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class="vector-toc-list"> <li id="toc-Early_life" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Early_life"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1</span> <span>Early life</span> </div> </a> <ul id="toc-Early_life-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Career" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Career"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.2</span> <span>Career</span> </div> </a> <ul id="toc-Career-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Nobel_Prize" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Nobel_Prize"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.3</span> <span>Nobel Prize</span> </div> </a> <ul id="toc-Nobel_Prize-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Political_activity" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Political_activity"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.4</span> <span>Political activity</span> </div> </a> <ul id="toc-Political_activity-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Honours_and_awards" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Honours_and_awards"> <div class="vector-toc-text"> <span class="vector-toc-numb">2</span> <span>Honours and awards</span> </div> </a> <ul id="toc-Honours_and_awards-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Further_reading" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Further_reading"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Further reading</span> </div> </a> <ul id="toc-Further_reading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Edward C. Prescott</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 47 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-47" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">47 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%A5%D8%AF%D9%88%D8%A7%D8%B1%D8%AF_%D8%A8%D8%B1%D9%8A%D8%B3%D9%83%D9%88%D8%AA" title="إدوارد بريسكوت – Arabic" lang="ar" hreflang="ar" data-title="إدوارد بريسكوت" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/Edvard_Preskott" title="Edvard Preskott – Azerbaijani" lang="az" hreflang="az" data-title="Edvard Preskott" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target"><span>Azərbaycanca</span></a></li><li class="interlanguage-link interwiki-bn mw-list-item"><a href="https://bn.wikipedia.org/wiki/%E0%A6%8F%E0%A6%A1%E0%A6%93%E0%A6%AF%E0%A6%BC%E0%A6%BE%E0%A6%B0%E0%A7%8D%E0%A6%A1_%E0%A6%AA%E0%A7%8D%E0%A6%B0%E0%A7%87%E0%A6%B8%E0%A7%8D%E2%80%8C%E0%A6%95%E0%A6%9F" title="এডওয়ার্ড প্রেস্‌কট – Bangla" lang="bn" hreflang="bn" data-title="এডওয়ার্ড প্রেস্‌কট" data-language-autonym="বাংলা" data-language-local-name="Bangla" class="interlanguage-link-target"><span>বাংলা</span></a></li><li class="interlanguage-link interwiki-be mw-list-item"><a href="https://be.wikipedia.org/wiki/%D0%AD%D0%B4%D0%B2%D0%B0%D1%80%D0%B4_%D0%9F%D1%80%D1%8D%D1%81%D0%BA%D0%B0%D1%82" title="Эдвард Прэскат – Belarusian" lang="be" hreflang="be" data-title="Эдвард Прэскат" data-language-autonym="Беларуская" data-language-local-name="Belarusian" class="interlanguage-link-target"><span>Беларуская</span></a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%95%D0%B4%D1%83%D0%B0%D1%80%D0%B4_%D0%9F%D1%80%D0%B5%D1%81%D0%BA%D1%8A%D1%82" title="Едуард Прескът – Bulgarian" lang="bg" hreflang="bg" data-title="Едуард Прескът" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – Catalan" lang="ca" hreflang="ca" data-title="Edward C. Prescott" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – Czech" lang="cs" hreflang="cs" data-title="Edward C. Prescott" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – Danish" lang="da" hreflang="da" data-title="Edward C. Prescott" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target"><span>Dansk</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – German" lang="de" hreflang="de" data-title="Edward C. Prescott" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-el mw-list-item"><a href="https://el.wikipedia.org/wiki/%CE%88%CE%BD%CF%84%CE%BF%CF%85%CE%B1%CF%81%CE%BD%CF%84_%CE%A0%CF%81%CE%AD%CF%83%CE%BA%CE%BF%CF%84" title="Έντουαρντ Πρέσκοτ – Greek" lang="el" hreflang="el" data-title="Έντουαρντ Πρέσκοτ" data-language-autonym="Ελληνικά" data-language-local-name="Greek" class="interlanguage-link-target"><span>Ελληνικά</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – Spanish" lang="es" hreflang="es" data-title="Edward C. Prescott" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – Basque" lang="eu" hreflang="eu" data-title="Edward C. Prescott" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target"><span>Euskara</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%A7%D8%AF%D9%88%D8%A7%D8%B1%D8%AF_%D9%BE%D8%B1%D8%B3%DA%A9%D8%A7%D8%AA" title="ادوارد پرسکات – Persian" lang="fa" hreflang="fa" data-title="ادوارد پرسکات" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – French" lang="fr" hreflang="fr" data-title="Edward C. Prescott" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-gd mw-list-item"><a href="https://gd.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – Scottish Gaelic" lang="gd" hreflang="gd" data-title="Edward C. Prescott" data-language-autonym="Gàidhlig" data-language-local-name="Scottish Gaelic" class="interlanguage-link-target"><span>Gàidhlig</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EC%97%90%EB%93%9C%EC%9B%8C%EB%93%9C_%ED%94%84%EB%A0%88%EC%8A%A4%EC%BD%A7" title="에드워드 프레스콧 – Korean" lang="ko" hreflang="ko" data-title="에드워드 프레스콧" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D4%B7%D5%A4%D5%BE%D5%A1%D6%80%D5%A4_%D5%93%D6%80%D5%A5%D5%BD%D6%84%D5%B8%D5%A9" title="Էդվարդ Փրեսքոթ – Armenian" lang="hy" hreflang="hy" data-title="Էդվարդ Փրեսքոթ" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target"><span>Հայերեն</span></a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%8F%E0%A4%A1%E0%A4%B5%E0%A4%B0%E0%A5%8D%E0%A4%A1_%E0%A4%B8%E0%A5%80_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A5%87%E0%A4%B8%E0%A5%8D%E0%A4%95%E0%A5%89%E0%A4%9F" title="एडवर्ड सी प्रेस्कॉट – Hindi" lang="hi" hreflang="hi" data-title="एडवर्ड सी प्रेस्कॉट" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-io mw-list-item"><a href="https://io.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – Ido" lang="io" hreflang="io" data-title="Edward C. Prescott" data-language-autonym="Ido" data-language-local-name="Ido" class="interlanguage-link-target"><span>Ido</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – Indonesian" lang="id" hreflang="id" data-title="Edward C. Prescott" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Edward_Prescott" title="Edward Prescott – Italian" lang="it" hreflang="it" data-title="Edward Prescott" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%90%D7%93%D7%95%D7%90%D7%A8%D7%93_%D7%A4%D7%A8%D7%A1%D7%A7%D7%95%D7%98" title="אדוארד פרסקוט – Hebrew" lang="he" hreflang="he" data-title="אדוארד פרסקוט" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-ka mw-list-item"><a href="https://ka.wikipedia.org/wiki/%E1%83%94%E1%83%93%E1%83%95%E1%83%90%E1%83%A0%E1%83%93_%E1%83%9E%E1%83%A0%E1%83%94%E1%83%A1%E1%83%99%E1%83%9D%E1%83%A2%E1%83%98" title="ედვარდ პრესკოტი – Georgian" lang="ka" hreflang="ka" data-title="ედვარდ პრესკოტი" data-language-autonym="ქართული" data-language-local-name="Georgian" class="interlanguage-link-target"><span>ქართული</span></a></li><li class="interlanguage-link interwiki-arz mw-list-item"><a href="https://arz.wikipedia.org/wiki/%D8%A7%D8%AF%D9%88%D8%A7%D8%B1%D8%AF_%D8%A8%D8%B1%D9%8A%D8%B3%D9%83%D9%88%D8%AA" title="ادوارد بريسكوت – Egyptian Arabic" lang="arz" hreflang="arz" data-title="ادوارد بريسكوت" data-language-autonym="مصرى" data-language-local-name="Egyptian Arabic" class="interlanguage-link-target"><span>مصرى</span></a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – Malay" lang="ms" hreflang="ms" data-title="Edward C. Prescott" data-language-autonym="Bahasa Melayu" data-language-local-name="Malay" class="interlanguage-link-target"><span>Bahasa Melayu</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Edward_Prescott" title="Edward Prescott – Dutch" lang="nl" hreflang="nl" data-title="Edward Prescott" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E3%82%A8%E3%83%89%E3%83%AF%E3%83%BC%E3%83%89%E3%83%BB%E3%83%97%E3%83%AC%E3%82%B9%E3%82%B3%E3%83%83%E3%83%88" title="エドワード・プレスコット – Japanese" lang="ja" hreflang="ja" data-title="エドワード・プレスコット" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Edward C. Prescott" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-uz mw-list-item"><a href="https://uz.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – Uzbek" lang="uz" hreflang="uz" data-title="Edward C. Prescott" data-language-autonym="Oʻzbekcha / ўзбекча" data-language-local-name="Uzbek" class="interlanguage-link-target"><span>Oʻzbekcha / ўзбекча</span></a></li><li class="interlanguage-link interwiki-pnb mw-list-item"><a href="https://pnb.wikipedia.org/wiki/%D8%A7%DB%8C%DA%88%D9%88%D8%B1%DA%88_%DA%A9%D8%B1%D8%B3%DA%86%D9%86_%D9%BE%D8%B1%DB%8C%D8%B3%DA%A9%D8%A7%D9%B9" title="ایڈورڈ کرسچن پریسکاٹ – Western Punjabi" lang="pnb" hreflang="pnb" data-title="ایڈورڈ کرسچن پریسکاٹ" data-language-autonym="پنجابی" data-language-local-name="Western Punjabi" class="interlanguage-link-target"><span>پنجابی</span></a></li><li class="interlanguage-link interwiki-nds mw-list-item"><a href="https://nds.wikipedia.org/wiki/Edward_Christian_Prescott" title="Edward Christian Prescott – Low German" lang="nds" hreflang="nds" data-title="Edward Christian Prescott" data-language-autonym="Plattdüütsch" data-language-local-name="Low German" class="interlanguage-link-target"><span>Plattdüütsch</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – Polish" lang="pl" hreflang="pl" data-title="Edward C. Prescott" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Edward_Prescott" title="Edward Prescott – Portuguese" lang="pt" hreflang="pt" data-title="Edward Prescott" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-kaa mw-list-item"><a href="https://kaa.wikipedia.org/wiki/Preskott_Edvard" title="Preskott Edvard – Kara-Kalpak" lang="kaa" hreflang="kaa" data-title="Preskott Edvard" data-language-autonym="Qaraqalpaqsha" data-language-local-name="Kara-Kalpak" class="interlanguage-link-target"><span>Qaraqalpaqsha</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Edward_Prescott" title="Edward Prescott – Romanian" lang="ro" hreflang="ro" data-title="Edward Prescott" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target"><span>Română</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%9F%D1%80%D0%B5%D1%81%D0%BA%D0%BE%D1%82%D1%82,_%D0%AD%D0%B4%D0%B2%D0%B0%D1%80%D0%B4" title="Прескотт, Эдвард – Russian" lang="ru" hreflang="ru" data-title="Прескотт, Эдвард" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – Simple English" lang="en-simple" hreflang="en-simple" data-title="Edward C. Prescott" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li><li class="interlanguage-link interwiki-sk mw-list-item"><a href="https://sk.wikipedia.org/wiki/Edward_Prescott" title="Edward Prescott – Slovak" lang="sk" hreflang="sk" data-title="Edward Prescott" data-language-autonym="Slovenčina" data-language-local-name="Slovak" class="interlanguage-link-target"><span>Slovenčina</span></a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – Finnish" lang="fi" hreflang="fi" data-title="Edward C. Prescott" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target"><span>Suomi</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – Swedish" lang="sv" hreflang="sv" data-title="Edward C. Prescott" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-tt mw-list-item"><a href="https://tt.wikipedia.org/wiki/%D0%AD%D0%B4%D0%B2%D0%B0%D1%80%D0%B4_%D0%9F%D1%80%D0%B5%D1%81%D0%BA%D0%BE%D1%82%D1%82" title="Эдвард Прескотт – Tatar" lang="tt" hreflang="tt" data-title="Эдвард Прескотт" data-language-autonym="Татарча / tatarça" data-language-local-name="Tatar" class="interlanguage-link-target"><span>Татарча / tatarça</span></a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/Edward_C._Prescott" title="Edward C. Prescott – Turkish" lang="tr" hreflang="tr" data-title="Edward C. 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.infobox-subbox{padding:0;border:none;margin:-3px;width:auto;min-width:100%;font-size:100%;clear:none;float:none;background-color:transparent}.mw-parser-output .infobox-3cols-child{margin:auto}.mw-parser-output .infobox .navbar{font-size:100%}@media screen{html.skin-theme-clientpref-night .mw-parser-output .infobox-full-data:not(.notheme)>div:not(.notheme)[style]{background:#1f1f23!important;color:#f8f9fa}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .infobox-full-data:not(.notheme) div:not(.notheme){background:#1f1f23!important;color:#f8f9fa}}@media(min-width:640px){body.skin--responsive .mw-parser-output .infobox-table{display:table!important}body.skin--responsive .mw-parser-output .infobox-table>caption{display:table-caption!important}body.skin--responsive .mw-parser-output .infobox-table>tbody{display:table-row-group}body.skin--responsive .mw-parser-output .infobox-table tr{display:table-row!important}body.skin--responsive .mw-parser-output .infobox-table th,body.skin--responsive .mw-parser-output .infobox-table td{padding-left:inherit;padding-right:inherit}}</style><table class="infobox biography vcard"><tbody><tr><th colspan="2" class="infobox-above" style="font-size:125%;"><div class="fn">Edward C. Prescott</div></th></tr><tr><td colspan="2" class="infobox-image"><span class="mw-default-size" typeof="mw:File/Frameless"><a href="/wiki/File:Edward_C_Prescott_2015.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/0/05/Edward_C_Prescott_2015.jpg/220px-Edward_C_Prescott_2015.jpg" decoding="async" width="220" height="147" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/05/Edward_C_Prescott_2015.jpg/330px-Edward_C_Prescott_2015.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/05/Edward_C_Prescott_2015.jpg/440px-Edward_C_Prescott_2015.jpg 2x" data-file-width="3000" data-file-height="2000" /></a></span><div class="infobox-caption">Prescott in 2015</div></td></tr><tr><th scope="row" class="infobox-label">Born</th><td class="infobox-data"><span style="display:none">(<span class="bday">1940-12-26</span>)</span>December 26, 1940<br /><div style="display:inline" class="birthplace"><a href="/wiki/Glens_Falls,_New_York" title="Glens Falls, New York">Glens Falls, New York</a>, U.S.</div></td></tr><tr><th scope="row" class="infobox-label">Died</th><td class="infobox-data">November 6, 2022<span style="display:none">(2022-11-06)</span> (aged 81)<br /><div style="display:inline" class="deathplace"><a href="/wiki/Paradise_Valley,_Arizona" title="Paradise Valley, Arizona">Paradise Valley, Arizona</a>, U.S.</div></td></tr><tr><td colspan="2" class="infobox-full-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"></td></tr><tr><th colspan="2" class="infobox-header">Academic career</th></tr><tr><th scope="row" class="infobox-label">Institution</th><td class="infobox-data"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style><div class="plainlist"><ul><li><a href="/wiki/Australian_National_University" title="Australian National University">Australian National University (ANU)</a></li><li><a href="/wiki/Arizona_State_University" title="Arizona State University">Arizona State University</a></li><li><a href="/wiki/Carnegie_Mellon_University" title="Carnegie Mellon University">Carnegie Mellon University</a></li><li><a href="/wiki/Federal_Reserve_Bank_of_Minneapolis" title="Federal Reserve Bank of Minneapolis">Federal Reserve Bank of Minneapolis</a></li><li><a href="/wiki/Federal_Reserve_Bank_of_Richmond" title="Federal Reserve Bank of Richmond">Federal Reserve Bank of Richmond</a></li><li><a href="/wiki/Northwestern_University" title="Northwestern University">Northwestern University</a></li><li><a href="/wiki/University_of_Minnesota" title="University of Minnesota">University of Minnesota</a></li><li><a href="/wiki/University_of_Pennsylvania" title="University of Pennsylvania">University of Pennsylvania</a></li><li><a href="/wiki/University_of_California,_Santa_Barbara" title="University of California, Santa Barbara">University of California, Santa Barbara</a></li><li><a href="/wiki/University_of_Chicago" title="University of Chicago">University of Chicago</a></li><li><a href="/wiki/New_York_University" title="New York University">New York University</a></li></ul></div></td></tr><tr><th scope="row" class="infobox-label">School or<br />tradition</th><td class="infobox-data category"><a href="/wiki/New_classical_economics" class="mw-redirect" title="New classical economics">New classical economics</a></td></tr><tr><th scope="row" class="infobox-label">Alma mater</th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"><ul><li><a href="/wiki/Swarthmore_College" title="Swarthmore College">Swarthmore College</a></li><li><a href="/wiki/Case_Western_Reserve_University" title="Case Western Reserve University">Case Western Reserve University</a></li><li><a href="/wiki/Carnegie_Mellon_University" title="Carnegie Mellon University">Carnegie Mellon University</a></li></ul></div></td></tr><tr><th scope="row" class="infobox-label">Doctoral<br />advisor</th><td class="infobox-data"><a href="/wiki/Michael_C._Lovell" title="Michael C. Lovell">Michael C. Lovell</a></td></tr><tr><th scope="row" class="infobox-label">Doctoral<br />students</th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"><ul><li><a href="/wiki/Costas_Azariadis" title="Costas Azariadis">Costas Azariadis</a></li><li><a href="/wiki/Gary_Hansen" title="Gary Hansen">Gary Hansen</a></li><li><a href="/wiki/Finn_Kydland" class="mw-redirect" title="Finn Kydland">Finn Kydland</a></li><li><a href="/wiki/V._V._Chari" title="V. V. Chari">V. V. Chari</a></li><li><a href="/wiki/Fernando_Alvarez_(economist)" title="Fernando Alvarez (economist)">Fernando Alvarez</a><sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup></li><li><a href="/wiki/Richard_Rogerson" title="Richard Rogerson">Richard Rogerson</a></li></ul></div></td></tr><tr><th scope="row" class="infobox-label">Influences</th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"><ul><li><a href="/wiki/Morris_H._DeGroot" title="Morris H. DeGroot">Morris H. DeGroot</a></li><li><a href="/wiki/Robert_Lucas,_Jr." class="mw-redirect" title="Robert Lucas, Jr.">Robert Lucas, Jr.</a></li><li><a href="/wiki/John_Muth" title="John Muth">John Muth</a></li></ul></div></td></tr><tr><th scope="row" class="infobox-label">Contributions</th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"><ul><li><a href="/wiki/Real_business_cycles" class="mw-redirect" title="Real business cycles">Real Business Cycle theory</a></li><li><a href="/wiki/Dynamic_inconsistency" title="Dynamic inconsistency">Time consistency</a> in <a href="/wiki/Economic_policy" title="Economic policy">economic policy</a></li></ul></div></td></tr><tr><th scope="row" class="infobox-label">Awards</th><td class="infobox-data"><a href="/wiki/Nobel_Prize_in_Economics" class="mw-redirect" title="Nobel Prize in Economics">Nobel Prize in Economics</a> (2004)</td></tr><tr><td colspan="2" class="infobox-full-data"><a rel="nofollow" class="external text" href="https://ideas.repec.org/e/ppr10.html">Information</a> at <a href="/wiki/Research_Papers_in_Economics" title="Research Papers in Economics">IDEAS / RePEc</a></td></tr><tr style="display:none"><td colspan="2"> </td></tr><tr><td colspan="2" class="infobox-full-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"></td></tr><tr><td colspan="2" class="infobox-full-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"></td></tr><tr><th colspan="2" class="infobox-header">Academic background</th></tr><tr><th scope="row" class="infobox-label"><a href="/wiki/Thesis" title="Thesis">Thesis</a></th><td class="infobox-data"><a rel="nofollow" class="external text" href="https://www.proquest.com/docview/302262954/"><i>Adaptive decision rules for macro economic planning</i></a> (1967)</td></tr><tr style="display:none"><td colspan="2"> </td></tr><tr style="display:none"><td colspan="2"> 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.sidebar-content{padding:0 0.5em 0.4em}.mw-parser-output .sidebar-content-with-subgroup{padding:0.1em 0.4em 0.2em}.mw-parser-output .sidebar-above,.mw-parser-output .sidebar-below{padding:0.3em 0.8em;font-weight:bold}.mw-parser-output .sidebar-collapse .sidebar-above,.mw-parser-output .sidebar-collapse .sidebar-below{border-top:1px solid #aaa;border-bottom:1px solid #aaa}.mw-parser-output .sidebar-navbar{text-align:right;font-size:115%;padding:0 0.4em 0.4em}.mw-parser-output .sidebar-list-title{padding:0 0.4em;text-align:left;font-weight:bold;line-height:1.6em;font-size:105%}.mw-parser-output .sidebar-list-title-c{padding:0 0.4em;text-align:center;margin:0 3.3em}@media(max-width:640px){body.mediawiki .mw-parser-output .sidebar{width:100%!important;clear:both;float:none!important;margin-left:0!important;margin-right:0!important}}body.skin--responsive .mw-parser-output .sidebar a>img{max-width:none!important}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><table class="sidebar sidebar-collapse nomobile nowraplinks"><tbody><tr><td class="sidebar-pretitle">Part of <a href="/wiki/Category:Macroeconomics" title="Category:Macroeconomics">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle"><a href="/wiki/Macroeconomics" title="Macroeconomics">Macroeconomics</a></th></tr><tr><td class="sidebar-image" style="padding-top:0.6em;"><span class="notpageimage" typeof="mw:File"><a href="/wiki/File:Ec_8_(26088200676)_(cropped).jpg" class="mw-file-description"><img alt="Federal Reserve" src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Ec_8_%2826088200676%29_%28cropped%29.jpg/220px-Ec_8_%2826088200676%29_%28cropped%29.jpg" decoding="async" width="220" height="150" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Ec_8_%2826088200676%29_%28cropped%29.jpg/330px-Ec_8_%2826088200676%29_%28cropped%29.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Ec_8_%2826088200676%29_%28cropped%29.jpg/440px-Ec_8_%2826088200676%29_%28cropped%29.jpg 2x" data-file-width="2400" data-file-height="1633" /></a></span></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)">Basic concepts</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Aggregate_demand" title="Aggregate demand">Aggregate demand</a></li> <li><a href="/wiki/Aggregate_supply" title="Aggregate supply">Aggregate supply</a></li> <li><a href="/wiki/Business_cycle" title="Business cycle">Business cycle</a></li> <li><a href="/wiki/Compound_annual_growth_rate" title="Compound annual growth rate">CAGR</a></li> <li><a href="/wiki/Deflation" title="Deflation">Deflation</a></li> <li><a href="/wiki/Demand_shock" title="Demand shock">Demand shock</a></li> <li><a href="/wiki/Disinflation" title="Disinflation">Disinflation</a></li> <li><a href="/wiki/Effective_demand" title="Effective demand">Effective demand</a></li> <li>Expectations <ul><li><a href="/wiki/Adaptive_expectations" title="Adaptive expectations">Adaptive</a></li> <li><a href="/wiki/Rational_expectations" title="Rational expectations">Rational</a></li></ul></li> <li><a href="/wiki/Financial_crisis" title="Financial crisis">Financial crisis</a></li> <li><a href="/wiki/Economic_growth" title="Economic growth">Growth</a></li> <li><a href="/wiki/Inflation" title="Inflation">Inflation</a> <ul><li><a href="/wiki/Demand-pull_inflation" title="Demand-pull inflation">Demand-pull</a></li> <li><a href="/wiki/Cost-push_inflation" title="Cost-push inflation">Cost-push</a></li></ul></li> <li><a href="/wiki/Interest_rate" title="Interest rate">Interest rate</a></li> <li><a href="/wiki/Investment_(macroeconomics)" title="Investment (macroeconomics)">Investment</a></li> <li><a href="/wiki/Liquidity_trap" title="Liquidity trap">Liquidity trap</a></li> <li><a href="/wiki/Measures_of_national_income_and_output" title="Measures of national income and output">Measures of national income and output</a> <ul><li><a href="/wiki/Gross_domestic_product" title="Gross domestic product">GDP</a></li> <li><a href="/wiki/Gross_national_income" title="Gross national income">GNI</a></li> <li><a href="/wiki/Net_national_income" title="Net national income">NNI</a></li></ul></li> <li><a href="/wiki/Microfoundations" title="Microfoundations">Microfoundations</a></li> <li><a href="/wiki/Money" title="Money">Money</a> <ul><li><a href="/wiki/Endogenous_money" title="Endogenous money">Endogenous</a></li></ul></li> <li><a href="/wiki/Money_creation" title="Money creation">Money creation</a></li> <li><a href="/wiki/Demand_for_money" title="Demand for money">Demand for money</a> <ul><li><a href="/wiki/Liquidity_preference" title="Liquidity preference">Liquidity preference</a></li></ul></li> <li><a href="/wiki/Money_supply" title="Money supply">Money supply</a></li> <li><a href="/wiki/National_accounts" title="National accounts">National accounts</a> <ul><li><a href="/wiki/System_of_National_Accounts" title="System of National Accounts">SNA</a></li></ul></li> <li><a href="/wiki/Nominal_rigidity" title="Nominal rigidity">Nominal rigidity</a></li> <li><a href="/wiki/Price_level" title="Price level">Price level</a></li> <li><a href="/wiki/Recession" title="Recession">Recession</a></li> <li><a href="/wiki/Shrinkflation" title="Shrinkflation">Shrinkflation</a></li> <li><a href="/wiki/Stagflation" title="Stagflation">Stagflation</a></li> <li><a href="/wiki/Supply_shock" title="Supply shock">Supply shock</a></li> <li><a href="/wiki/National_saving" title="National saving">Saving</a></li> <li><a href="/wiki/Unemployment" title="Unemployment">Unemployment</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)">Policies</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Fiscal_policy" title="Fiscal policy">Fiscal</a></li> <li><a href="/wiki/Monetary_policy" title="Monetary policy">Monetary</a></li> <li><a href="/wiki/Commercial_policy" title="Commercial policy">Commercial</a></li> <li><a href="/wiki/Central_bank" title="Central bank">Central bank</a></li> <li><a href="/wiki/Universal_basic_income" title="Universal basic income">Universal basic income</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)">Models</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/IS%E2%80%93LM_model" title="IS–LM model">IS–LM</a></li> <li><a href="/wiki/AD%E2%80%93AS_model" title="AD–AS model">AD–AS</a></li> <li><a href="/wiki/Keynesian_cross" title="Keynesian cross">Keynesian cross</a></li> <li><a href="/wiki/Multiplier_(economics)" title="Multiplier (economics)">Multiplier</a></li> <li><a href="/wiki/Accelerator_effect" title="Accelerator effect">Accelerator</a></li> <li><a href="/wiki/Phillips_curve" title="Phillips curve">Phillips curve</a></li> <li><a href="/wiki/Arrow%E2%80%93Debreu_model" title="Arrow–Debreu model">Arrow–Debreu</a></li> <li><a href="/wiki/Harrod%E2%80%93Domar_model" title="Harrod–Domar model">Harrod–Domar</a>Нмиф</li> <li><a href="/wiki/Solow%E2%80%93Swan_model" title="Solow–Swan model">Solow–Swan</a></li> <li><a href="/wiki/Ramsey%E2%80%93Cass%E2%80%93Koopmans_model" title="Ramsey–Cass–Koopmans model">Ramsey–Cass–Koopmans</a></li> <li><a href="/wiki/Overlapping_generations_model" title="Overlapping generations model">Overlapping generations</a></li> <li><a href="/wiki/General_equilibrium_theory" title="General equilibrium theory">General equilibrium</a> <ul><li><a href="/wiki/Dynamic_stochastic_general_equilibrium" title="Dynamic stochastic general equilibrium">DSGE</a></li></ul></li> <li><a href="/wiki/Endogenous_growth_theory" title="Endogenous growth theory">Endogenous growth</a></li> <li><a href="/wiki/Matching_theory_(economics)" class="mw-redirect" title="Matching theory (economics)">Matching theory</a></li> <li><a href="/wiki/Mundell%E2%80%93Fleming_model" title="Mundell–Fleming model">Mundell–Fleming</a></li> <li><a href="/wiki/Overshooting_model" title="Overshooting model">Overshooting</a></li> <li><a href="/wiki/NAIRU" title="NAIRU">NAIRU</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)">Related fields</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Econometrics" title="Econometrics">Econometrics</a></li> <li><a href="/wiki/Economic_statistics" title="Economic statistics">Economic statistics</a></li> <li><a href="/wiki/Monetary_economics" title="Monetary economics">Monetary economics</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development economics</a></li> <li><a href="/wiki/International_economics" title="International economics">International economics</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)"><a href="/wiki/History_of_macroeconomic_thought" title="History of macroeconomic thought">Schools</a></div><div class="sidebar-list-content mw-collapsible-content hlist"><i>Mainstream</i> <ul><li><a href="/wiki/Keynesian_economics" title="Keynesian economics">Keynesian</a> <ul><li><a href="/wiki/Neo-Keynesian_economics" class="mw-redirect" title="Neo-Keynesian economics">Neo-</a></li> <li><a href="/wiki/New_Keynesian_economics" title="New Keynesian economics">New</a></li></ul></li> <li><a href="/wiki/Monetarism" title="Monetarism">Monetarism</a></li> <li><a href="/wiki/New_classical_macroeconomics" title="New classical macroeconomics">New classical</a> <ul><li><a href="/wiki/Real_business-cycle_theory" title="Real business-cycle theory">Real business-cycle theory</a></li></ul></li> <li><a href="/wiki/Stockholm_school_(economics)" class="mw-redirect" title="Stockholm school (economics)">Stockholm</a></li> <li><a href="/wiki/Supply-side_economics" title="Supply-side economics">Supply-side</a></li> <li><a href="/wiki/New_neoclassical_synthesis" title="New neoclassical synthesis">New neoclassical synthesis</a></li> <li><a href="/wiki/Saltwater_and_freshwater_economics" title="Saltwater and freshwater economics">Saltwater and freshwater</a></li></ul> <p><i>Heterodox</i> </p> <ul><li><a href="/wiki/Austrian_School" class="mw-redirect" title="Austrian School">Austrian</a></li> <li><a href="/wiki/Chartalism" title="Chartalism">Chartalism</a> <ul><li><a href="/wiki/Modern_monetary_theory" title="Modern monetary theory">Modern monetary theory</a></li></ul></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Post-Keynesian_economics" title="Post-Keynesian economics">Post-Keynesian</a> <ul><li><a href="/wiki/Monetary_circuit_theory" title="Monetary circuit theory">Circuitism</a></li></ul></li> <li><a href="/wiki/Disequilibrium_macroeconomics" title="Disequilibrium macroeconomics">Disequilibrium</a></li> <li><a href="/wiki/Marxian_economics" title="Marxian economics">Marxian</a></li> <li><a href="/wiki/Market_monetarism" title="Market monetarism">Market monetarism</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)"><a href="/wiki/Category:Macroeconomists" title="Category:Macroeconomists">People</a></div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Fran%C3%A7ois_Quesnay" title="François Quesnay">François Quesnay</a></li> <li><a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a></li> <li><a href="/wiki/Thomas_Robert_Malthus" title="Thomas Robert Malthus">Thomas Robert Malthus</a></li> <li><a href="/wiki/Karl_Marx" title="Karl Marx">Karl Marx</a></li> <li><a href="/wiki/L%C3%A9on_Walras" title="Léon Walras">Léon Walras</a></li> <li><a href="/wiki/Knut_Wicksell" title="Knut Wicksell">Knut Wicksell</a></li> <li><a href="/wiki/Irving_Fisher" title="Irving Fisher">Irving Fisher</a></li> <li><a href="/wiki/Wesley_Clair_Mitchell" title="Wesley Clair Mitchell">Wesley Clair Mitchell</a></li> <li><a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">John Maynard Keynes</a></li> <li><a href="/wiki/Alvin_Hansen" title="Alvin Hansen">Alvin Hansen</a></li> <li><a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Michał Kalecki</a></li> <li><a href="/wiki/Gunnar_Myrdal" title="Gunnar Myrdal">Gunnar Myrdal</a></li> <li><a href="/wiki/Simon_Kuznets" title="Simon Kuznets">Simon Kuznets</a></li> <li><a href="/wiki/Joan_Robinson" title="Joan Robinson">Joan Robinson</a></li> <li><a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Friedrich Hayek</a></li> <li><a href="/wiki/John_Hicks" title="John Hicks">John Hicks</a></li> <li><a href="/wiki/Richard_Stone" title="Richard Stone">Richard Stone</a></li> <li><a href="/wiki/Hyman_Minsky" title="Hyman Minsky">Hyman Minsky</a></li> <li><a href="/wiki/Milton_Friedman" title="Milton Friedman">Milton Friedman</a></li> <li><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Paul Samuelson</a></li> <li><a href="/wiki/Lawrence_Klein" title="Lawrence Klein">Lawrence Klein</a></li> <li><a href="/wiki/Edmund_Phelps" title="Edmund Phelps">Edmund Phelps</a></li> <li><a href="/wiki/Robert_Lucas_Jr." title="Robert Lucas Jr.">Robert Lucas Jr.</a></li> <li><a class="mw-selflink selflink">Edward C. Prescott</a></li> <li><a href="/wiki/Peter_Diamond" title="Peter Diamond">Peter Diamond</a></li> <li><a href="/wiki/William_Nordhaus" title="William Nordhaus">William Nordhaus</a></li> <li><a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Joseph Stiglitz</a></li> <li><a href="/wiki/Thomas_J._Sargent" title="Thomas J. Sargent">Thomas J. Sargent</a></li> <li><a href="/wiki/Paul_Krugman" title="Paul Krugman">Paul Krugman</a></li> <li><a href="/wiki/Greg_Mankiw" title="Greg Mankiw">N. Gregory Mankiw</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)">See also</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Macroeconomic_model" title="Macroeconomic model">Macroeconomic model</a></li> <li><a href="/wiki/List_of_important_publications_in_economics#Macroeconomics" title="List of important publications in economics">Publications in macroeconomics</a></li> <li><a href="/wiki/Economics" title="Economics">Economics</a> <ul><li><a href="/wiki/Applied_economics" title="Applied economics">Applied</a></li></ul></li> <li><a href="/wiki/Microeconomics" title="Microeconomics">Microeconomics</a></li> <li><a href="/wiki/Political_economy" title="Political economy">Political economy</a></li> <li><a href="/wiki/Mathematical_economics" title="Mathematical economics">Mathematical economics</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-below plainlist"> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><span><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/16px-Bills_and_coins.svg.png" decoding="async" width="16" height="8" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/24px-Bills_and_coins.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/32px-Bills_and_coins.svg.png 2x" data-file-width="960" data-file-height="465" /></span></span> </span><a href="/wiki/Portal:Money" title="Portal:Money">Money portal</a></li> <li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Macroeconomics_sidebar" title="Template:Macroeconomics sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Macroeconomics_sidebar" title="Template talk:Macroeconomics sidebar"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Macroeconomics_sidebar" title="Special:EditPage/Template:Macroeconomics sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p><b>Edward Christian Prescott</b> (December 26, 1940 – November 6, 2022) was an American economist. He received the <a href="/wiki/Bank_of_Sweden_Prize_in_Economic_Sciences_in_Memory_of_Alfred_Nobel" class="mw-redirect" title="Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel">Nobel Memorial Prize in Economics</a> in 2004, sharing the award with <a href="/wiki/Finn_E._Kydland" title="Finn E. Kydland">Finn E. Kydland</a>, "for their contributions to dynamic <a href="/wiki/Macroeconomics" title="Macroeconomics">macroeconomics</a>: the time consistency of <a href="/wiki/Economic_policy" title="Economic policy">economic policy</a> and the driving forces behind <a href="/wiki/Business_cycles" class="mw-redirect" title="Business cycles">business cycles</a>". This research was primarily conducted while both Kydland and Prescott were affiliated with the <a href="/wiki/Graduate_School_of_Industrial_Administration" class="mw-redirect" title="Graduate School of Industrial Administration">Graduate School of Industrial Administration</a> (now <a href="/wiki/Tepper_School_of_Business" title="Tepper School of Business">Tepper School of Business</a>) at <a href="/wiki/Carnegie_Mellon_University" title="Carnegie Mellon University">Carnegie Mellon University</a>. According to the <a href="/wiki/Research_Papers_in_Economics" title="Research Papers in Economics">IDEAS/RePEc</a> rankings, he was the 19th most widely cited economist in the world in 2013.<sup id="cite_ref-IDEAS_2-0" class="reference"><a href="#cite_note-IDEAS-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> In August 2014, Prescott was appointed an Adjunct Distinguished Economic Professor at the <a href="/wiki/Australian_National_University" title="Australian National University">Australian National University (ANU)</a> in <a href="/wiki/Canberra" title="Canberra">Canberra</a>, Australia. Prescott died of cancer on November 6, 2022, at the age of 81.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Biography">Biography</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edward_C._Prescott&action=edit&section=1" title="Edit section: Biography"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Early_life">Early life</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edward_C._Prescott&action=edit&section=2" title="Edit section: Early life"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Prescott was born in <a href="/wiki/Glens_Falls,_New_York" title="Glens Falls, New York">Glens Falls, New York</a>, to Mathilde Helwig Prescott and William Clyde Prescott. In 1962, he received his <a href="/wiki/Bachelor%27s_degree" title="Bachelor's degree">bachelor's degree</a> in mathematics from <a href="/wiki/Swarthmore_College" title="Swarthmore College">Swarthmore College</a>, where he was a member of the <a href="/wiki/Delta_Upsilon" title="Delta Upsilon">Delta Upsilon</a> fraternity. He then received a master's degree from <a href="/wiki/Case_Western_Reserve_University" title="Case Western Reserve University">Case Western Reserve University</a> in <a href="/wiki/Operations_research" title="Operations research">operations research</a> in 1963, and a PhD in economics at <a href="/wiki/Carnegie_Mellon_University" title="Carnegie Mellon University">Carnegie Mellon University</a> in 1967. </p> <div class="mw-heading mw-heading3"><h3 id="Career">Career</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edward_C._Prescott&action=edit&section=3" title="Edit section: Career"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>From 1966 to 1971, Prescott taught at the <a href="/wiki/University_of_Pennsylvania" title="University of Pennsylvania">University of Pennsylvania</a>. He then returned to Carnegie Mellon until 1980, when he moved to the <a href="/wiki/University_of_Minnesota" title="University of Minnesota">University of Minnesota</a>, where he taught until 2003. In 1978, he was a visiting professor at the <a href="/wiki/University_of_Chicago" title="University of Chicago">University of Chicago</a>, where he was named a <a href="/wiki/Ford_Foundation" title="Ford Foundation">Ford Foundation</a> Research Professor. In the following year, he visited <a href="/wiki/Northwestern_University" title="Northwestern University">Northwestern University</a> and stayed there until 1982.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> From 2003 on he taught at <a href="/wiki/Arizona_State_University" title="Arizona State University">Arizona State University</a>. </p><p>Prescott was an economic advisor at the <a href="/wiki/Federal_Reserve_Bank_of_Minneapolis" title="Federal Reserve Bank of Minneapolis">Federal Reserve Bank of Minneapolis</a> since 1981.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> In 2004, he held the Maxwell and Mary Pellish Chair in Economics at the <a href="/wiki/University_of_California,_Santa_Barbara" title="University of California, Santa Barbara">University of California, Santa Barbara</a>.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> In 2006, he held the <a href="/wiki/Shinsei_Bank" class="mw-redirect" title="Shinsei Bank">Shinsei Bank</a> Visiting Professorship at <a href="/wiki/New_York_University" title="New York University">New York University</a>. In August 2014, Prescott was appointed an Adjunct Distinguished Professor at Research School of Economics (RSE) of the <a href="/wiki/Australian_National_University" title="Australian National University">Australian National University</a>.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> </p><p>The <a href="/wiki/Research_Papers_in_Economics" title="Research Papers in Economics">Research Papers in Economics</a> project ranked him as the 19th most influential economist in the world as of August 2012 based on his academic contributions.<sup id="cite_ref-IDEAS_2-1" class="reference"><a href="#cite_note-IDEAS-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> More recently working as an economist at the <a href="/wiki/Federal_Reserve_Bank_of_Minneapolis" title="Federal Reserve Bank of Minneapolis">Federal Reserve Bank of Minneapolis</a> and as a professor at <a href="/wiki/Arizona_State_University" title="Arizona State University">Arizona State University</a>'s <a href="/wiki/W._P._Carey_School_of_Business" title="W. P. Carey School of Business">W. P. Carey School of Business</a>, he was a major figure in <a href="/wiki/Macroeconomics" title="Macroeconomics">macroeconomics</a>, especially the theories of <a href="/wiki/Business_cycles" class="mw-redirect" title="Business cycles">business cycles</a> and <a href="/wiki/General_equilibrium" class="mw-redirect" title="General equilibrium">general equilibrium</a>. In his "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," published in 1977 with <a href="/wiki/Finn_E._Kydland" title="Finn E. Kydland">Finn E. Kydland</a>, he analyzed whether central banks should have strict numerical targets or be allowed to use their discretion in setting <a href="/wiki/Monetary_policy" title="Monetary policy">monetary policy</a>. He is also well known for his work on the <a href="/wiki/Hodrick%E2%80%93Prescott_filter" title="Hodrick–Prescott filter">Hodrick–Prescott filter</a>, used to smooth fluctuations in a time series. </p> <div class="mw-heading mw-heading3"><h3 id="Nobel_Prize">Nobel Prize</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edward_C._Prescott&action=edit&section=4" title="Edit section: Nobel Prize"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Prescott and Finn Kydland received the <a href="/wiki/Nobel_Prize_for_Economics" class="mw-redirect" title="Nobel Prize for Economics">Nobel prize for economics</a> based on two papers they authored. In the first paper, written in 1977 "Rules Rather than Discretion: The inconsistency of optimal planning" Prescott and Kydland argue that purpose and goals of economic planning and policy is to trigger a desired response from the economy. However, Prescott and Kydland realized that these sectors are made up of individuals, individuals who make assumptions and predictions about the future. As Prescott and Kydland stated "Even if there is a fixed and agreed upon <a href="/wiki/Social_welfare_function" title="Social welfare function">social objective function</a> and <a href="/wiki/Policy" title="Policy">policy makers</a> know the timing and magnitude of the effects of their actions... correct evaluation of the end-of-point position does not result in the social objective being maximized." Prescott and Kyland were pointing out that agents in the economy already factor into their decision making the assumed response by policy makers to a given economic climate. </p><p>Additionally Prescott and Kydland felt that the policy makers due to their relationship with government suffered from a credibility issue. The reason for this dynamic is that the political process is designed to fix problems and benefit its citizens today. Prescott and Kydland demonstrated this with a simple yet convincing example. In this example they take an area that has been shown likely to flood (a flood plain) and the government has stated that the "socially optimal outcome" is to not have houses be built in that area and therefore the government states that it will not provide flood protection (dams, levees, and flood insurance) rational agents will not live in that area. However, rational agents are forward planning creatures and know that if they and others build houses in the flood plain the government which makes decisions based on current situations will then provide flood protection in the future. While Prescott never used these words he was describing a moral hazard.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p><p>The second paper, written in 1982, "Time to Build and Aggregate Fluctuations," Prescott and Kydland argued that shifts in supply typically caused by changes and improvements in technology accounted for "Not only long term increases in living standards but also to many of the short term fluctuations in business cycles." To study this hypothesis Prescott established a model to study the change in output, investment, consumption, labor productivity, and employment, between the end of the <a href="/wiki/Second_World_War" class="mw-redirect" title="Second World War">Second World War</a> and 1980. Using this model the two economists were able to correlate 70% of the fluctuation in output to changes and growth in technology.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> Their main contribution, however, was the way of modeling macroeconomic variables with microfoundations. </p> <div class="mw-heading mw-heading3"><h3 id="Political_activity">Political activity</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edward_C._Prescott&action=edit&section=5" title="Edit section: Political activity"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In January 2009 Prescott, along with more than 250 other economists and professors,<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> signed an open letter to <a href="/wiki/U.S._President" class="mw-redirect" title="U.S. President">U.S. President</a> <a href="/wiki/Barack_Obama" title="Barack Obama">Barack Obama</a> opposing the passage of the <a href="/wiki/American_Recovery_and_Reinvestment_Act" class="mw-redirect" title="American Recovery and Reinvestment Act">American Recovery and Reinvestment Act</a>. The letter was sponsored by libertarian think tank, the <a href="/wiki/Cato_Institute" title="Cato Institute">Cato Institute</a>, and was printed as a paid advertisement in several newspapers including <i><a href="/wiki/The_New_York_Times" title="The New York Times">The New York Times</a></i> and the <i><a href="/wiki/Arizona_Republic" class="mw-redirect" title="Arizona Republic">Arizona Republic</a></i>.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p><p>His late writings focused on the negative effect of taxes on the economy in Europe. </p> <div class="mw-heading mw-heading2"><h2 id="Honours_and_awards">Honours and awards</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edward_C._Prescott&action=edit&section=6" title="Edit section: Honours and awards"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1251242444">.mw-parser-output .ambox{border:1px solid #a2a9b1;border-left:10px solid #36c;background-color:#fbfbfb;box-sizing:border-box}.mw-parser-output .ambox+link+.ambox,.mw-parser-output .ambox+link+style+.ambox,.mw-parser-output .ambox+link+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+style+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+link+.ambox{margin-top:-1px}html body.mediawiki .mw-parser-output .ambox.mbox-small-left{margin:4px 1em 4px 0;overflow:hidden;width:238px;border-collapse:collapse;font-size:88%;line-height:1.25em}.mw-parser-output .ambox-speedy{border-left:10px solid #b32424;background-color:#fee7e6}.mw-parser-output .ambox-delete{border-left:10px solid #b32424}.mw-parser-output .ambox-content{border-left:10px solid #f28500}.mw-parser-output .ambox-style{border-left:10px solid #fc3}.mw-parser-output .ambox-move{border-left:10px solid #9932cc}.mw-parser-output .ambox-protection{border-left:10px solid #a2a9b1}.mw-parser-output .ambox .mbox-text{border:none;padding:0.25em 0.5em;width:100%}.mw-parser-output .ambox .mbox-image{border:none;padding:2px 0 2px 0.5em;text-align:center}.mw-parser-output .ambox .mbox-imageright{border:none;padding:2px 0.5em 2px 0;text-align:center}.mw-parser-output .ambox .mbox-empty-cell{border:none;padding:0;width:1px}.mw-parser-output .ambox .mbox-image-div{width:52px}@media(min-width:720px){.mw-parser-output .ambox{margin:0 10%}}@media print{body.ns-0 .mw-parser-output .ambox{display:none!important}}</style><table class="box-Unreferenced_section plainlinks metadata ambox ambox-content ambox-Unreferenced" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><a href="/wiki/File:Question_book-new.svg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/50px-Question_book-new.svg.png" decoding="async" width="50" height="39" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/75px-Question_book-new.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/100px-Question_book-new.svg.png 2x" data-file-width="512" data-file-height="399" /></a></span></div></td><td class="mbox-text"><div class="mbox-text-span">This section <b>does not <a href="/wiki/Wikipedia:Citing_sources" title="Wikipedia:Citing sources">cite</a> any <a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability">sources</a></b>.<span class="hide-when-compact"> Please help <a href="/wiki/Special:EditPage/Edward_C._Prescott" title="Special:EditPage/Edward C. Prescott">improve this section</a> by <a href="/wiki/Help:Referencing_for_beginners" title="Help:Referencing for beginners">adding citations to reliable sources</a>. Unsourced material may be challenged and <a href="/wiki/Wikipedia:Verifiability#Burden_of_evidence" title="Wikipedia:Verifiability">removed</a>.</span> <span class="date-container"><i>(<span class="date">November 2022</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <ul><li><a href="/wiki/United_States_National_Academy_of_Sciences" class="mw-redirect" title="United States National Academy of Sciences">United States National Academy of Sciences</a> (2008)</li> <li><a href="/wiki/Nobel_Memorial_Prize_in_Economic_Sciences" title="Nobel Memorial Prize in Economic Sciences">Nobel Memorial Prize in Economic Sciences</a> (2004)</li> <li><a href="/wiki/Erwin_Plein_Nemmers_Prize_in_Economics" title="Erwin Plein Nemmers Prize in Economics">Erwin Plein Nemmers Prize in Economics</a>, Northwestern University (2002)</li> <li>Fellow, <a href="/wiki/American_Academy_of_Arts_and_Sciences" title="American Academy of Arts and Sciences">American Academy of Arts and Sciences</a> (1992)</li> <li>Fellow, <a href="/wiki/Fellows_of_the_Econometric_Society" class="mw-redirect" title="Fellows of the Econometric Society">Econometric Society</a> (1980)</li> <li><a href="/wiki/Alexander_Henderson_Award" class="mw-redirect" title="Alexander Henderson Award">Alexander Henderson Award</a>, Carnegie Mellon (1967)</li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edward_C._Prescott&action=edit&section=7" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://users.econ.umn.edu/~tkehoe/workshop.html">Timothy J. Kehoe Workshop</a></span> </li> <li id="cite_note-IDEAS-2"><span class="mw-cite-backlink">^ <a href="#cite_ref-IDEAS_2-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-IDEAS_2-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://ideas.repec.org/top/top.person.all.html">"Economist Rankings at IDEAS – Top 10% Authors, as of February 2013"</a>. <a href="/wiki/Research_Papers_in_Economics" title="Research Papers in Economics">Research Papers in Economics</a>. February 2013<span class="reference-accessdate">. Retrieved <span class="nowrap">March 9,</span> 2013</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Economist+Rankings+at+IDEAS+%E2%80%93+Top+10%25+Authors%2C+as+of+February+2013&rft.pub=Research+Papers+in+Economics&rft.date=2013-02&rft_id=https%3A%2F%2Fideas.repec.org%2Ftop%2Ftop.person.all.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdward+C.+Prescott" class="Z3988"></span></span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRisen2022" class="citation news cs1">Risen, Clay (23 November 2022). <a rel="nofollow" class="external text" href="https://www.nytimes.com/2022/11/23/business/edward-c-prescott-dead.html">"Edward C. Prescott, 81, Dies; Won Nobel for Studying Business Cycles"</a>. <i>The New York Times</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=Edward+C.+Prescott%2C+81%2C+Dies%3B+Won+Nobel+for+Studying+Business+Cycles&rft.date=2022-11-23&rft.aulast=Risen&rft.aufirst=Clay&rft_id=https%3A%2F%2Fwww.nytimes.com%2F2022%2F11%2F23%2Fbusiness%2Fedward-c-prescott-dead.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdward+C.+Prescott" class="Z3988"></span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://cla.umn.edu/economics/news-events/announcement/edward-c-prescott-1940-2022-economist-teacher-mentor-and-friend">"Edward C Prescott (1940–2022): Economist, Teacher, Mentor and Friend"</a>. <i>University of Minnesota – College of Liberal Arts</i><span class="reference-accessdate">. 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Retrieved <span class="nowrap">October 19,</span> 2010</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Finn+E.+Kydland+%E2%80%93+2004+Nobel+Prize+in+Economics&rft.pub=Ucsb.edu&rft_id=http%3A%2F%2Fwww.ucsb.edu%2Fnobel%2Fkydland.shtml&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdward+C.+Prescott" class="Z3988"></span></span> </li> <li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text"><a href="/wiki/Australian_National_University" title="Australian National University">Australian National University</a></span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20140811125929/http://www.minneapolisfed.org/research/prescott/papers/timetobuild.pdf">"Archived copy"</a> <span class="cs1-format">(PDF)</span>. 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Retrieved <span class="nowrap">11 January</span> 2022</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=cato.org&rft.atitle=Archived+copy&rft_id=https%3A%2F%2Fcato.org%2Fspecial%2Fstimulus09%2Fcato_stimulus.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdward+C.+Prescott" class="Z3988"></span><span class="cs1-maint citation-comment"><code class="cs1-code">{{<a href="/wiki/Template:Cite_web" title="Template:Cite web">cite web</a>}}</code>: CS1 maint: archived copy as title (<a href="/wiki/Category:CS1_maint:_archived_copy_as_title" title="Category:CS1 maint: archived copy as title">link</a>)</span></span> </li> <li id="cite_note-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-15">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20090130032228/http://www.investors.com/editorial/IBDArticles.asp?artsec=5&issue=20090128">"House OKs Stimulus Without Any Votes From Republicans"</a>. Archived from the original on January 30, 2009<span class="reference-accessdate">. Retrieved <span class="nowrap">2009-02-18</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=House+OKs+Stimulus+Without+Any+Votes+From+Republicans&rft_id=http%3A%2F%2Fwww.investors.com%2Feditorial%2FIBDArticles.asp%3Fartsec%3D5%26issue%3D20090128&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdward+C.+Prescott" class="Z3988"></span><span class="cs1-maint citation-comment"><code class="cs1-code">{{<a href="/wiki/Template:Cite_web" title="Template:Cite web">cite web</a>}}</code>: CS1 maint: bot: original URL status unknown (<a href="/wiki/Category:CS1_maint:_bot:_original_URL_status_unknown" title="Category:CS1 maint: bot: original URL status unknown">link</a>)</span></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edward_C._Prescott&action=edit&section=8" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239549316">.mw-parser-output .refbegin{margin-bottom:0.5em}.mw-parser-output .refbegin-hanging-indents>ul{margin-left:0}.mw-parser-output .refbegin-hanging-indents>ul>li{margin-left:0;padding-left:3.2em;text-indent:-3.2em}.mw-parser-output .refbegin-hanging-indents ul,.mw-parser-output .refbegin-hanging-indents ul li{list-style:none}@media(max-width:720px){.mw-parser-output .refbegin-hanging-indents>ul>li{padding-left:1.6em;text-indent:-1.6em}}.mw-parser-output .refbegin-columns{margin-top:0.3em}.mw-parser-output .refbegin-columns ul{margin-top:0}.mw-parser-output .refbegin-columns li{page-break-inside:avoid;break-inside:avoid-column}@media screen{.mw-parser-output .refbegin{font-size:90%}}</style><div class="refbegin" style=""> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGreenwood1994" class="citation journal cs1">Greenwood, Jeremy (1994). <a rel="nofollow" class="external text" href="https://ideas.repec.org/p/roc/rocher/520.html">"Modern Business Analysis (A Report to the Nobel Prize Committee)"</a>. <i>Rcer Working Papers</i>. Rochester Center for Economic Research, WP 520.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Rcer+Working+Papers&rft.atitle=Modern+Business+Analysis+%28A+Report+to+the+Nobel+Prize+Committee%29&rft.date=1994&rft.aulast=Greenwood&rft.aufirst=Jeremy&rft_id=https%3A%2F%2Fideas.repec.org%2Fp%2Froc%2Frocher%2F520.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdward+C.+Prescott" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLucas,_Robert_E_Jr.Prescott,_Edward_C.1971" class="citation journal cs1">Lucas, Robert E Jr.; Prescott, Edward C. (1971). <a rel="nofollow" class="external text" href="https://ideas.repec.org/a/ecm/emetrp/v39y1971i5p659-81.html">"Investment Under Uncertainty"</a>. <i>Econometrica</i>. <b>39</b> (5): 659–681. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2307%2F1909571">10.2307/1909571</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/1909571">1909571</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Econometrica&rft.atitle=Investment+Under+Uncertainty&rft.volume=39&rft.issue=5&rft.pages=659-681&rft.date=1971&rft_id=info%3Adoi%2F10.2307%2F1909571&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F1909571%23id-name%3DJSTOR&rft.au=Lucas%2C+Robert+E+Jr.&rft.au=Prescott%2C+Edward+C.&rft_id=https%3A%2F%2Fideas.repec.org%2Fa%2Fecm%2Femetrp%2Fv39y1971i5p659-81.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdward+C.+Prescott" class="Z3988"></span></li> <li><a href="/wiki/Timothy_J._Kehoe" class="mw-redirect" title="Timothy J. Kehoe">Kehoe, T. J.</a>, and E. C. Prescott, editors, <a rel="nofollow" class="external text" href="http://www.greatdepressionsbook.com"><i>Great Depressions of the Twentieth Century</i></a>, Federal Reserve Bank of Minneapolis, 2007.</li> <li><a rel="nofollow" class="external text" href="http://www.finnkydland.com/papers/Rules%20Rather%20than%20Discretion%20The%20Inconsistency%20of%20Optimal%20Plans.pdf">Rules Rather than Discretion: The Inconsistency of Optimal Plans by Finn Kydland|Kydland and E. C. Prescott</a></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPrescott,_Edward_C.Mehra,_Rajnish1980" class="citation journal cs1">Prescott, Edward C.; Mehra, Rajnish (1980). "Recursive Competitive Equilibrium: The Case of Homogeneous Households". <i>Econometrica</i>. <b>48</b> (6): 1365–79. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2307%2F1912812">10.2307/1912812</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/1912812">1912812</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Econometrica&rft.atitle=Recursive+Competitive+Equilibrium%3A+The+Case+of+Homogeneous+Households&rft.volume=48&rft.issue=6&rft.pages=1365-79&rft.date=1980&rft_id=info%3Adoi%2F10.2307%2F1912812&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F1912812%23id-name%3DJSTOR&rft.au=Prescott%2C+Edward+C.&rft.au=Mehra%2C+Rajnish&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdward+C.+Prescott" class="Z3988"></span></li> <li><a rel="nofollow" class="external text" href="https://www.fep.up.pt/docentes/pcosme/s-e-1/kp-econ.pdf">Time to Build and Aggregate Fluctuations, by Finn Kydland and E. C. Prescott</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20221112155450/https://www.fep.up.pt/docentes/pcosme/s-e-1/kp-econ.pdf">Archived</a> 2022-11-12 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMehraEdward_C._Prescott1985" class="citation journal cs1">Mehra, Rajnish; Edward C. Prescott (1985). <a rel="nofollow" class="external text" href="http://www.academicwebpages.com/preview/mehra/pdf/The%20Equity%20Premium%20A%20Puzzle.pdf">"The Equity Premium: A Puzzle"</a> <span class="cs1-format">(PDF)</span>. <i>Journal of Monetary Economics</i>. <b>15</b> (2): 145–161. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1016%2F0304-3932%2885%2990061-3">10.1016/0304-3932(85)90061-3</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Monetary+Economics&rft.atitle=The+Equity+Premium%3A+A+Puzzle&rft.volume=15&rft.issue=2&rft.pages=145-161&rft.date=1985&rft_id=info%3Adoi%2F10.1016%2F0304-3932%2885%2990061-3&rft.aulast=Mehra&rft.aufirst=Rajnish&rft.au=Edward+C.+Prescott&rft_id=http%3A%2F%2Fwww.academicwebpages.com%2Fpreview%2Fmehra%2Fpdf%2FThe%2520Equity%2520Premium%2520A%2520Puzzle.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdward+C.+Prescott" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKydland,_FinnE._C._Prescott1990" class="citation journal cs1">Kydland, Finn; E. C. Prescott (1990). "Business Cycles: Real Facts and a Monetary Myth". <i>Federal Reserve Bank of Minneapolis Quarterly Review</i>: 3–18.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Federal+Reserve+Bank+of+Minneapolis+Quarterly+Review&rft.atitle=Business+Cycles%3A+Real+Facts+and+a+Monetary+Myth&rft.pages=3-18&rft.date=1990&rft.au=Kydland%2C+Finn&rft.au=E.+C.+Prescott&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdward+C.+Prescott" class="Z3988"></span></li> <li>Prescott, Edward C. 'More Time on the Job', in <i><a href="/wiki/The_4%25_Solution:_Unleashing_the_Economic_Growth_America_Needs" class="mw-redirect" title="The 4% Solution: Unleashing the Economic Growth America Needs">The 4% Solution: Unleashing the Economic Growth America Needs</a></i>, edited by Brendan Miniter. New York: Crown Business. 2012.</li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFarquhar,_Elizabeth2006" class="citation journal cs1">Farquhar, Elizabeth (Summer 2006). "Power of the Prize". <i>ASU Research Magazine</i>: 46–48.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=ASU+Research+Magazine&rft.atitle=Power+of+the+Prize&rft.ssn=summer&rft.pages=46-48&rft.date=2006&rft.au=Farquhar%2C+Elizabeth&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdward+C.+Prescott" class="Z3988"></span></li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edward_C._Prescott&action=edit&section=9" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20041011111556/http://minneapolisfed.org/research/prescott/">Federal Reserve Bank of Minneapolis</a></li> <li><a rel="nofollow" class="external text" href="https://www.nobelprize.org/laureate/787">Edward C. Prescott</a> on Nobelprize.org <span class="mw-valign-text-top noprint" typeof="mw:File/Frameless"><a href="https://www.wikidata.org/wiki/Q312585#P8024" title="Edit this at Wikidata"><img alt="Edit this at Wikidata" src="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/10px-OOjs_UI_icon_edit-ltr-progressive.svg.png" decoding="async" width="10" height="10" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/15px-OOjs_UI_icon_edit-ltr-progressive.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/20px-OOjs_UI_icon_edit-ltr-progressive.svg.png 2x" data-file-width="20" data-file-height="20" /></a></span> contains the Nobel Prize Lecture 8 dec 2004 <i>The Transformation of Macroeconomic Policy and Research</i></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation book cs1"><a rel="nofollow" class="external text" href="http://www.econlib.org/library/Enc/bios/Prescott.html">"Edward C. Prescott (1940– )"</a>. <i>The Concise Encyclopedia of Economics</i>. <a href="/wiki/Library_of_Economics_and_Liberty" class="mw-redirect" title="Library of Economics and Liberty">Library of Economics and Liberty</a> (2nd ed.). <a href="/wiki/Liberty_Fund" title="Liberty Fund">Liberty Fund</a>. 2008.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Edward+C.+Prescott+%281940%E2%80%93+%29&rft.btitle=The+Concise+Encyclopedia+of+Economics&rft.series=Library+of+Economics+and+Liberty&rft.edition=2nd&rft.pub=Liberty+Fund&rft.date=2008&rft_id=http%3A%2F%2Fwww.econlib.org%2Flibrary%2FEnc%2Fbios%2FPrescott.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdward+C.+Prescott" class="Z3988"></span></li></ul> <table class="wikitable succession-box noprint" style="margin:0.5em auto; font-size:small;clear:both;"> <tbody><tr> <th colspan="3" style="border-top: 5px solid #FFF179;">Awards </th></tr> <tr style="text-align:center;"> <td style="width:30%;" rowspan="1">Preceded by<div style="font-weight: bold"><a href="/wiki/Robert_F._Engle_III" class="mw-redirect" title="Robert F. Engle III">Robert F. Engle III</a><br /><a href="/wiki/Clive_W.J._Granger" class="mw-redirect" title="Clive W.J. Granger">Clive W.J. Granger</a></div> </td> <td style="width: 40%; text-align: center;" rowspan="1"><b> <a href="/wiki/List_of_Nobel_Memorial_Prize_laureates_in_Economics" class="mw-redirect" title="List of Nobel Memorial Prize laureates in Economics">Laureate of the Nobel Memorial Prize in Economics</a> </b><br />2004 <br />Served alongside: <b><a href="/wiki/Finn_E._Kydland" title="Finn E. Kydland">Finn E. Kydland</a></b> </td> <td style="width: 30%; text-align: center;" rowspan="1">Succeeded by<div style="font-weight: bold"><a href="/wiki/Robert_J._Aumann" class="mw-redirect" title="Robert J. Aumann">Robert J. Aumann</a><br /><a href="/wiki/Thomas_C._Schelling" class="mw-redirect" title="Thomas C. Schelling">Thomas C. Schelling</a></div> </td></tr> </tbody></table> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output .navbox+.navbox-styles+.navbox{margin-top:-1px}.mw-parser-output .navbox-inner,.mw-parser-output .navbox-subgroup{width:100%}.mw-parser-output .navbox-group,.mw-parser-output .navbox-title,.mw-parser-output .navbox-abovebelow{padding:0.25em 1em;line-height:1.5em;text-align:center}.mw-parser-output .navbox-group{white-space:nowrap;text-align:right}.mw-parser-output .navbox,.mw-parser-output .navbox-subgroup{background-color:#fdfdfd}.mw-parser-output .navbox-list{line-height:1.5em;border-color:#fdfdfd}.mw-parser-output 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Grandmont (page does not exist)">Jean-Michel Grandmont</a></li> <li><a href="/w/index.php?title=Guy_Laroque&action=edit&redlink=1" class="new" title="Guy Laroque (page does not exist)">Guy Laroque</a><span class="noprint" style="font-size:85%; font-style: normal;"> [<a href="https://fr.wikipedia.org/wiki/Guy_Laroque" class="extiw" title="fr:Guy Laroque">fr</a>]</span></li> <li><a href="/w/index.php?title=Jean-Pascal_B%C3%A9nassy&action=edit&redlink=1" class="new" title="Jean-Pascal Bénassy (page does not exist)">Jean-Pascal Bénassy</a></li> <li><a href="/w/index.php?title=Yves_Younes&action=edit&redlink=1" class="new" title="Yves Younes (page does not exist)">Yves Younes</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/New_classical_macroeconomics" title="New classical macroeconomics">New classical macroeconomics</a></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Robert_Barro" title="Robert Barro">Robert Barro</a></li> <li><a href="/wiki/Axel_Leijonhufvud" title="Axel Leijonhufvud">Axel Leijonhufvud</a></li> <li><a href="/wiki/Robert_Lucas_Jr." title="Robert Lucas Jr.">Robert Lucas Jr.</a></li> <li><a href="/wiki/Bennett_McCallum" title="Bennett McCallum">Bennett McCallum</a></li> <li><a href="/wiki/Patrick_Minford" title="Patrick Minford">Patrick Minford</a></li> <li><a href="/wiki/Thomas_J._Sargent" title="Thomas J. Sargent">Thomas J. Sargent</a></li> <li><a href="/wiki/Neil_Wallace" title="Neil Wallace">Neil Wallace</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Real_business-cycle_theory" title="Real business-cycle theory">Real business cycle school</a></th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Robert_King_(economist)" title="Robert King (economist)">Robert King</a></li> <li><a href="/wiki/Finn_E._Kydland" title="Finn E. Kydland">Finn E. Kydland</a></li> <li><a href="/w/index.php?title=John_Long_(economist)&action=edit&redlink=1" class="new" title="John Long (economist) (page does not exist)">John Long</a></li> <li><a href="/wiki/Charles_Plosser" title="Charles Plosser">Charles Plosser</a></li> <li><a class="mw-selflink selflink">Edward C. Prescott</a></li> <li><a href="/wiki/S%C3%A9rgio_Rebelo" title="Sérgio Rebelo">Sérgio Rebelo</a></li> <li><a href="/w/index.php?title=Alan_Stockman&action=edit&redlink=1" class="new" title="Alan Stockman (page does not exist)">Alan Stockman</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Laureates_of_the_Sveriges_Riksbank_Prize_in_Economic_Sciences" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="3"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Nobel_Memorial_Prize_in_Economic_Sciences_laureates" title="Template:Nobel Memorial Prize in Economic Sciences laureates"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Nobel_Memorial_Prize_in_Economic_Sciences_laureates" title="Template talk:Nobel Memorial Prize in Economic Sciences laureates"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Nobel_Memorial_Prize_in_Economic_Sciences_laureates" title="Special:EditPage/Template:Nobel Memorial Prize in Economic Sciences laureates"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Laureates_of_the_Sveriges_Riksbank_Prize_in_Economic_Sciences" style="font-size:114%;margin:0 4em"><a href="/wiki/List_of_Nobel_Memorial_Prize_laureates_in_Economic_Sciences" title="List of Nobel Memorial Prize laureates in Economic Sciences">Laureates</a> of the <a href="/wiki/Nobel_Memorial_Prize_in_Economic_Sciences" title="Nobel Memorial Prize in Economic Sciences">Sveriges Riksbank Prize in Economic Sciences</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">1969–1975</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap">1969: <a href="/wiki/Ragnar_Frisch" title="Ragnar Frisch">Ragnar Frisch</a> / <a href="/wiki/Jan_Tinbergen" title="Jan Tinbergen">Jan Tinbergen</a></span></li> <li><span class="nowrap">1970: <a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Paul A. Samuelson</a></span></li> <li><span class="nowrap">1971: <a href="/wiki/Simon_Kuznets" title="Simon Kuznets">Simon Kuznets</a></span></li> <li><span class="nowrap">1972: <a href="/wiki/John_Hicks" title="John Hicks">John R. Hicks</a> / <a href="/wiki/Kenneth_Arrow" title="Kenneth Arrow">Kenneth J. Arrow</a></span></li> <li><span class="nowrap">1973: <a href="/wiki/Wassily_Leontief" title="Wassily Leontief">Wassily Leontief</a></span></li> <li><span class="nowrap">1974: <a href="/wiki/Gunnar_Myrdal" title="Gunnar Myrdal">Gunnar Myrdal</a> / <a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Friedrich August von Hayek</a></span></li> <li><span class="nowrap">1975: <a href="/wiki/Leonid_Kantorovich" title="Leonid Kantorovich">Leonid Vitaliyevich Kantorovich</a> / <a href="/wiki/Tjalling_Koopmans" title="Tjalling Koopmans">Tjalling C. Koopmans</a></span></li></ul> </div></td><td class="noviewer navbox-image" rowspan="3" style="width:1px;padding:0 0 0 2px"><div><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/e/ed/Nobel_Prize.png/80px-Nobel_Prize.png" decoding="async" width="80" height="79" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/e/ed/Nobel_Prize.png/120px-Nobel_Prize.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/e/ed/Nobel_Prize.png/160px-Nobel_Prize.png 2x" data-file-width="500" data-file-height="492" /></span></span></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">1976–2000</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap">1976: <a href="/wiki/Milton_Friedman" title="Milton Friedman">Milton Friedman</a></span></li> <li><span class="nowrap">1977: <a href="/wiki/Bertil_Ohlin" title="Bertil Ohlin">Bertil Ohlin</a> / <a href="/wiki/James_Meade" title="James Meade">James E. Meade</a></span></li> <li><span class="nowrap">1978: <a href="/wiki/Herbert_A._Simon" title="Herbert A. Simon">Herbert A. Simon</a></span></li> <li><span class="nowrap">1979: <a href="/wiki/Theodore_Schultz" title="Theodore Schultz">Theodore W. Schultz</a> / <a href="/wiki/W._Arthur_Lewis" title="W. Arthur Lewis">Sir Arthur Lewis</a></span></li> <li><span class="nowrap">1980: <a href="/wiki/Lawrence_Klein" title="Lawrence Klein">Lawrence R. Klein</a></span></li> <li><span class="nowrap">1981: <a href="/wiki/James_Tobin" title="James Tobin">James Tobin</a></span></li> <li><span class="nowrap">1982: <a href="/wiki/George_Stigler" title="George Stigler">George J. Stigler</a></span></li> <li><span class="nowrap">1983: <a href="/wiki/G%C3%A9rard_Debreu" title="Gérard Debreu">Gérard Debreu</a></span></li> <li><span class="nowrap">1984: <a href="/wiki/Richard_Stone" title="Richard Stone">Richard Stone</a></span></li> <li><span class="nowrap">1985: <a href="/wiki/Franco_Modigliani" title="Franco Modigliani">Franco Modigliani</a></span></li> <li><span class="nowrap">1986: <a href="/wiki/James_M._Buchanan" title="James M. Buchanan">James M. Buchanan Jr.</a></span></li> <li><span class="nowrap">1987: <a href="/wiki/Robert_Solow" title="Robert Solow">Robert M. Solow</a></span></li> <li><span class="nowrap">1988: <a href="/wiki/Maurice_Allais" title="Maurice Allais">Maurice Allais</a></span></li> <li><span class="nowrap">1989: <a href="/wiki/Trygve_Haavelmo" title="Trygve Haavelmo">Trygve Haavelmo</a></span></li> <li><span class="nowrap">1990: <a href="/wiki/Harry_Markowitz" title="Harry Markowitz">Harry M. Markowitz</a> / <a href="/wiki/Merton_Miller" title="Merton Miller">Merton H. Miller</a> / <a href="/wiki/William_F._Sharpe" title="William F. Sharpe">William F. Sharpe</a></span></li> <li><span class="nowrap">1991: <a href="/wiki/Ronald_Coase" title="Ronald Coase">Ronald H. Coase</a></span></li> <li><span class="nowrap">1992: <a href="/wiki/Gary_Becker" title="Gary Becker">Gary S. Becker</a></span></li> <li><span class="nowrap">1993: <a href="/wiki/Robert_Fogel" title="Robert Fogel">Robert W. Fogel</a> / <a href="/wiki/Douglass_North" title="Douglass North">Douglass C. North</a></span></li> <li><span class="nowrap">1994: <a href="/wiki/John_Harsanyi" title="John Harsanyi">John C. Harsanyi</a> / <a href="/wiki/John_Forbes_Nash_Jr." title="John Forbes Nash Jr.">John F. Nash Jr.</a> / <a href="/wiki/Reinhard_Selten" title="Reinhard Selten">Reinhard Selten</a></span></li> <li><span class="nowrap">1995: <a href="/wiki/Robert_Lucas_Jr." title="Robert Lucas Jr.">Robert E. Lucas Jr.</a></span></li> <li><span class="nowrap">1996: <a href="/wiki/James_Mirrlees" title="James Mirrlees">James A. Mirrlees</a> / <a href="/wiki/William_Vickrey" title="William Vickrey">William Vickrey</a></span></li> <li><span class="nowrap">1997: <a href="/wiki/Robert_C._Merton" title="Robert C. Merton">Robert C. Merton</a> / <a href="/wiki/Myron_Scholes" title="Myron Scholes">Myron S. Scholes</a></span></li> <li><span class="nowrap">1998: <a href="/wiki/Amartya_Sen" title="Amartya Sen">Amartya Sen</a></span></li> <li><span class="nowrap">1999: <a href="/wiki/Robert_Mundell" title="Robert Mundell">Robert A. Mundell</a></span></li> <li><span class="nowrap">2000: <a href="/wiki/James_Heckman" title="James Heckman">James J. Heckman</a> / <a href="/wiki/Daniel_McFadden" title="Daniel McFadden">Daniel L. McFadden</a></span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">2001–present</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap">2001: <a href="/wiki/George_Akerlof" title="George Akerlof">George A. Akerlof</a> / <a href="/wiki/Michael_Spence" title="Michael Spence">A. Michael Spence</a> / <a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Joseph E. Stiglitz</a></span></li> <li><span class="nowrap">2002: <a href="/wiki/Daniel_Kahneman" title="Daniel Kahneman">Daniel Kahneman</a> / <a href="/wiki/Vernon_L._Smith" title="Vernon L. Smith">Vernon L. Smith</a></span></li> <li><span class="nowrap">2003: <a href="/wiki/Robert_F._Engle" title="Robert F. Engle">Robert F. Engle III</a> / <a href="/wiki/Clive_Granger" title="Clive Granger">Clive W.J. Granger</a></span></li> <li><span class="nowrap">2004: <a href="/wiki/Finn_E._Kydland" title="Finn E. Kydland">Finn E. Kydland</a> / <a class="mw-selflink selflink">Edward C. Prescott</a></span></li> <li><span class="nowrap">2005: <a href="/wiki/Robert_Aumann" title="Robert Aumann">Robert J. Aumann</a> / <a href="/wiki/Thomas_Schelling" title="Thomas Schelling">Thomas C. Schelling</a></span></li> <li><span class="nowrap">2006: <a href="/wiki/Edmund_Phelps" title="Edmund Phelps">Edmund S. Phelps</a></span></li> <li><span class="nowrap">2007: <a href="/wiki/Leonid_Hurwicz" title="Leonid Hurwicz">Leonid Hurwicz</a> / <a href="/wiki/Eric_Maskin" title="Eric Maskin">Eric S. Maskin</a> / <a href="/wiki/Roger_Myerson" title="Roger Myerson">Roger B. Myerson</a></span></li> <li><span class="nowrap">2008: <a href="/wiki/Paul_Krugman" title="Paul Krugman">Paul Krugman</a></span></li> <li><span class="nowrap">2009: <a href="/wiki/Elinor_Ostrom" title="Elinor Ostrom">Elinor Ostrom</a> / <a href="/wiki/Oliver_E._Williamson" title="Oliver E. Williamson">Oliver E. Williamson</a></span></li> <li><span class="nowrap">2010: <a href="/wiki/Peter_Diamond" title="Peter Diamond">Peter A. Diamond</a> / <a href="/wiki/Dale_T._Mortensen" title="Dale T. Mortensen">Dale T. Mortensen</a> / <a href="/wiki/Christopher_A._Pissarides" title="Christopher A. Pissarides">Christopher A. Pissarides</a></span></li> <li><span class="nowrap">2011: <a href="/wiki/Thomas_J._Sargent" title="Thomas J. Sargent">Thomas J. Sargent</a> / <a href="/wiki/Christopher_A._Sims" title="Christopher A. Sims">Christopher A. Sims</a></span></li> <li><span class="nowrap">2012: <a href="/wiki/Alvin_E._Roth" title="Alvin E. Roth">Alvin E. Roth</a> / <a href="/wiki/Lloyd_Shapley" title="Lloyd Shapley">Lloyd S. Shapley</a></span></li> <li><span class="nowrap">2013: <a href="/wiki/Eugene_Fama" title="Eugene Fama">Eugene F. Fama</a> / <a href="/wiki/Lars_Peter_Hansen" title="Lars Peter Hansen">Lars Peter Hansen</a> / <a href="/wiki/Robert_J._Shiller" title="Robert J. Shiller">Robert J. Shiller</a></span></li> <li><span class="nowrap">2014: <a href="/wiki/Jean_Tirole" title="Jean Tirole">Jean Tirole</a></span></li> <li><span class="nowrap">2015: <a href="/wiki/Angus_Deaton" title="Angus Deaton">Angus Deaton</a></span></li> <li><span class="nowrap">2016: <a href="/wiki/Oliver_Hart_(economist)" title="Oliver Hart (economist)">Oliver Hart</a> / <a href="/wiki/Bengt_Holmstr%C3%B6m" title="Bengt Holmström">Bengt Holmström</a></span></li> <li><span class="nowrap">2017: <a href="/wiki/Richard_Thaler" title="Richard Thaler">Richard H. Thaler</a></span></li> <li><span class="nowrap">2018: <a href="/wiki/William_Nordhaus" title="William Nordhaus">William Nordhaus</a> / <a href="/wiki/Paul_Romer" title="Paul Romer">Paul Romer</a></span></li> <li><span class="nowrap"><a href="/wiki/2019_Nobel_Memorial_Prize_in_Economic_Sciences" title="2019 Nobel Memorial Prize in Economic Sciences">2019</a>: <a href="/wiki/Abhijit_Banerjee" title="Abhijit Banerjee">Abhijit Banerjee</a> / <a href="/wiki/Esther_Duflo" title="Esther Duflo">Esther Duflo</a> / <a href="/wiki/Michael_Kremer" title="Michael Kremer">Michael Kremer</a></span></li> <li><span class="nowrap"><a href="/wiki/2020_Nobel_Memorial_Prize_in_Economic_Sciences" title="2020 Nobel Memorial Prize in Economic Sciences">2020</a>: <a href="/wiki/Paul_Milgrom" title="Paul Milgrom">Paul Milgrom</a> / <a href="/wiki/Robert_B._Wilson" title="Robert B. Wilson">Robert B. Wilson</a></span></li> <li><span class="nowrap"><a href="/wiki/2021_Nobel_Memorial_Prize_in_Economic_Sciences" title="2021 Nobel Memorial Prize in Economic Sciences">2021</a>: <a href="/wiki/David_Card" title="David Card">David Card</a> / <a href="/wiki/Joshua_Angrist" title="Joshua Angrist">Joshua Angrist</a> / <a href="/wiki/Guido_Imbens" title="Guido Imbens">Guido Imbens</a></span></li> <li><span class="nowrap"><a href="/wiki/2022_Nobel_Memorial_Prize_in_Economic_Sciences" title="2022 Nobel Memorial Prize in Economic Sciences">2022</a>: <a href="/wiki/Ben_Bernanke" title="Ben Bernanke">Ben Bernanke</a> / <a href="/wiki/Douglas_Diamond" title="Douglas Diamond">Douglas Diamond</a> / <a href="/wiki/Philip_H._Dybvig" title="Philip H. Dybvig">Philip H. Dybvig</a></span></li> <li><span class="nowrap"><a href="/wiki/2023_Nobel_Memorial_Prize_in_Economic_Sciences" title="2023 Nobel Memorial Prize in Economic Sciences">2023</a>: <a href="/wiki/Claudia_Goldin" title="Claudia Goldin">Claudia Goldin</a></span></li> <li><span class="nowrap">2024: <a href="/wiki/Daron_Acemoglu" title="Daron Acemoglu">Daron Acemoglu</a> / <a href="/wiki/Simon_Johnson_(economist)" title="Simon Johnson (economist)">Simon Johnson</a> / <a href="/wiki/James_A._Robinson" title="James A. Robinson">James A. Robinson</a></span></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"><style data-mw-deduplicate="TemplateStyles:r886047488">.mw-parser-output .nobold{font-weight:normal}</style></div><div role="navigation" class="navbox" aria-labelledby="2004_Nobel_Prize_laureates" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:2004_Nobel_Prize_winners" title="Template:2004 Nobel Prize winners"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:2004_Nobel_Prize_winners" title="Template talk:2004 Nobel Prize winners"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:2004_Nobel_Prize_winners" title="Special:EditPage/Template:2004 Nobel Prize winners"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="2004_Nobel_Prize_laureates" style="font-size:114%;margin:0 4em">2004 <a href="/wiki/Nobel_Prize" title="Nobel Prize">Nobel Prize</a> laureates</div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Nobel_Prize_in_Chemistry" title="Nobel Prize in Chemistry">Chemistry</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Aaron_Ciechanover" title="Aaron Ciechanover">Aaron Ciechanover</a> (Israel)</li> <li><a href="/wiki/Avram_Hershko" title="Avram Hershko">Avram Hershko</a> (Israel)</li> <li><a href="/wiki/Irwin_Rose" title="Irwin Rose">Irwin Rose</a> (United States)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Nobel_Prize_in_Literature" title="Nobel Prize in Literature">Literature</a> (<a href="/wiki/2004_Nobel_Prize_in_Literature" title="2004 Nobel Prize in Literature">2004</a>)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Elfriede_Jelinek" title="Elfriede Jelinek">Elfriede Jelinek</a> (Austria)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Nobel_Peace_Prize" title="Nobel Peace Prize">Peace</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Wangari_Maathai" class="mw-redirect" title="Wangari Maathai">Wangari Maathai</a> (Kenya)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Nobel_Prize_in_Physics" title="Nobel Prize in Physics">Physics</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/David_Gross" title="David Gross">David Gross</a> (United States)</li> <li><a href="/wiki/Hugh_David_Politzer" title="Hugh David Politzer">Hugh David Politzer</a> (United States)</li> <li><a href="/wiki/Frank_Wilczek" title="Frank Wilczek">Frank Wilczek</a> (United States)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Nobel_Prize_in_Physiology_or_Medicine" title="Nobel Prize in Physiology or Medicine">Physiology or Medicine</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Richard_Axel" title="Richard Axel">Richard Axel</a> (United States)</li> <li><a href="/wiki/Linda_B._Buck" title="Linda B. Buck">Linda B. Buck</a> (United States)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Nobel_Memorial_Prize_in_Economic_Sciences" title="Nobel Memorial Prize in Economic Sciences">Economic Sciences</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Finn_E._Kydland" title="Finn E. Kydland">Finn E. Kydland</a> (Norway)</li> <li><a class="mw-selflink selflink">Edward C. Prescott</a> (United States)</li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <dl><dt><span class="nobold"><a href="/wiki/List_of_Nobel_laureates" title="List of Nobel laureates">Nobel Prize recipients</a></span></dt> <dd><a href="/wiki/Template:1999_Nobel_Prize_winners" title="Template:1999 Nobel Prize winners">1999</a></dd> <dd><a href="/wiki/Template:2000_Nobel_Prize_winners" title="Template:2000 Nobel Prize winners">2000</a></dd> <dd><a href="/wiki/Template:2001_Nobel_Prize_winners" title="Template:2001 Nobel Prize winners">2001</a></dd> <dd><a href="/wiki/Template:2002_Nobel_Prize_winners" title="Template:2002 Nobel Prize winners">2002</a></dd> <dd><a href="/wiki/Template:2003_Nobel_Prize_winners" title="Template:2003 Nobel Prize winners">2003</a></dd> <dd><b>2004 </b></dd> <dd><a href="/wiki/Template:2005_Nobel_Prize_winners" title="Template:2005 Nobel Prize winners">2005</a></dd> <dd><a href="/wiki/Template:2006_Nobel_Prize_winners" title="Template:2006 Nobel Prize winners">2006</a></dd> <dd><a href="/wiki/Template:2007_Nobel_Prize_winners" title="Template:2007 Nobel Prize winners">2007</a></dd> <dd><a href="/wiki/Template:2008_Nobel_Prize_winners" title="Template:2008 Nobel Prize winners">2008</a></dd> <dd><a href="/wiki/Template:2009_Nobel_Prize_winners" title="Template:2009 Nobel Prize winners">2009</a></dd></dl> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox authority-control" aria-labelledby="Authority_control_databases_frameless&#124;text-top&#124;10px&#124;alt=Edit_this_at_Wikidata&#124;link=https&#58;//www.wikidata.org/wiki/Q312585#identifiers&#124;class=noprint&#124;Edit_this_at_Wikidata" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" 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class="navbox-group" style="width:1%">National</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"><ul><li><span class="uid"><a rel="nofollow" class="external text" href="https://d-nb.info/gnd/128531010">Germany</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://id.loc.gov/authorities/n86804541">United States</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://catalogue.bnf.fr/ark:/12148/cb12279449v">France</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://data.bnf.fr/ark:/12148/cb12279449v">BnF data</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://aleph.nkp.cz/F/?func=find-c&local_base=aut&ccl_term=ica=jn20020723066&CON_LNG=ENG">Czech Republic</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="http://data.bibliotheken.nl/id/thes/p083286322">Netherlands</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://authority.bibsys.no/authority/rest/authorities/html/90347043">Norway</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="http://katalog.nsk.hr/F/?func=direct&doc_number=000376440&local_base=nsk10">Croatia</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://lod.nl.go.kr/resource/KAC202140585">Korea</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://libris.kb.se/c9prvtvw2wwzg2l">Sweden</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://dbn.bn.org.pl/descriptor-details/9810584206705606">Poland</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" 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href="https://zbmath.org/authors/?q=ai:prescott.edward-c">zbMATH</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://mathscinet.ams.org/mathscinet/MRAuthorID/141940">MathSciNet</a></span></li></ul></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"><ul><li><span class="uid"><a rel="nofollow" class="external text" href="https://www.idref.fr/031613446">IdRef</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://snaccooperative.org/ark:/99166/w6699xbv">SNAC</a></span></li></ul></div></td></tr></tbody></table></div>    </div><noscript><img src="https://login.wikimedia.org/wiki/Special:CentralAutoLogin/start?type=1x1" alt="" width="1" height="1" style="border: none; position: absolute;"></noscript> <div class="printfooter" data-nosnippet="">Retrieved from "<a dir="ltr" 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