In this seminar Akshay Shanker will provide an overview of his recent paper, ‘Global Optimum in Models with Individual Income Shocks’. The paper presents results to solve infinite horizon problems on infinite dimensional state space, and then uses the theoretical results to solve a planner problem with incomplete markets in a Aiyagari/Hugget model where people receive idiosyncratic shocks.

Akshay is a PhD student at CAMA. His research interests include growth theory and technological development.

The CAMA Macroeconomics Brown Bag Seminars offer CAMA speakers, in particular PhD students, an opportunity to present their work in progress in front of their peers, and reputable visitors to showcase their work.