scholarly journals General existence of competitive equilibrium in the growth model with an endogenous labor–leisure choice

2020 ◽  
Vol 91 ◽  
pp. 90-98
Author(s):  
Aditya Goenka ◽  
Manh-Hung Nguyen
Keyword(s):  
Growth Model ◽  
Competitive Equilibrium ◽  
General Existence ◽  
Endogenous Labor

Competitive equilibrium cycles with endogenous labor

2005 ◽  
Vol 41 (3) ◽  
pp. 325-349 ◽  
Author(s):  
Stefano Bosi ◽  
Francesco Magris ◽  
Alain Venditti
Keyword(s):  
Competitive Equilibrium ◽  
Endogenous Labor

scholarly journals Growth and ideas in a perfectly competitive world: A complement

2021 ◽  
Vol 10 (2) ◽  
pp. 157-163
Author(s):  
Vincent Boitier
Keyword(s):  
Growth Model ◽  
Monopolistic Competition ◽  
Competitive Equilibrium ◽  
Returns To Scale ◽  
Perfect Competition ◽  
Household Economy ◽  
Short Article ◽  
Long Run ◽  
Balanced Growth Path ◽  
The One

In this short article, I build an idea-based growth model with perfect competition in a representative household economy. I obtain significant findings that confirm Boitier (2019). First, a competitive equilibrium, increasing returns to scale, and innovations can be tenable. For that, firms must raise capital from shareholders, and the production function must show decreasing returns to scale in the stock of ideas and in labor. Second, the developed idea-based growth model admits a balanced growth path similar to the one provided in an idea-based growth model with monopolistic competition. Whether innovations are competitive or thrive under monopolistic competition does not constitute an engine-driving long-run growth. Importantly, this reconciles Romer (1990, 2015) with Boldrin and Levine (2008).

SIMPLE PROOF OF EXISTENCE OF EQUILIBRIUM IN A ONE-SECTOR GROWTH MODEL WITH BOUNDED OR UNBOUNDED RETURNS FROM BELOW

2003 ◽  
Vol 7 (3) ◽  
pp. 317-332 ◽  
Author(s):  
Jorge Durán ◽  
Cuong Le Van
Keyword(s):  
Growth Model ◽  
Simple Proof ◽  
Competitive Equilibrium ◽  
Direct Approach ◽  
Standard Approach ◽  
Existence Of Equilibrium ◽  
Competitive Equilibria

We analyze a Ramsey economy in which gross investment is constrained to be nonnegative. We prove the existence of a competitive equilibrium for the case in which 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 approach. This direct approach allows us to obtain detailed results concerning properties of competitive equilibria, and is easily adapted for the analysis of analogous models often found in macroeconomics.

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