Nobel Laureate

Edward Prescott
Professor, W. P. Carey School of Business

Edward Prescott, Regents' Professor, W. P. Carey Chair in Economics and Guggenheim Fellow shared the 2004 Nobel Prize in Economic Sciences for work on dynamic macroeconomics and driving forces behind business cycles with Finn Kydland. They were cited for transforming “economic research and profoundly influencing the practice of economic policy in general and monetary policy in particular.” His current projects include studies of technology capital and the U.S. current account; financial intermediation and financial crises; technology capital openness and development; the needed quantity of government debt; lifetime aggregate labor supply with endogenous workweek length; and equity premium without risk. He is a member of the American Academy of Arts and Sciences. He received his B.A. from Swarthmore College, his M.S. from Case-Western Reserve and Ph.D. from Carnegie-Mellon University.