Finn E. Kydland

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Finn E. Kydland (2004)

Finn Erling Kydland (born December 1, 1943 in Ålgård near Stavanger ) is a Norwegian economist . Along with Edward C. Prescott , he received in 2004 for his contributions to dynamic macroeconomics the Nobel Prize in Economics .

Life

Kydland grew up as the oldest of six siblings on their parents' farm in Søyland, Gjesdal, in the Jæren region in southwestern Norway. He received his PhD in economics from Carnegie Mellon University in 1973 . Kydland has always worked with Edward C. Prescott . Kydland and Prescott examined why the economy does not develop evenly, but why phases of upswing are repeatedly followed by phases of recession . In essence, they come to the conclusion that the responsibility for this lies in the intermittent development of new technologies. This changes prices , productivity and wages and thus triggers business cycles . Another area of ​​investigation concerns the influence of monetary and economic policy on these cycles. Here they come to the conclusion: "The more credible politics and the National Bank are, the more stable the respective economic development is." The committee emphasized that the essential importance of the results on the practice of many countries with regard to monetary and economic policy was a decisive factor in the award the price had.

Kydland is Professor of Economics at the Tepper School of Business at Carnegie Mellon University and at the University of California, Santa Barbara . He is also a professor at the Norwegian Business School in Bergen.

literature

Web links

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