Papers by manh hung nguyen
Claus Kuperschmidt Thomas Kaiser Institut for Communication Engineering Leibniz University of Han... more Claus Kuperschmidt Thomas Kaiser Institut for Communication Engineering Leibniz University of Hanover Appelstr. 9A 30167 Hanover, Germany [email protected] ... Truong Vu Bang Giang Tien Hoa Nguyen Faculty of Electronics and Telecommunications University ...
The paper extends the canonical representative agent Ramsey model to include heterogeneous agents... more The paper extends the canonical representative agent Ramsey model to include heterogeneous agents and elastic labor supply. The welfare maximization problem is analyzed and shown to be equivalent to a non-stationary reduced form model. An iterative procedure is exploited to prove the supermodularity of the indirect utility function. Supermodularity is subsequently used to establish the convergence of optimal paths.
In this paper we first give an elementary proof of existence of equilibrium with dividends in an ... more In this paper we first give an elementary proof of existence of equilibrium with dividends in an economy with possibly satiated consumers. We then introduce a no-arbitrage condition and show that it is equivalent to the existence of equilibrium with dividends.
We consider a general equilibrium model in asset markets with a countable set of states and expec... more We consider a general equilibrium model in asset markets with a countable set of states and expected risk averse utilities. The agents do not have the same beliefs. We use the methods in Le Van -Truong Xuan (JME, 2001) but one of their assumption which is crucial for obtaining their result cannot be accepted in our model when the number of states is countable. We give a proof of existence of equilibrium when the number of states is infinite or finite.
We consider a general equilibrium model in asset markets with a countable set of states and expec... more We consider a general equilibrium model in asset markets with a countable set of states and expected risk averse utilities. The agents do not have the same beliefs. We use the methods in Le Van -Truong Xuan (JME, 2001) but one of their assumption which is crucial for obtaining their result cannot be accepted in our model when the number of states is countable. We give a proof of existence of equilibrium when the number of states is infinite or finite.
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Papers by manh hung nguyen