Edward C. Prescott


Edward C. Prescott

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Edward C. Prescott
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2004

Born: 26 December 1940, Glens Falls, NY, USA

Affiliation at the time of the award: Arizona State University, Tempe, AZ, USA, Federal Reserve Bank of Minneapolis, Minneapolis, MN, USA

Prize motivation: "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles."

Contribution: Showed that economic policies are often plagued by problems of time inconsistency. Demonstrated that society could gain from prior commitment to economic policy. Introduced new ideas about economic policy design and the driving forces behind business cycles.

Prize share: 1/2

To cite this section
MLA style: Edward C. Prescott – Facts. NobelPrize.org. Nobel Prize Outreach AB 2021. Fri. 3 Dec 2021. <https://www.nobelprize.org/prizes/economic-sciences/2004/prescott/facts/>

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