "Infectious diseases, human capital and economic growth," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 70(1), pages 1-47, July.
    5. Augeraud-Veron, Emmanuelle & Boucekkine, Raouf & Gozzi, Fausto & Venditti, Alain & Zou, Benteng, 2024. "Fifty years of mathematical growth theory: Classical topics and new trends," Journal of Mathematical Economics, Elsevier, vol. 111(C).
    6. Raouf Boucekkine & Blanca Martínez & José Ramón Ruiz‐Tamarit, 2008. "Note on global dynamics and imbalance effects in the Lucas–Uzawa model," International Journal of Economic Theory, The International Society for Economic Theory, vol. 4(4), pages 503-518, December.
    7. Bosi, Stefano & Le Van, Cuong & Phung, Giang, 2025. "Economic growth with brown or green capital," Journal of Mathematical Economics, Elsevier, vol. 117(C).
    8. Jean-Michel Grandmont, 2013. "Tribute to Cuong Le Van," International Journal of Economic Theory, The International Society for Economic Theory, vol. 9(1), pages 5-10, March.

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