Edward C. Prescott

Finn E. Kydland · Edward C. Prescott

This 1990 Federal Reserve Bank of Minneapolis Quarterly Review paper argues that reporting business cycle facts without first assuming the data are generated by some probability model is a legitimate …

Edward C. Prescott

This 1986 Federal Reserve Bank of Minneapolis Quarterly Review piece is Edward Prescott's direct reply, in the same issue, to Lawrence Summers's "Some Skeptical Observations on Real Business Cycle …

Finn E. Kydland · Edward C. Prescott

This 1977 Journal of Political Economy paper by Finn Kydland and Edward Prescott argues that optimal control theory -- the standard technique proposed for macroeconomic stabilization policy -- is not …

Rajnish Mehra · Edward C. Prescott

This 1985 Journal of Monetary Economics paper by Rajnish Mehra and Edward C. Prescott documents that over 1889-1978 U.S. equities earned about seven percent real return per year on average while …

Finn E. Kydland · Edward C. Prescott

This 1982 Econometrica paper by Finn Kydland and Edward Prescott builds an equilibrium growth model, fitted to post-war U.S. quarterly data, in which business-cycle fluctuations arise from technology …