Professor Laura Marsiliani laura.marsiliani@durham.ac.uk
Professor
Integrated aggregation in dynamic economies
Marsiliani, Laura; Renstroem, Thomas
Authors
Thomas Renstroem
Abstract
The paper provides necessary and sufficient conditions for aggregation of heterogeneousindividuals in dynamic economies, when individuals differ in abilities as well as in capitalendowments, and when there are distortionary taxes. The aggregation theorems imply that thecompetitive equilibrium can be represented as if there was only one individual in theeconomy. This considerably facilitates analysis of the aggregate economy, such as stabilityanalysis, as well as of the distribution of wealth. Furthermore, the paper provides conditionsunder which a representative individual coincides with one of the individuals in the economy.
Citation
Marsiliani, L., & Renstroem, T. (2009). Integrated aggregation in dynamic economies
Publication Date | Dec 1, 2009 |
---|---|
Deposit Date | Dec 7, 2012 |
Publicly Available Date | Dec 7, 2012 |
Series Title | Durham University Business School Economics Finance Accounting Working Papers |
Keywords | Aggregation, Economic dynamics, Heterogeneity, JEL classifcation: D30 D91 E21. |
Public URL | https://durham-repository.worktribe.com/output/1699661 |
Publisher URL | http://www.dur.ac.uk/business/faculty/working-papers/ |
Files
Published Working Paper
(198 Kb)
PDF
You might also like
Theory of Socially Responsible Investment: A Review
(2023)
Book Chapter
The Vulnerability to Oil Price Shocks of the Bangladesh Economy
(2022)
Book Chapter
Decarbonisation Policies and Energy Price Reforms in Bangladesh
(2022)
Journal Article
The Case of Waste to Energy in Bangladesh
(2022)
Book Chapter
Downloadable Citations
About Durham Research Online (DRO)
Administrator e-mail: dro.admin@durham.ac.uk
This application uses the following open-source libraries:
SheetJS Community Edition
Apache License Version 2.0 (http://www.apache.org/licenses/)
PDF.js
Apache License Version 2.0 (http://www.apache.org/licenses/)
Font Awesome
SIL OFL 1.1 (http://scripts.sil.org/OFL)
MIT License (http://opensource.org/licenses/mit-license.html)
CC BY 3.0 ( http://creativecommons.org/licenses/by/3.0/)
Powered by Worktribe © 2024
Advanced Search