Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/70447
Authors: 
Becker, Robert A.
Mitra, Tapan
Year of Publication: 
2011
Series/Report no.: 
CAE Working Paper 11-02
Abstract: 
Ramsey equilibrium models with heterogeneous agents and borrowing constraints are shown to yield efficient equilibrium sequences of aggregate capital and consumption. The proof of this result is based on verifying that equilibrium sequences of prices satisfy the Malinvaud criterion for efficiency.
Document Type: 
Working Paper

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