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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Official URL: http://dep.eco.uniroma1.it/docs/working_papers/WP1...
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) |
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| 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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