Edward C. Prescott

Edward Prescott was a Regents Professor and W. P. Carey Chair in Economics and Guggenheim Fellow who 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 projects included 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 was an elected member of the American Academy of Arts and Sciences and the National Academy of Sciences. He received his BA from Swarthmore College, his MS from Case-Western Reserve and PhD from Carnegie-Mellon University. Prescott passed away in 2022.

ASU mourns loss of Nobel-winning economist Edward Prescott, Nov. 7, 2022