Details about Edward C. Prescott

Homepage:	http://www.minneapolisfed.org/research/prescott/
Postal address:	Research Department Federal Reserve Bank of Minneapolis P.O. Box 291 Minneapolis, MN 55480-0291 USA
Workplace:	Department of Economics, College of Business, Arizona State University, (more information at EDIRC) Research Department, Federal Reserve Bank of Minneapolis, (more information at EDIRC)

Access statistics for papers by Edward C. Prescott.

Last updated 2009-10-31. Update your information in the RePEc Author Service.

Short-id: ppr10

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Working Papers

2009

1. Technology capital and the U.S. current account
   Staff Report, Federal Reserve Bank of Minneapolis View citations
   Also in Levine's Bibliography, UCLA Department of Economics (2008)
   NBER Working Papers, National Bureau of Economic Research, Inc (2008)
   Working Papers, Federal Reserve Bank of Minneapolis (2007)
2. Technology capital and the U.S. current account (appendices)
   Staff Report, Federal Reserve Bank of Minneapolis
3. Unmeasured investment and the puzzling U.S. boom in the 1990s
   Staff Report, Federal Reserve Bank of Minneapolis
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations
4. Unmeasured investment and the puzzling U.S. boom in the 1990s (technical appendix)
   Staff Report, Federal Reserve Bank of Minneapolis

2008

5. Intermediated Quantities and Returns
   NBER Working Papers, National Bureau of Economic Research, Inc
   Also in Levine's Bibliography, UCLA Department of Economics (2007)
   Working Papers, Federal Reserve Bank of Minneapolis (2007)
   Staff Report, Federal Reserve Bank of Minneapolis (2008)
6. Openness, technology capital, and development
   Staff Report, Federal Reserve Bank of Minneapolis View citations
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations
   Working Papers, Federal Reserve Bank of Minneapolis (2007) View citations
7. Using the general equilibrium growth model to study great depressions: a reply to Temin
   Staff Report, Federal Reserve Bank of Minneapolis View citations

2007

8. Lifetime aggregate labor supply with endogenous workweek length
   Staff Report, Federal Reserve Bank of Minneapolis
   See also Journal Article in Review of Economic Dynamics (2009)

2006

9. On the needed quantity of government debt
   Working Papers, Federal Reserve Bank of Minneapolis
   See also Journal Article in Quarterly Review (2007)
10. The Depressing Effect of Agricultural Institutions on the Prewar Japanese Economy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of Political Economy (2008)
11. Why Did U.S. Market Hours Boom in the 1990s?
    2006 Meeting Papers, Society for Economic Dynamics
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006)

2005

12. Autobiography
    Nobel Prize in Economics documents, Nobel Prize Committee
13. Expensed and sweat equity
    Working Papers, Federal Reserve Bank of Minneapolis
14. Productivity and the Post-1990 U.S. Economy
    2005 Meeting Papers, Society for Economic Dynamics View citations
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2005) View citations
    Levine's Bibliography, UCLA Department of Economics (2004)
    See also Journal Article in Review (2005)
15. Taxes, regulations, and the value of U.S. and U.K. corporations
    Staff Report, Federal Reserve Bank of Minneapolis View citations
    Also in Levine's Bibliography, UCLA Department of Economics (2004) View citations
    See also Journal Article in Review of Economic Studies (2005)

2004

16. A Unified Theory of the Evolution of International Income Levels
    Levine's Bibliography, UCLA Department of Economics View citations
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2004) View citations
    See also Chapter (2005)
17. Interview with the 2004 Laureates in Economics, Finn E. Kydland and Edward C. Prescott
    Nobel Prize in Economics documents, Nobel Prize Committee
18. Predictions of the Price of Capital
    2004 Meeting Papers, Society for Economic Dynamics
19. The Transformation of Macroeconomic Policy and Research
    Nobel Prize in Economics documents, Nobel Prize Committee
    See also Journal Article in Annual Report (2005)
20. Why Do Americans Work So Much More Than Europeans?
    Levine's Bibliography, UCLA Department of Economics View citations
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2003) View citations
    NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations
    See also Journal Article in Quarterly Review (2004)

2003

21. Average Debt and Equity Returns: Puzzling?
    Levine's Bibliography, UCLA Department of Economics View citations
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2003) View citations
    See also Journal Article in American Economic Review (2003)
22. Non-Convexities in Quantitative General Equilibrium Studies of Business Cycles
    Levine's Bibliography, UCLA Department of Economics View citations
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2003) View citations
23. The 1929 stock market: Irving Fisher was right
    Staff Report, Federal Reserve Bank of Minneapolis
    See also Journal Article in International Economic Review (2004)
24. The Equity Premium in Retrospect
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Chapter (2003)

2002

25. Data Appendix to Great Depressions of the Twentieth Century
    Technical Appendices, Review of Economic Dynamics
    See also Journal Article in Review of Economic Dynamics (2002)
26. Data Appendix to The 1990s in Japan: A Lost Decade
    Technical Appendices, Review of Economic Dynamics
    See also Journal Article in Review of Economic Dynamics (2002)
27. Introduction to Sunspots and Lotteries
    Working Papers, Cornell University, Center for Analytic Economics
    See also Journal Article in Journal of Economic Theory (2002)
28. Prosperity and Depression: 2002 Richard T. Ely Lecture
    Working Papers, Federal Reserve Bank of Minneapolis View citations

2001

29. Is the Stock Market Overvalued?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Quarterly Review (2000)
30. Taxes, Regulations, and Asset Prices
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Working Papers, Federal Reserve Bank of Minneapolis (2001) View citations
31. The Stock Market Crash of 1929: Irving Fisher Was Right!
    NBER Working Papers, National Bureau of Economic Research, Inc

2000

32. Lotteries, Sunspots and Incentive Constraints
    Levine's Working Paper Archive, David K. Levine View citations
    See also Journal Article in Journal of Economic Theory (2002)
33. On the equilibrium concept for overlapping generations organizations
    Working Papers, Federal Reserve Bank of Minneapolis View citations
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2000) View citations
34. The 1990s in Japan: a lost decade
    Working Papers, Federal Reserve Bank of Minneapolis View citations
    See also Journal Article in Review of Economic Dynamics (2002)

1999

35. Malthus to Solow
    Staff Report, Federal Reserve Bank of Minneapolis View citations
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1998) View citations
    See also Journal Article in American Economic Review (2002)

1998

36. Business cycle research: methods and problems
    Working Papers, Federal Reserve Bank of Minneapolis View citations

1997

37. Monopoly rights: a barrier to riches
    Staff Report, Federal Reserve Bank of Minneapolis View citations
    See also Journal Article in American Economic Review (1999)
38. Needed: a theory of total factor productivity
    Staff Report, Federal Reserve Bank of Minneapolis View citations
    See also Journal Article in International Economic Review (1998)

1996

39. Valuation equilibria with clubs
    Staff Report, Federal Reserve Bank of Minneapolis View citations
    See also Journal Article in Journal of Economic Theory (1997)

1994

40. Equilibrium business cycles with idle resources and variable capacity utilization
    Working Papers, Federal Reserve Bank of Philadelphia
    See also Journal Article in Economic Theory (1995)
41. The computational experiment: an econometric tool
    Working Paper, Federal Reserve Bank of Cleveland View citations
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1994) View citations
    See also Journal Article in Journal of Economic Perspectives (1996)

1993

42. Effects of alternative monetary stabilization policies: an unexpected finding
    Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco View citations

1992

43. Banking in computable general equilibrium economies
    Staff Report, Federal Reserve Bank of Minneapolis View citations
    See also Journal Article in Journal of Economic Dynamics and Control (1992)
44. Liquidity constraints in economies with aggregate fluctuations: a quantitative exploration
    Staff Report, Federal Reserve Bank of Minneapolis View citations
45. Recursive methods for computing equilibria of business cycle models
    Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis View citations

1991

46. Seigniorage As a Tax: A Quantitative Evaluation
    Working Papers, Southern California - School of Business Administration View citations
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1991) View citations
    See also Journal Article in Journal of Money, Credit and Banking (1991)
47. Technology Adoption and Growth
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1991) View citations

1990

48. The econometrics of the general equilibrium approach to business cycles
    Staff Report, Federal Reserve Bank of Minneapolis View citations
    See also Journal Article in Scandinavian Journal of Economics (1991)

1989

49. Hours and employment variation in business cycle theory
    Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis View citations
    See also Journal Article in Economic Theory (1991)
50. The firm and the plant in general equilibrium theory
    Staff Report, Federal Reserve Bank of Minneapolis View citations

1988

51. Organizations in economic analysis
    Working Papers, Federal Reserve Bank of Minneapolis View citations
    See also Journal Article in Canadian Journal of Economics (1988)
52. Time consistency and policy
    Staff Report, Federal Reserve Bank of Minneapolis View citations

1986

53. Dynamic coalitions, growth, and the firm
    Staff Report, Federal Reserve Bank of Minneapolis View citations
54. Theory ahead of business cycle measurement
    Staff Report, Federal Reserve Bank of Minneapolis View citations
    See also Journal Article in Quarterly Review (1986)

1985

55. Financial intermediary-coalitions
    Staff Report, Federal Reserve Bank of Minneapolis View citations
    See also Journal Article in Journal of Economic Theory (1986)

1983

56. "Can the cycle be reconciled with a consistent theory of expectations?" - or a progress report on business cycle theory
    Working Papers, Federal Reserve Bank of Minneapolis View citations

1982

57. A test of the intertemporal asset pricing model
    Staff Report, Federal Reserve Bank of Minneapolis View citations

1981

58. Post-War U.S. Business Cycles: An Empirical Investigation
    Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science View citations
    See also Journal Article in Journal of Money, Credit and Banking (1997)

1980

59. Time to Build and the Persistence of Unemployment
    Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science

1979

60. Dynamic Optimal Taxation
    The Warwick Economics Research Paper Series (TWERPS), University of Warwick, Department of Economics

Journal Articles

2009

1. Lifetime Aggregate Labor Supply with Endogenous Workweek Length
   Review of Economic Dynamics, 2009, 12, (1), 23-36 View citations
   See also Working Paper (2007)

2008

2. Introduction of the special issue: Economic theory in honor of Charalambos D. Aliprantis
   Journal of Mathematical Economics, 2008, 44, (7-8), 551-552
3. The Depressing Effect of Agricultural Institutions on the Prewar Japanese Economy
   Journal of Political Economy, 2008, 116, (4), 573-632 View citations
   See also Working Paper (2006)

2007

4. EconomicDynamics Interviews Timothy Kehoe and Edward Prescott on Great Depressions
   EconomicDynamics Newsletter, 2007, 9, (1)
5. On the needed quantity of government debt
   Quarterly Review, 2007, (Nov), 2-15
   See also Working Paper (2006)
6. Review 3
   Economic Journal, 2007, 117, (524), F648-F650

2006

7. Nobel Lecture: The Transformation of Macroeconomic Policy and Research
   Journal of Political Economy, 2006, 114, (2), 203-235 View citations

2005

8. COMMENTS ON "INFLATION, OUTPUT, AND WELFARE" BY RICARDO LAGOS AND GUILLAUME ROCHETEAU
   International Economic Review, 2005, 46, (2), 523-531
9. Capacity constraints, asymmetries, and the business cycle
   Review of Economic Dynamics, 2005, 8, (4), 850-865 View citations
10. ON EQUILIBRIUM FOR OVERLAPPING GENERATIONS ORGANIZATIONS *
    International Economic Review, 2005, 46, (4), 1065-1080
11. Productivity and the post-1990 U.S. economy
    Review, 2005, (Jul), 537-550 View citations
    See also Working Paper (2005)
12. Taxes, Regulations, and the Value of U.S. and U.K. Corporations
    Review of Economic Studies, 2005, 72, (3), 767-796 View citations
    See also Working Paper (2005)
13. The transformation of macroeconomic policy and research
    Annual Report, 2005, 6-27
    See also Working Paper (2004)

2004

14. THE 1929 STOCK MARKET: IRVING FISHER WAS RIGHT
    International Economic Review, 2004, 45, (4), 991-1009
    See also Working Paper (2003)
15. Why do Americans work so much more than Europeans?
    Quarterly Review, 2004, (Jul), 2-13 View citations
    See also Working Paper (2004)

2003

16. Average Debt and Equity Returns: Puzzling?
    American Economic Review, 2003, 93, (2), 392-397 View citations
    See also Working Paper (2003)
17. In Memoriam: Bruce D. Smith (1954–2002)
    Economic Theory, 2003, 21, (1), a5-a5

2002

18. Great Depressions of the Twentieth Century
    Review of Economic Dynamics, 2002, 5, (1), 1-18 View citations
    See also Book (2007)
    Working Paper (2002)
19. Introduction to Sunspots and Lotteries
    Journal of Economic Theory, 2002, 107, (1), 1-10
    See also Working Paper (2002)
20. Lotteries, Sunspots, and Incentive Constraints
    Journal of Economic Theory, 2002, 107, (1), 39-69 View citations
    See also Working Paper (2000)
21. Malthus to Solow
    American Economic Review, 2002, 92, (4), 1205-1217 View citations
    See also Working Paper (1999)
22. Prosperity and Depression
    American Economic Review, 2002, 92, (2), 1-15 View citations
23. The 1990s in Japan: A Lost Decade
    Review of Economic Dynamics, 2002, 5, (1), 206-235 View citations
    See also Working Paper (2000)
    Working Paper (2002)

2000

24. Is the stock market overvalued?
    Quarterly Review, 2000, (Fall), 20-40 View citations
    See also Working Paper (2001)

1999

25. Monopoly Rights: A Barrier to Riches
    American Economic Review, 1999, 89, (5), 1216-1233 View citations
    See also Working Paper (1997)
26. Some observations on the Great Depression
    Quarterly Review, 1999, (Win), 25-29 View citations

1998

27. Needed: A Theory of Total Factor Productivity
    International Economic Review, 1998, 39, (3), 525-51 View citations
    See also Working Paper (1997)

1997

28. On defining real consumption
    Review, 1997, (May), 47-53 View citations
29. Postwar U.S. Business Cycles: An Empirical Investigation
    Journal of Money, Credit and Banking, 1997, 29, (1), 1-16 View citations
    See also Working Paper (1981)
    Software Item (1982)
30. Real returns on government debt: A general equilibrium quantitative exploration
    European Economic Review, 1997, 41, (1), 115-137 View citations
31. Valuation Equilibrium with Clubs
    Journal of Economic Theory, 1997, 74, (1), 19-39 View citations
    See also Working Paper (1996)

1996

32. Inflation targeting in a St. Louis model of the 21st century - commentary
    Proceedings, 1996, (May), 112-117
33. The Computational Experiment: An Econometric Tool
    Journal of Economic Perspectives, 1996, 10, (1), 69-85 View citations
    See also Working Paper (1994)

1995

34. Computable General Equilibrium Models and Monetary Policy Advice: Comment
    Journal of Money, Credit and Banking, 1995, 27, (4), 1502-05
35. Equilibrium Business Cycles with Idle Resources and Variable Capacity Utilization
    Economic Theory, 1995, 6, (1), 35-49 View citations
    See also Working Paper (1994)
36. Introduction to the Symposium: The Discipline of Applied General Equilibrium
    Economic Theory, 1995, 6, (1), 1-11 View citations

1994

37. Barriers to Technology Adoption and Development
    Journal of Political Economy, 1994, 102, (2), 298-321 View citations
38. Stationary Solution to the Overlapping Generations Model of Fiat Money: Experimental Evidence
    Empirical Economics, 1994, 19, (2), 255-77 View citations

1993

39. Changes in the wealth of nations
    Quarterly Review, 1993, (Spr), 3-16 View citations
40. Cyclical movements of the labor input and its implicit real wage
    Economic Review, 1993, (Q II), 12-23 View citations
41. Did Technology Shocks Cause the 1990-1991 Recession?
    American Economic Review, 1993, 83, (2), 280-86 View citations
42. Effects of monetary policies: an unexpected finding
    Proceedings, 1993, (Mar) View citations

1992

43. Banking in computable general equilibrium economies
    Journal of Economic Dynamics and Control, 1992, 16, (3-4), 533-559 View citations
    See also Working Paper (1992)
44. Stochastic Monotonicity and Stationary Distributions for Dynamic Economies
    Econometrica, 1992, 60, (6), 1387-406 View citations

1991

45. Evaluating the welfare effects of alternative monetary arrangements
    Quarterly Review, 1991, (Sum), 3-10 View citations
46. Hours and Employment Variation in Business Cycle Theory
    Economic Theory, 1991, 1, (1), 63-81 View citations
    See also Working Paper (1989)
47. Insurance Contracts as Commodities: A Note
    Review of Economic Studies, 1991, 58, (5), 917-28 View citations
48. Seigniorage as a Tax: A Quantitative Evaluation
    Journal of Money, Credit and Banking, 1991, 23, (3), 462-75 View citations
    Also in Proceedings, 1991, 462-482 (1991) View citations
    See also Working Paper (1991)
49. The Econometrics of the General Equilibrium Approach to Business Cycles
    Scandinavian Journal of Economics, 1991, 93, (2), 161-78 View citations
    See also Working Paper (1990)

1990

50. Business cycles: real facts and a monetary myth
    Quarterly Review, 1990, (Spr), 3-18 View citations
51. The timing of raises and other payments: A comment
    Carnegie-Rochester Conference Series on Public Policy, 1990, 33, (1), 49-52

1988

52. Organizations in Economic Analysis
    Canadian Journal of Economics, 1988, 21, (3), 477-91 View citations
    See also Working Paper (1988)
53. Robert M. Solow's Neoclassical Growth Model: An Influential Contribution to Economics
    Scandinavian Journal of Economics, 1988, 90, (1), 7-12
54. The equity risk premium: A solution?
    Journal of Monetary Economics, 1988, 22, (1), 133-136 View citations
55. The workweek of capital and its cyclical implications
    Journal of Monetary Economics, 1988, 21, (2-3), 343-360 View citations

1987

56. Dynamic Coalitions: Engines of Growth
    American Economic Review, 1987, 77, (2), 63-67 View citations

1986

57. Financial intermediary-coalitions
    Journal of Economic Theory, 1986, 38, (2), 211-232 View citations
    See also Working Paper (1985)
58. Response to a skeptic
    Quarterly Review, 1986, (Fall), 28-33 View citations
59. Theory ahead of business cycle measurement
    Quarterly Review, 1986, (Fall), 9-22 View citations
    Also in Carnegie-Rochester Conference Series on Public Policy, 1986, 25, (1), 11-44 (1986) View citations
    See also Working Paper (1986)

1985

60. The equity premium: A puzzle
    Journal of Monetary Economics, 1985, 15, (2), 145-161 View citations

1984

61. General Competitive Analysis in an Economy with Private Information
    International Economic Review, 1984, 25, (1), 1-20 View citations
62. Pareto Optima and Competitive Equilibria with Adverse Selection and Moral Hazard
    Econometrica, 1984, 52, (1), 21-45 View citations

1982

63. Time to Build and Aggregate Fluctuations
    Econometrica, 1982, 50, (6), 1345-70 View citations
    See also Software Item (1982)
    Software Item (1982)

1980

64. Comments on the current state of the theory of aggregate investment behavior
    Carnegie-Rochester Conference Series on Public Policy, 1980, 12, (1), 93-101
65. Dynamic optimal taxation, rational expectations and optimal control
    Journal of Economic Dynamics and Control, 1980, 2, (1), 79-91 View citations
66. Organization Capital
    Journal of Political Economy, 1980, 88, (3), 446-61 View citations
67. Recursive Competitive Equilibrium: The Case of Homogeneous Households
    Econometrica, 1980, 48, (6), 1365-79 View citations

1978

68. Papers in Honor of Herbert A. Simon: An Introduction
    Bell Journal of Economics, 1978, 9, (2), 491-493

1977

69. Rules Rather Than Discretion: The Inconsistency of Optimal Plans
    Journal of Political Economy, 1977, 85, (3), 473-91 View citations
70. Sequential Location among Firms with Foresight
    Bell Journal of Economics, 1977, 8, (2), 378-393 View citations
71. Should control theory be used for economic stabilization?
    Carnegie-Rochester Conference Series on Public Policy, 1977, 7, (1), 13-38 View citations
72. Should control theory be used for economic stabilization?: A rejoinder
    Carnegie-Rochester Conference Series on Public Policy, 1977, 7, (1), 101-102

1976

73. Estimation in the Presence of Stochastic Parameter Variation
    Econometrica, 1976, 44, (1), 167-84 View citations

1975

74. Efficiency of the Natural Rate
    Journal of Political Economy, 1975, 83, (6), 1229-36 View citations

1974

75. Equilibrium search and unemployment
    Journal of Economic Theory, 1974, 7, (2), 188-209 View citations

1973

76. An Adaptive Regression Model
    International Economic Review, 1973, 14, (2), 364-71 View citations
77. Market structure and monopoly profits: A dynamic theory
    Journal of Economic Theory, 1973, 6, (6), 546-557 View citations
78. Tests of an Adaptive Regression Model
    The Review of Economics and Statistics, 1973, 55, (2), 248-56 View citations

1972

79. A Note on Price Systems in Infinite Dimensional Space
    International Economic Review, 1972, 13, (2), 416-22 View citations
80. The Multi-Period Control Problem Under Uncertainty
    Econometrica, 1972, 40, (6), 1043-58 View citations

1971

81. Investment Under Uncertainty
    Econometrica, 1971, 39, (5), 659-81 View citations

Books

2007

1. Great depressions of the twentieth century
   Monograph, Federal Reserve Bank of Minneapolis View citations
   See also Journal Article in Review of Economic Dynamics (2002)

2002

2. Barriers to Riches, vol 1
   MIT Press Books, The MIT Press View citations

Chapters

2005

1. A Unified Theory of the Evolution of International Income Levels
   Chapter 21 in Handbook of Economic Growth, 2005, vol. 1, Part B, pp 1371-1416 View citations
   See also Working Paper (2004)

2003

2. The equity premium in retrospect
   Chapter 14 in Handbook of the Economics of Finance, 2003, vol. 1, Part 2, pp 889-938 View citations
   See also Working Paper (2003)

1980

3. A Competitive Theory of Fluctuations and the Feasibility and Desirability of Stabilization Policy
   A chapter in Rational Expectations and Economic Policy, 1980, pp 169-198 View citations

Software Items

1982

1. Executable program for "Time to Build and Aggregate Fluctuations"
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
   See also Journal Article in Econometrica (1982)
2. FORTRAN code for the Hodrick-Prescott filter
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
   See also Journal Article in Journal of Money, Credit and Banking (1997)
3. Web interface for "Time to Build and Aggregate Fluctuations"
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
   See also Journal Article in Econometrica (1982)