Li, Wu (2010): A Study on Dynamic General Equilibrium under the Classical Growth Framework.
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Abstract
The equilibrium analyses under the classical growth framework mainly concern production processes so far and the utilitymaximization of consumers is not considered sufficiently. Treating a consumer as a producer of labor or landuse right etc. with a utility parameter, this paper presents equilibrium formulas taking account of the utilitymaximization of consumers, which may facilitate the analysis of dynamic general equilibrium involving both profitmaximizing firms and utilitymaximizing consumers under the classical growth framework. For concreteness, some numerical examples with CobbDouglas production and utility functions are utilized to illustrate the method of the equilibrium analysis involving utilitymaximizing consumers.
Item Type:  MPRA Paper 

Original Title:  A Study on Dynamic General Equilibrium under the Classical Growth Framework 
Language:  English 
Keywords:  dynamic general equilibrium; utility; Sraffian system; von Neumann growth model; land rent 
Subjects:  B  History of Economic Thought, Methodology, and Heterodox Approaches > B5  Current Heterodox Approaches > B51  Socialist ; Marxian ; Sraffian Q  Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q2  Renewable Resources and Conservation > Q24  Land D  Microeconomics > D5  General Equilibrium and Disequilibrium > D58  Computable and Other Applied General Equilibrium Models C  Mathematical and Quantitative Methods > C6  Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C67  InputOutput Models 
Item ID:  25882 
Depositing User:  Wu LI 
Date Deposited:  18. Oct 2010 15:15 
Last Modified:  15. Feb 2013 21:45 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/25882 
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A Study on Dynamic General Equilibrium under the Classical Growth Framework. (deposited 01. Oct 2010 00:26)
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