On existence and bubbles of Ramsey equilibrium with borrowing constraints
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| 024 | 7 | 0 | |a 10.1007/s00199-014-0810-6 |2 doi |
| 035 | |a (NATIONALLICENCE)springer-10.1007/s00199-014-0810-6 | ||
| 245 | 0 | 0 | |a On existence and bubbles of Ramsey equilibrium with borrowing constraints |h [Elektronische Daten] |c [Robert Becker, Stefano Bosi, Cuong Le Van, Thomas Seegmuller] |
| 520 | 3 | |a We study the existence of equilibrium and rational bubbles in a Ramsey model with heterogeneous agents, borrowing constraints and endogenous labor. Applying Kakutani's fixed-point theorem, we prove the existence of equilibrium in a time-truncated bounded economy. A common argument shows this solution to be an equilibrium for any unbounded economy with the same fundamentals. Taking the limit of a sequence of truncated economies, we eventually obtain the existence of equilibrium in the Ramsey model. In the second part of the paper, we address the issue of rational bubbles and we prove that they never occur in a productive economy à la Ramsey. | |
| 540 | |a Springer-Verlag Berlin Heidelberg, 2014 | ||
| 690 | 7 | |a Existence of equilibrium |2 nationallicence | |
| 690 | 7 | |a Bubbles |2 nationallicence | |
| 690 | 7 | |a Ramsey model |2 nationallicence | |
| 690 | 7 | |a Heterogeneous agents |2 nationallicence | |
| 690 | 7 | |a Borrowing constraint |2 nationallicence | |
| 690 | 7 | |a Endogenous labor |2 nationallicence | |
| 700 | 1 | |a Becker |D Robert |u Department of Economics, Indiana University, Bloomington, IN, USA |4 aut | |
| 700 | 1 | |a Bosi |D Stefano |u EPEE, University of Evry, Evry, France |4 aut | |
| 700 | 1 | |a Le Van |D Cuong |u IPAG Business School, CNRS, VCREME and PSE, Paris, France |4 aut | |
| 700 | 1 | |a Seegmuller |D Thomas |u Aix-Marseille University (Aix-Marseille School of Economics), CNRS-GREQAM and EHESS, Marseille, France |4 aut | |
| 773 | 0 | |t Economic Theory |d Springer Berlin Heidelberg |g 58/2(2015-02-01), 329-353 |x 0938-2259 |q 58:2<329 |1 2015 |2 58 |o 199 | |
| 856 | 4 | 0 | |u https://doi.org/10.1007/s00199-014-0810-6 |q text/html |z Onlinezugriff via DOI |
| 898 | |a BK010053 |b XK010053 |c XK010000 | ||
| 900 | 7 | |a Metadata rights reserved |b Springer special CC-BY-NC licence |2 nationallicence | |
| 908 | |D 1 |a research-article |2 jats | ||
| 949 | |B NATIONALLICENCE |F NATIONALLICENCE |b NL-springer | ||
| 950 | |B NATIONALLICENCE |P 856 |E 40 |u https://doi.org/10.1007/s00199-014-0810-6 |q text/html |z Onlinezugriff via DOI | ||
| 950 | |B NATIONALLICENCE |P 700 |E 1- |a Becker |D Robert |u Department of Economics, Indiana University, Bloomington, IN, USA |4 aut | ||
| 950 | |B NATIONALLICENCE |P 700 |E 1- |a Bosi |D Stefano |u EPEE, University of Evry, Evry, France |4 aut | ||
| 950 | |B NATIONALLICENCE |P 700 |E 1- |a Le Van |D Cuong |u IPAG Business School, CNRS, VCREME and PSE, Paris, France |4 aut | ||
| 950 | |B NATIONALLICENCE |P 700 |E 1- |a Seegmuller |D Thomas |u Aix-Marseille University (Aix-Marseille School of Economics), CNRS-GREQAM and EHESS, Marseille, France |4 aut | ||
| 950 | |B NATIONALLICENCE |P 773 |E 0- |t Economic Theory |d Springer Berlin Heidelberg |g 58/2(2015-02-01), 329-353 |x 0938-2259 |q 58:2<329 |1 2015 |2 58 |o 199 | ||