Intertemporal Equilibrium and Walras' Theory of Capital: a Projection Based Approach

Impicciatore, Galeazzo and Panaccione, Luca and Ruscitti, Francesco (2009) Intertemporal Equilibrium and Walras' Theory of Capital: a Projection Based Approach. Working Paper. Dipartimento di Economia Pubblica, Università di Roma La Sapienza, Roma, Italia.

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Abstract

In this paper we analyze the intertemporal competitive equilibrium of a walrasian model of capital accumulation. We prove the existence of equilibria by generalizing a result of Todd (1979). We overcome the indeterminacy in savings allocation to multiple types of capital goods by introducing a decreasing-return-to-scale storage technology. We finally verify that, for stored capital goods, equality of rates of returns is satis fied in equilibrium.

Item Type: Monograph (Working Paper)
Additional Information: JEL Classifi cation: B21, C60, C62, D51
Uncontrolled Keywords: Walras, Capital Goods, Activity Analysis, General Equilibrium
Subjects: 300 Scienze sociali > 330 Economia
Depositing User: Dipartimento economia e diritto
Date Deposited: 21 May 2009
Last Modified: 20 May 2010 12:02
URI: http://eprints.bice.rm.cnr.it/id/eprint/886

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