Papers in Modern Economic Growth Theory

Akshay Shanker
This thesis seeks to develop our understanding of two emerging themes in economic growth theory: constrained optima in heterogeneous agent economies with non- trivial wealth distributions, and the relationship between energy use and long-run growth. The first paper proves the existence of constrained optima in a growth model with incomplete insurance markets and idiosyncratic risk, also known as the Aiyagari- Huggett model. A natural way to formulate an optimal policy problem in the Aiyagari-Huggett model...
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