Edward C. Prescott

Edward C. Prescott
Prescott in 2015
Born	(1940-12-26)December 26, 1940 Glens Falls, New York, U.S.
Died	November 6, 2022(2022-11-06) (aged 81) Paradise Valley, Arizona, U.S.
Academic career
Institution	Australian National University (ANU) Arizona State University Carnegie Mellon University Federal Reserve Bank of Minneapolis Federal Reserve Bank of Richmond Northwestern University University of Minnesota University of Pennsylvania University of California, Santa Barbara University of Chicago New York University
School or tradition	New classical economics
Alma mater	Swarthmore College Case Western Reserve University Carnegie Mellon University
Doctoral advisor	Michael C. Lovell
Doctoral students	Costas Azariadis Gary Hansen Finn Kydland V. V. Chari Fernando Alvarez[1] Richard Rogerson
Influences	Morris H. DeGroot Robert Lucas, Jr. John Muth
Contributions	Real Business Cycle theory Time consistency in economic policy
Awards	Nobel Prize in Economics (2004)
Information at IDEAS / RePEc
Academic background
Thesis	Adaptive decision rules for macro economic planning (1967)

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Related fields Econometrics Economic statistics Monetary economics Development economics International economics
Schools Mainstream Keynesian Neo- New Monetarism New classical Real business-cycle theory Stockholm Supply-side New neoclassical synthesis Saltwater and freshwater Heterodox Austrian Chartalism Modern monetary theory Ecological Post-Keynesian Circuitism Disequilibrium Marxian Market monetarism
People François Quesnay Adam Smith Thomas Robert Malthus Karl Marx Léon Walras Knut Wicksell Irving Fisher Wesley Clair Mitchell John Maynard Keynes Alvin Hansen Michał Kalecki Gunnar Myrdal Simon Kuznets Joan Robinson Friedrich Hayek John Hicks Richard Stone Hyman Minsky Milton Friedman Paul Samuelson Lawrence Klein Edmund Phelps Robert Lucas Jr. Edward C. Prescott Peter Diamond William Nordhaus Joseph Stiglitz Thomas J. Sargent Paul Krugman N. Gregory Mankiw
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Edward Christian Prescott (December 26, 1940 – November 6, 2022) was an American economist. He received the Nobel Memorial Prize in Economics in 2004, sharing the award with Finn E. Kydland, "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles". This research was primarily conducted while both Kydland and Prescott were affiliated with the Graduate School of Industrial Administration (now Tepper School of Business) at Carnegie Mellon University. According to the IDEAS/RePEc rankings, he was the 19th most widely cited economist in the world in 2013.^[2] In August 2014, Prescott was appointed an Adjunct Distinguished Economic Professor at the Australian National University (ANU) in Canberra, Australia. Prescott died of cancer on November 6, 2022, at the age of 81.^[3][4][5]