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Edward C. Prescott

Roger W. Spencer and David A. Macpherson

in Lives of the Laureates: Twenty-three Nobel Economists

Published in print:
2014
Published Online:
May 2015
ISBN:
9780262027960
eISBN:
9780262325868
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262027960.003.0017
Subject:
Economics and Finance, Economic History

This chapter looks at the life of Edward C. Prescott who received a Nobel Prize in 2004. Prescott was born in 1940 and earned his Ph.D. at Carnegie Mellon University in 1967. He was a senior adviser ... More


Dynamic Consistency and Credibility

Jean-Pascal Bénassy

in Macroeconomic Theory

Published in print:
2011
Published Online:
April 2015
ISBN:
9780195387711
eISBN:
9780190261405
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780195387711.003.0019
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter analyzes the issues of time consistency and credibility in fiscal and monetary policy making. It briefly describes the article by Finn Kydland and Edward Prescott which introduced the ... More


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