Abstract
\Edward Prescott was awarded the Nobel Prize in Economics in 2004 with Finn Kydland for their contributions to dynamic macroeconomics. Prescott is a member of a small group of economists who, starting in the 1970s, revolutionized macroeconomics by challenging the Keynesian consensus. While he is best known for his research on business cycles and the optimal design of economic policy, he has made important contributions to other applied fields, such as finance and development, as well as to economic theory. He has also made important contributions to methodology, having pioneered many of the standard contemporary techniques and tools in macroeconomics.
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Bibliography
Debreu, G. 1954. Valuation equilibrium and Pareto Optimum. Proceedings of the National Academy of Sciences 40: 588–592.
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Parente, S.L. (2018). Prescott, Edward Christian (Born 1940). In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_2406
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DOI: https://doi.org/10.1057/978-1-349-95189-5_2406
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