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Edward Prescott

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Journal Article
History of Political Economy (2017) 49 (1): 137–159.
Published: 01 March 2017
...Danilo Freitas Ramalho da Silva This article describes the work of Robert E. Lucas Jr. in the late 1960s, which culminated in the modeling and testing of the natural rate of unemployment hypothesis. I show the roles played by Edmund Phelps and Edward Prescott in Lucas's transition from adaptive...
Journal Article
History of Political Economy (2009) 41 (Suppl_1): 334–355.
Published: 01 December 2009
... of this “black box.” Edward Prescott has remained committed to his earlier interpretation of the “Solow residual” as stochastic technology. Others have sought to bracket multiple supply shocks as the residual, abandoning attempts to decompose it. To the New Keynesians the “residual” has been more evidence...
Journal Article
History of Political Economy (2019) 51 (3): 579–599.
Published: 01 June 2019
... of calculation and refine the results. The Solow residual inspired a surge of interest (and criticism) in the 1980s when used by Finn Kydland and Edward Prescott to justify empirically the concept of technology shocks. In this paper, I argue that the resulting debates were not essentially different from those...
Journal Article
History of Political Economy (2005) 37 (2): 227–232.
Published: 01 June 2005
..., and Pamela Lynn Abraham. 1978 . Economics: Simon Says. Newsweek , 30 October, 70 . Prescott, Edward C., ed. 1978 . Papers in Honor of Herbert A. Simon. Bell Journal of Economics 9.2 : 491 -608. Radner, Roy. 1986 . Can Bounded Rationality Resolve the Prisoners' Dilemma? In Contributions...
Journal Article
History of Political Economy (2012) 44 (suppl_1): 226–249.
Published: 01 December 2012
... . Cooley Thomas F. Prescott Edward C. . 1995 . “ Economic Growth and Business Cycles .” In Frontiers of Business Cycle Research , edited by Cooley Thomas F. Prescott Edward C. . Princeton : Princeton University Press . Demiralp Selva Hoover Kevin D. Perez Stephen J...
Journal Article
History of Political Economy (1997) 29 (suppl_1): 289–308.
Published: 01 January 1997
... aggregate instability could be explained in terms of models that allowed for real shocks. Real business cycle theory of Finn Kydland and Edward Prescott (1982) and John Long and Charles Plosser (1983), we might here argue, threw over the monetary distur­ bance impulse mechanism...
Journal Article
History of Political Economy (2001) 33 (4): 773–813.
Published: 01 November 2001
... as chapter 5 of a book ThomasSargent and I edited, Rational Expectations and Econometric Practice. Edward Prescott and I used Rational Expectations in our 1971 Econometrica paper, ‘Investment Under UncertaintyLucas continued: “I know nothing of the history of thisidea before Muth’swork. I had been...
Journal Article
History of Political Economy (2009) 41 (Suppl_1): 182–199.
Published: 01 December 2009
... and Edward Prescott explicitly attempts to achieve this integration, but does so in a way that is the converse of Tobin’s. While Tobin’s objective was to inte- grate what are conventionally regarded as short-run factors such as wage and price rigidity and portfolio balance requirements into the long...
Journal Article
History of Political Economy (2004) 36 (4): 689–734.
Published: 01 November 2004
.... Koopmans, T. C. [1947] 1966 . Measurement without Theory. In Readings in Business Cycle Theory , edited by the American Association of Economists, 186 -203. London: Unwin. Kydland, F., and E. Prescott. 1982 . Time to Build and Aggregate Fluctuations. Econometrica 50.6 : 1345 -69. ____. 1990...
Journal Article
History of Political Economy (2009) 41 (Suppl_1): 67–87.
Published: 01 December 2009
...” metaphor, which was used on the very fi rst page of Solow’s 1956 classic, was perpetuated in Edward Prescott’s (1988, 8) remarks on Solow’s contributions deserving the Nobel Prize, and is still commonly used today. What made Harrod furious, who fought a lifelong hopeless battle against “Harrod’s...
Journal Article
History of Political Economy (2020) 52 (S1): 143–167.
Published: 01 December 2020
... Robert E. 2004 . “ Keynote Address to the 2003 HOPE Conference: My Keynesian Education .” In The IS-LM Model , edited by Vroey Michel De Hoover Kevin D. . History of Political Economy 36 ( supplement ): 12 – 24 . Lucas Robert E. Prescott Edward C...
Journal Article
History of Political Economy (2020) 52 (5): 827–861.
Published: 01 October 2020
... No. 2016–26 . Prescott Edward . 2006 . “ Nobel Lecture: The Transformation of Macroeconomic Policy and Research .” Journal of Political Economy 114 , no. 2 : 203 – 35 . Rodrik Dani . 2015 . Economics Rules: The Rights and Wrongs of the Dismal Science . London : W. W...
Journal Article
History of Political Economy (2013) 45 (1): 39–59.
Published: 01 March 2013
... at the Nordic Meeting on the History of Economic Thought , Oldenburg , August . Kydland Finn Prescott Edward . 1977 . “ Rules Rather Than Discretion: The Inconsistency of Optimal Plans .” Journal of Political Economy 85 : 473 – 90 . Laidler David . 1991 . The Golden Age...
Journal Article
History of Political Economy (2009) 41 (4): 754–756.
Published: 01 November 2009
... and insightful interviews with key players: Milton Friedman, James Tobin, Robert Lucas, Robert Solow, Paul Romer, Gregory Mankiw, Edward Prescott, and Alberto Alesina, as well as Keynes’s biographer and historian, Robert Skidelsky. I am not one to complain about internalist history. It remains highly...
Journal Article
History of Political Economy (2009) 41 (4): 758–759.
Published: 01 November 2009
... and insightful interviews with key players: Milton Friedman, James Tobin, Robert Lucas, Robert Solow, Paul Romer, Gregory Mankiw, Edward Prescott, and Alberto Alesina, as well as Keynes’s biographer and historian, Robert Skidelsky. I am not one to complain about internalist history. It remains highly...
Journal Article
History of Political Economy (2009) 41 (4): 749–751.
Published: 01 November 2009
..., but internalist—mainly sticking to the published record. The major exception is a Snowdon and Vane trademark—rich and insightful interviews with key players: Milton Friedman, James Tobin, Robert Lucas, Robert Solow, Paul Romer, Gregory Mankiw, Edward Prescott, and Alberto Alesina, as well as Keynes’s...
Journal Article
History of Political Economy (2009) 41 (4): 751–752.
Published: 01 November 2009
... and insightful interviews with key players: Milton Friedman, James Tobin, Robert Lucas, Robert Solow, Paul Romer, Gregory Mankiw, Edward Prescott, and Alberto Alesina, as well as Keynes’s biographer and historian, Robert Skidelsky. I am not one to complain about internalist history. It remains highly...
Journal Article
History of Political Economy (2009) 41 (4): 752–754.
Published: 01 November 2009
... and insightful interviews with key players: Milton Friedman, James Tobin, Robert Lucas, Robert Solow, Paul Romer, Gregory Mankiw, Edward Prescott, and Alberto Alesina, as well as Keynes’s biographer and historian, Robert Skidelsky. I am not one to complain about internalist history. It remains highly...
Journal Article
History of Political Economy (2009) 41 (4): 756–758.
Published: 01 November 2009
... and insightful interviews with key players: Milton Friedman, James Tobin, Robert Lucas, Robert Solow, Paul Romer, Gregory Mankiw, Edward Prescott, and Alberto Alesina, as well as Keynes’s biographer and historian, Robert Skidelsky. I am not one to complain about internalist history. It remains highly...
Journal Article
History of Political Economy (2009) 41 (4): 760–762.
Published: 01 November 2009
... is a Snowdon and Vane trademark—rich and insightful interviews with key players: Milton Friedman, James Tobin, Robert Lucas, Robert Solow, Paul Romer, Gregory Mankiw, Edward Prescott, and Alberto Alesina, as well as Keynes’s biographer and historian, Robert Skidelsky. I am not one to complain...