Finn E. Kydland

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 …

David K. Backus · Patrick J. Kehoe · Finn E. Kydland

Backus, Kehoe, and Kydland build a two-country extension of Kydland and Prescott's (1982) closed-economy real-business-cycle model -- with complete international asset markets, country-specific …

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 …

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 …