| Share
 

Edward Christian Prescott

Prescott, Edward Christian, 1940–, American economist, b. Glen Falls, N.Y., Ph.D. Carnegie Mellon Univ., 1967. Prescott has taught at Carnegie Mellon (1971–80), the Univ. of Minnesota (1980–98, 1999–2003), Arizona State Univ. (2003–), and other institutions. He also has been a senior adviser to the Research Dept., Federal Reserve Bank of Minneapolis, since 1980 (senior monetary adviser since 2003). He received the 2004 Nobel Memorial Prize in Economic Sciences with Finn Kydland for their joint contributions to dynamic microeconomics. Their study of government economic policy showed why, due to expectations and reactions to them, the best policies are often not implemented consistently over time. They also demonstrated microeconomic, supply-side influences on the business cycle, integrating theories of business cycles and of long-term economic growth.

The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.

See more Encyclopedia articles on: Economics: Biographies


Premium Partner Content
HighBeam Research
Documents Images and Maps Reference
(from Newspapers, Magazines, Journals, Newswires, Transcripts and Books)

Research our extensive archive of more than 80 million articles from 6,500 publications.

Additional search results provided by HighBeam Research, LLC. © Copyright 2005. All rights reserved.

24 X 7

Private Tutor

Click Here for Details
24 x 7 Tutor Availability
Unlimited Online Tutoring
1-on-1 Tutoring