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Topic: Edward Prescott

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	MSN Encarta - Search View - Prescott, Edward C.
		Prescott, Edward C. Prescott, Edward C., born in 1940, Nobel Prize-winning economist noted for his contributions to macroeconomics, notably his theories regarding the business cycle and how fluctuations in short-term economic policies can negatively impact long-term goals.
		Instead, Prescott and Kydland put forward the theory that demand is constant and that the business cycle is due to changes that affect supply, such as a sharp decrease in the oil supply, leading to recession, or a technological innovation that boosts productivity, leading to growth.
		Prescott and Kydland argued that government institutions, ranging from patent offices to central banks, need to be consistent in their policies over time so that long-term goals, such as controlling inflation, can be achieved.
	encarta.msn.com /text_701702513__1/Prescott_Edward_C.html (546 words)

	ASU News > Prescott wins ASU’s first Nobel
		Edward Prescott, the W. Carey Chair in Economics at ASU, was named winner of the 2004 Nobel Prize in economic sciences Oct. 11.
		Prescott, known for his work on growth theory and time inconsistency, is one of a small circle of scholars who have altered the course of macroeconomic thinking in the past three decades.
		Prescott was on the faculty at the University of Minnesota for two decades, where he was a Regents Professor and McKnight Presidential Endowed Professor in Economics before coming to ASU.
	www.asu.edu /news/faculty_students/prescott_nobel_101504.htm (871 words)

	W. P. Carey School of Business - Edward Prescott Nobel Prize in Economics
		Edward C. Prescott, the W. Carey Chair of Economics in the W. Carey School of Business and a senior monetary advisor at the Minneapolis Federal Reserve Bank, has been awarded the 2004 Nobel Prize in economic sciences, the first-ever Nobel Prize received by an Arizona State University scholar.
		Prescott, who is part of the W. Carey School’s department of economics, is known for his seminal work in policy analysis, business cycles, economic development, general equilibrium theory, and finance.
		Although Prescott connects the adoption of technology to a country’s ability to prosper, he is unwilling to accept the advanced technology of the whiteboard.
	wpcarey.asu.edu /ecn/prescott_nobel.cfm (934 words)

	W. P. Carey School of Business - Economics Department
		Prescott's work also has focused on the importance of an organization's ability and willingness to commit to specific policies over the long term.
		Prescott received his bachelor's degree in mathematics from Swarthmore College in 1962, his master's degree in operations research from Case-Western University in 1963, and his Ph.D. in economics from Carnegie-Mellon University in 1967.
		Prescott is a co-editor of Economic Theory and a research associate for the National Bureau of Economic Research.
	wpcarey.asu.edu /ecn/newsandevents.cfm (941 words)

	MPR: Minnesotans host celebration for Nobel winner (Site not responding. Last check: 2007-11-05)
		Prescott used to teach at the University of Minnesota, and is still an advisor to the Federal Reserve Bank of Minneapolis.
		Prescott, 63, and Finn E. Kydland, 60, of Norway were honored by the Royal Swedish Academy of Sciences for their work in determining the consistency of economic policy and the driving force behind business cycles worldwide.
		Prescott said vast progress is being made in the field of economics.
	news.minnesota.publicradio.org /features/2004/10/12_catlinb_prescott (790 words)

	Case alum shares Nobel Prize in Economic Science
		Edward C. Prescott, a 1964 master’s of science graduate in operations research from Case Western Reserve University, shares the 2004 Nobel Prize in Economic Science with Finn E. Kydland from Carnegie Mellon University and the University of California at Santa Barbara for their theory on business cycles and economic policies.
		Prescott is currently the W. Carey Chair and professor of economics at Arizona State University’s W. Carey School of Business and a senior monetary advisor at the Minneapolis Federal Reserve Bank.
		Edward Prescott's research, even in the past decade, has complimented basic theory with the development of methods to compute the effects of alternative economic policies.
	www.cwru.edu /news/2004/10-04/nobel_prescott.htm (925 words)

	Q&A with Nobel Prize winner Edward Prescott: 10/ 18/ 2004
		Last week the Royal Swedish Academy of Sciences awarded the Nobel Prize for economics to Edward Prescott, a professor at Arizona State University and a researcher at the Federal Reserve Bank of Minneapolis, and to his longtime collaborator, Finn Kydland of the University of California at Santa Barbara.
		Prescott: We should get away from thinking about stimulus policies and worry about long-run growth policies, and when it comes to taxes we should worry about policies from the perspective of their efficiency and distributional consequences.
		Prescott: We should reduce the Social Security tax from 12.4 percent to 2.4 percent for those who agree to have 10 percent of their salary and wage income put into a 401-type retirement account.
	www.southcoasttoday.com /daily/10-04/10-18-04/a11wn725.htm (1157 words)

	Kydland, Prescott Receive Nobel Prizes from King of Sweden and Recognition from President Bush
		President George W. Bush greets Finn Kydland (left) and Edward Prescott (middle) during a ceremony honoring the 2004 Nobel Laureates in the Oval Office Wednesday, Dec. 1, 2004.
		Finn E. Kydland, University Professor of Economics and Ph.D. alumnus, and Edward Prescott, Ph.D. alumnus and former faculty member, were presented their Nobel Prizes in Economic Sciences on Dec. 10.
		Prescott is currently on faculty at Arizona State University.
	www.cmu.edu /cmnews/extra/041210_nobel.html (422 words)

	Edward C. Prescott - Wikipedia, the free encyclopedia
		Edward C. Prescott, born 26 December 1940 in Glens Falls, New York, received the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel 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".
		He is also well known for his work on the Hodrick-Prescott Filter, used to smooth fluctuations in a time series.
		Prescott received his bachelor's degree in mathematics from Swarthmore College in 1962, a master's degree from Case Western Reserve University in 1963, and his Ph.D. in 1967 at Carnegie Mellon University.
	en.wikipedia.org /wiki/Edward_Prescott (246 words)

	Federal Reserve Bank of Minneapolis - The Region - Edward Prescott Awarded Nobel Prize - December 2004 (Site not responding. Last check: 2007-11-05)
		Prescott and his collaborator Finn Kydland were jointly recognized by the Royal Swedish Academy of Sciences for “fundamental contributions to the research area known as macroeconomics.
		Prescott began work at the Minneapolis Fed after joining the economics department at the University of Minnesota 23 years ago.
		Prescott's Nobel is a capstone in a career marked by many honors, including a Guggenheim in 1974-75, fellowship in the Econometric Society in 1980 and in the American Academy of Arts and Sciences in 1992, and the Erwin Plein Nemmers Prize in Economics in 2002.
	www.minneapolisfed.org /pubs/region/04-12/prescott.cfm (602 words)

	Edward C. Prescott: One on One Interview
		Edward C. Prescott is an economics professor at Arizona State University, and for 23 years has been a research adviser at the Federal Reserve Bank of Minneapolis.
		Prescott and Kydland’s 1977 paper, “Rules Rather Than Discretion: The Inconsistency of Optimal Plans,” found that since individuals and firms make decisions based on their expectations about future policy decisions, selecting the policy action that is best in the current situation does not result in best outcomes.
		Prescott : The independence of the Fed was attacked by President Clinton in 1996 or 1997.
	www.fenews.com /fen41/one_on_one/one_on_one.html (2674 words)

	BBC Brasil
		Na entrevista a seguir, Prescott diz também que quem acha que os déficits fiscal e comercial americano são grandes problemas “sabe menos economia que meus alunos na graduação”.
		Edward Prescott - Eu acho que as pessoas que falam sobre isso (a necessidade de ajustes) não sabem tanto de economia quanto um bom aluno das minhas classes de graduação.
		Edward Prescott - Taxas de câmbio são um grande quebra-cabeças que na verdade ninguém entende.
	www.bbc.co.uk /portuguese/reporterbbc/story/2004/11/041110_edwardprescottpcrg.shtml (1087 words)

	Blogger: Email Post to a Friend
		Professor Edward Prescott of Arizona State University received his Nobel Prize Friday night in Sweeden.
		Prescott also gave Bush the nod on another controversial campaign issue, dismissing Kerry's claims that outsourcing of jobs is damaging the economy.
		Prescott also backed the idea, espoused by Bush, to reform Social Security by allowing some workers to place a portion of their payroll taxes into private savings accounts.
	www.blogger.com /email-post.g?blogID=5679875&postID=110283144965187187 (496 words)

	Prescott (Site not responding. Last check: 2007-11-05)
		Prescott, who teaches at the Arizona State University and also works for the Federal Reserve Bank of Minneapolis, compared China's growth with that of Brazil's from the 1960s to the 1980s.
		Sir Mark Prescott's filly got the better of matters at Sandown recently, but the 3lb penalty proved to be just too much as she finally had to give way to Nasheej in a rousing finale.
		Sir Mark Prescott's charge was then hard pressed to get past Deveron, but had just won that battle when she was nailed by the Richard Hannon-trained winner (11-4), who got up in the dying strides.
	www.newstrove.com /cgi-bin/search.pl?wn1=8184&title=Prescott (6524 words)

	ASU Magazine Online - Winter 2005 Vol. 8 No. 3
		A reserved man not prone to small talk, Prescott was pursued by reporters from around the world for interviews after the announcement, and he found it necessary to arrange for assistants to shovel a path for him through the avalanche of e-mail.
		Prescott came to ASU a year ago after more than 20 years at the University of Minnesota — an appointment he held concurrently with his post at the Federal Reserve Bank of Minneapolis.
		Prescott was raised in Glens Falls, N.Y., a small community north of Albany in the foothills of the Adirondack Mountains, the son of an industrial engineer.
	www.public.asu.edu /alumni/vision/04v08n03/NobelCause16.html (1464 words)

	Prescott to receive Nobel Prize during festivities
		Prescott, who holds the W. Carey Chair in Economics at the W. Carey School of Business, will share the prize with his collaborator, Finn Kydland of the University of California at Santa Barbara and Carnegie Mellon University.
		Prescott and Kydland were lauded by the Nobel Prize committee “for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles.”
		Edward Prescott, ASU first Nobel Prize winner, is honored during halftime of the ASU-UCLA football game.
	www.asu.edu /feature/fall04/prescott-nobel.html (527 words)

	Lavoce.info - Opinioni (Site not responding. Last check: 2007-11-05)
		Nei primi anni Settanta, Kydland fu studente di Prescott a Carnegie Mellon University, molto ben frequentata in quegli anni.
		Nel loro studio, Kydland e Prescott analizzano il caso di un governo che disponga di strumenti istituzionali e regole valide (in inglese, "commitment devices") per autovincolarsi a non cedere alle tentazioni di breve periodo.
		In un celebre scambio di battute nel 1986 con Edward Prescott, Larry Summers, poi diventato ministro dell'Economia del governo Clinton, espresse duramente e quasi sarcasticamente il suo scetticismo sull'analisi di Kydland e Prescott, ma precisò che sebbene non credesse ai risultati, non metteva sotto accusa la metodologia usata dagli autori.
	www.lavoce.info /news/view.php?id=9&cms_pk=1270&from=index (1007 words)

	EconLog, Prescott on Tax Cuts, Arnold Kling: Library of Economics and Liberty
		In this essay, I explain 2004 economics Nobel Laureate Edward Prescott's views that the Bush tax cuts were too small.
		Prescott re-casts the trade-off as between "market time" and "non-market time." In addition to TV and Bon-Bons, you spend some of your non-market time producing goods and services, such as home-improvement projects, meals cooked at home, housework, and child care.
		Finn Kydland and Edward Prescott were awarded the Bank of Sweden Prize in Economic Science in Memory of Alfred Nobel for 2004 for their work in "time-consistent policy and the generation of the business cycle".
	econlog.econlib.org /archives/2004/10/prescott_on_tax.html (2594 words)

	BoT and Sasin Host Nobel Laureate Edward Prescott -- Sasin HRM News
		Prescott replied that central banks should focus on stabilising prices to give the people greater certainty in paying for goods and allow their currencies to move with market forces.
		Prescott replied that he was not worried about this problem since the US bonds held by foreign central banks represented a fraction of the US debt.
		Prescott replied that managing monetary policy and supervising a sound banking system were joint duties of a central bank, which should remain independent.
	www.sasin.chula.ac.th /hrm/news (1622 words)

	The Maryland Court of Vice Admiralty - Minutes 1774-1775
		Edward Stevens Judge of the Court John Carty of Vice Admiralty in Maryland [f.22b] And now here at this day to wit the twenty first of November Anno Dom.
		The Libellants therefore pray that the said Edward Prescott Commander now on Board the said Snow may be cited to appear before this Honourable Court and that the said Snow together with her tackle apparel and her furniture be arrested and condemned to pay the Libellants their wages.
		And it is further ordered that on payment of the several sums so as aforesaid decreed to Henry Edwards[,] John Coward and James McClaine and the costs of said aforesaid that the said Snow Hannah with her tackle apparel and furniture be hence discharged.
	www.mdarchives.state.md.us /msa/speccol/sc4600/sc4646/html/transcri.html (4521 words)

	Outside The Beltway : Edward Prescott on Social Security
		Edward Prescott, 2004 Nobel Prize co-winner, is putting forward a plan to help reform Social Security, or more accurately to augment the current program.
		One of the notable parts of the article is that Prescott comes out in support of the "No Crisis" view of Social Security insolvency.
		Hopefully Prescott's proposal will be written up and put on the web for people to read.
	www.outsidethebeltway.com /archives/8743 (428 words)

	TCS: Tech Central Station - News Flash: Nobel Laureate Criticizes Bush Tax Cuts! (Site not responding. Last check: 2007-11-05)
		To do justice to Kydland and Prescott's work, I feel that I would have to delve into the full history of these macroeconomic controversies, which are alluded to in my book in the chapter on Sweetwater vs. Saltwater economics.
		Instead, let it suffice to say that Kydland and Prescott were two of the tugboats who helped turn around the ship of professional opinion.
		The tax issue, rather than the macroeconomic theory that was the focus of the Nobel citation for Kydland and Prescott, will be the topic of the rest of this article.
	www.techcentralstation.com /102204H.html (1231 words)

	IOL: Nobel Laureate calls for more US tax cuts
		Washington - Edward Prescott, who picked up the Nobel Prize for Economics on Monday, said President George Bush's tax rate cuts were "pretty small" and should have been bigger.
		Prescott and Norwegian Finn Kydland won the 2004 Nobel Economics Prize for research into the forces behind business cycles.
		The American analyst, who is a professor at Arizona State University and a researcher at the Federal Reserve Bank of Minneapolis, said a large tax cut in 1986 had lowered rates while collecting the same revenue.
	www.iol.co.za /index.php?set_id=1&click_id=22&art_id=qw1097554324711B251 (369 words)

	Mises Economics Blog: Economics Nobel 2004
		Finn Kydland (Carnegie Mellon) and Edward Prescott (Arizona State) have been awarded the Nobel Prize, according to the Swedish Academy of Sciences, for their work on time-consistent policy and the generation of the business cycle.
		Posted by: Roger Garrison at October 11, 2004 08:56 AM As a layman who's read several newspaper descriptions of Kydland's and Prescott's achievement, I'm having a hard time identifying exactly where their Nobel level originality lies.
		Prescott had gone there as a visiting professor with his wife and three children.
	blog.mises.org /blog/archives/002587.asp (1695 words)

	DN - Ekonomi - De minskade politikers makt (Site not responding. Last check: 2007-11-05)
		Finn Kydland och Edward Prescott belönas för sina bidrag till teorin om den ekonomiska politikens tidskonsistens och konjunkturens drivkrafter.
		Den andra artikeln av Finn Kydland och Edward Prescott gäller vad som styr konjunkturerna.
		Slutsatsen från Finn Kydland och Edward Prescott var att konjunktursvängningar minst lika gärna kan komma från ekonomins utbudssida som från efterfrågesidan.
	www.dn.se /DNet/jsp/polopoly.jsp?d=678&a=330239 (833 words)

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