Complementarity Modeling of a Ramsey-Type Equilibrium Problem with Heterogeneous Agents

On the Ramsey Equilibrium with Heterogeneous Consumers

In this paper we address the question of deterministic cycles in a Ramsey model with heterogeneous in nite-lived agents and borrowing constraints, augmented to take into account the case of elastic labor supply. Under usual restrictions, not only we show that the steady state is unique, but also we clarify its stability properties through a local analysis. We nd that, in many cases, the introdu...

Ramsey Equilibrium in a Two-Sector Model with Heterogeneous Households

We prove an existence theorem for a stationary perfect foresight equilibrium under borrowing constraints in a two-sector model with infinitely lived heterogeneous agents. The most patient agent holds all the capital in this solution. We also show that if the capital goods sector is capital intensive and capital income is increasing in the aggregate capital stock, then the aggregate capital stoc...

On a Ramsey-type problem

Financial Markets Equilibrium with Heterogeneous Agents

This paper presents an equilibrium model in a pure exchange economy when investors have three possible sources of heterogeneity. Investors may differ in their beliefs, in their level of risk aversion and in their time preference rate. We study the impact of investors heterogeneity on the properties of the equilibrium. In particular, we analyze the consumption shares, the market price of risk, t...

On a Ramsey Type Problem of Shelah

Shelah used a Ramsey type statement in his new proof of Vander Waerden's theorem ([5]). It was formulated in [3] as a coloring problem on mesh clique graphs: find the smallest n = F(r) such that in any r-coloring of the edges of Kn x Kn there exists a K 2 x K2 whose opposite edges have the same color. Here the trivial upper bound on F(r) is improved using the Fisher inequality on hypergraphs wi...