Edward C. Prescott | Academic Influence

Edward C. Prescott's AcademicInfluence.com Rankings

Edward C. Prescott

Economics

#30

World Rank

#52

Historical Rank

#23

USA Rank

Macroeconomics

#9

World Rank

#11

Historical Rank

#6

USA Rank

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Economics

Edward C. Prescott's Degrees

PhD Economics Carnegie Mellon University
Masters Operations Research Case Western Reserve University
Bachelors Mathematics Swarthmore College

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Why Is Edward C. Prescott Influential?

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According to Wikipedia, Edward Christian Prescott was an American economist. He received the Nobel Memorial Prize in Economics in 2004, sharing the award with Finn E. Kydland, "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles". This research was primarily conducted while both Kydland and Prescott were affiliated with the Graduate School of Industrial Administration at Carnegie Mellon University. According to the IDEAS/RePEc rankings, he was the 19th most widely cited economist in the world in 2013. In August 2014, Prescott was appointed an Adjunct Distinguished Economic Professor at the Australian National University in Canberra, Australia. Prescott died of cancer on November 6, 2022, at the age of 81.

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Edward C. Prescott's Published Works

Number of citations in a given year to any of this author's works

Total number of citations to an author for the works they published in a given year. This highlights publication of the most important work(s) by the author

Published Works

Rules Rather than Discretion: The Inconsistency of Optimal Plans (1977) (7744)
Postwar U.S. Business Cycles: An Empirical Investigation (1997) (7260)
Time to Build and Aggregate Fluctuations (1982) (5720)
Investment Under Uncertainty (1971) (5544)
Recursive methods in economic dynamics (1989) (1970)
Theory ahead of business-cycle measurement (1986) (1873)
Financial intermediary-coalitions (1986) (1367)
Barriers to Technology Adoption and Development (1994) (1261)
Malthus to Solow (1998) (980)
Business cycles: real facts and a monetary myth (1990) (948)
Needed: a theory of total factor productivity (1998) (918)
The 1990s in Japan: A Lost Decade (2000) (874)
Barriers to riches (2000) (858)
" Rational " Expectations , the Optimal Monetary Instrument , and the Optimal Money Supply Rule (802)
Equilibrium search and unemployment (1974) (737)
The Lack of A Priori Distinctions Between Learning Algorithms (1996) (728)
Pareto Optima and Competitive Equilibria with Adverse Selection and Moral Hazard (1984) (565)
Sequential location among firms with foresight (1977) (556)
FORTRAN code for the Hodrick-Prescott filter (1982) (484)
Monopoly rights: a barrier to riches (1999) (460)
Economic Growth and Business Cycles (2020) (438)
Prosperity and Depression (2002) (415)
Why do Americans work so much more than Europeans (2004) (372)
The Computational Experiment: an Econometric Tool (1996) (363)
The Equity Premium in Retrospect (2003) (359)
Dynamic optimal taxation, rational expectations and optimal control (1980) (332)
Taxes, regulations, and the value of U.S. and U.K. corporations (2005) (323)
Stochastic Monotonicity and Stationary Distributions for Dynamic Economies (1992) (320)
Estimation in the Presence of Stochastic Parameter Variation (1976) (317)
Great Depressions of the Twentieth Century (2007) (289)
General Competitive Analysis in an Economy with Private Information (1984) (241)
Recursive Competitive Equilibrium: The Case of Homogeneous Households (1980) (226)
Hours and employment variation in business cycle theory (1991) (226)
The Econometrics of the General Equilibrium Approach to Business Cycles (1991) (224)
Unmeasured Investment and the Puzzling U.S. Boom in the 1990s (2007) (214)
Is the Stock Market Overvalued? (2001) (212)
Great depressions of the 20th century (2002) (197)
THE MULTI-PERIOD CONTROL PROBLEM UNDER UNCERTAINTY (1972) (194)
Average Debt and Equity Returns: Puzzling? (2003) (188)
Banking in computable general equilibrium economies (1992) (184)
Efficiency of the Natural Rate (1975) (182)
Openness, Technology Capital, and Development (2007) (176)
The Depressing Effect of Agricultural Institutions on the Prewar Japanese Economy (2006) (175)
A unified theory of the evolution of international income levels (2004) (170)
Technology Capital and the U.S. Current Account (2008) (149)
The workweek of capital and its cyclical implications (1986) (149)
An Adaptive Regression Model (1973) (146)
Changes in the wealth of nations (1993) (145)
Contractual Arrangements for Intertemporal Trade (1987) (144)
A Competitive Theory of Fluctuations and the Feasibility and Desirability of Stabilization Policy (1980) (139)
Capacity constraints, asymmetries, and the business cycle (2005) (133)
Should control theory be used for economic stabilization (1977) (133)
Nobel Lecture: The Transformation of Macroeconomic Policy and Research (2006) (130)
Time consistency and policy (1988) (128)
Data Appendix to The 1990s in Japan: A Lost Decade (2002) (127)
Quid Pro Quo: Technology Capital Transfers for Market Access in China (2013) (116)
Lifetime aggregate labor supply with endogenous workweek length (2007) (110)
Collusion in Oligopoly: An Experiment on the Effect of Numbers and Information (1968) (106)
Valuation Equilibrium with Clubs (1997) (99)
Computation of Equilibria in Heterogeneous Agent Models (1997) (97)
Technology Capital and the US Current Account By (2012) (97)
Some Skeptical Observations on Real Business Cycle Theory (2012) (94)
Did Technology Shocks Cause the 1990-1991 Recession? (1993) (93)
New approaches to monetary economics: A multiple means-of-payment model (1987) (91)
Web interface for "Time to Build and Aggregate Fluctuations" (1982) (87)
Dynamic Coalitions: Engines of Growth (1987) (80)
Theory ahead of business cycle measurement (1986) (79)
The Equity Risk Premium: A Solution? (1988) (78)
Equilibrium business cycles with idle resources and variable capacity utilization (1995) (76)
Data Appendix to Great Depressions of the Twentieth Century (2002) (73)
A Reassessment of Real Business Cycle Theory (2014) (71)
Stationary solution to the overlapping generations model of fiat money: Experimental evidence (1994) (70)
Technology Adoption and Growth (1991) (70)
On Financing Retirement with an Aging Population (2013) (70)
The Firm and the Plant in General Equilibrium (1989) (70)
A Note on Price Systems in Infinite Dimensional Space (1972) (68)
The Uncertain Unit Root in Real GNP (2007) (67)
Multiple Regression with Inequality Constraints: Pretesting Bias, Hypothesis Testing and Efficiency (1970) (66)
Tests of an Adaptive Regression Model (1973) (65)
Tarnishing the Golden and Empire States: Land-Use Restrictions and the U.S. Economic Slowdown (2017) (64)
Some observations on the Great Depression (1999) (62)
The 1929 Stock Market: Irving Fisher Was Right (2004) (59)
Lotteries, Sunspots, and Incentive Constraints (2002) (57)
Recursive Methods for Computing Equilibria of Business Cycle Models (2020) (56)
Dynamic coalitions, growth, and the firm (1986) (56)
Response to a Skeptic (1986) (55)
Chapter 14 The equity premium in retrospect (2003) (52)
Lawrence R. Klein Lecture 1997: Needed: A Theory of Total Factor Productivity (2007) (51)
The Equity Premium: ABCs (2008) (51)
The Transformation of Macroeconomic Policy and Research (2006) (50)
Organizations in economic analysis (1988) (47)
Is the stock market overvalued (2000) (46)
Evaluating the welfare effects of alternative monetary arrangements (1991) (45)
Organization Capital (1980) (42)
Introduction to the symposium: The discipline of applied general equilibrium (1995) (41)
The Labor Productivity Puzzle (2012) (41)
Cyclical movements of the labor input and its implicit real wage (1993) (41)
Systematic (Non-Random) Variation Models: Varying Parameter Regression: A Theory And Some Applications (1973) (40)
Costly Financial Intermediation in Neoclassical Growth Theory (2008) (40)
Seigniorage As a Tax : A Quantitative Evaluation (1991) (39)
Valuation equilibria with clubs (1996) (38)
"Can the cycle be reconciled with a consistent theory of expectations?" - or a progress report on business cycle theory (1983) (35)
Dynamic Optimal Taxation (1979) (35)
Unmeasured investment and the puzzling U.S. boom in the 1990s (technical appendix) (2007) (33)
Classical Competitive Analysis of Economies with Islands (1992) (32)
Robert M. Solow's Neoclassical Growth Model: An Influential Contribution to Economics (1988) (30)
Time to Build and Aggregate Fluctuations Author ( s ) : (2007) (30)
ADVERSE SELECTION AND MORAL HAZARD (1984) (28)
Business cycle research: methods and problems (1998) (27)
Productivity and the Post-1990 U.S. Economy (2005) (27)
Prosperity and Depression: 2002 Richard T. Ely Lecture (2002) (26)
Insurance Contracts as Commodities: A Note (1991) (26)
ADAPTIVE DECISION RULES FOR MACROECONOMIC PLANNING (1971) (23)
Introduction to Sunspots and Lotteries (2002) (21)
US hours at work (2018) (21)
Intermediated Quantities and Returns (2009) (21)
Measures of the Insurance Sector Output (1991) (20)
On defining real consumption (1997) (20)
Market structure and monopoly profits: A dynamic theory (1973) (19)
Aggregate labor supply (2012) (18)
Expensed and sweat equity (2005) (18)
Using the general equilibrium growth model to study great depressions: a reply to Temin (2008) (18)
Time to Build and the Persistence of Unemployment (1980) (17)
Real Business Cycle Theory: What Have We Learned? (1991) (17)
Real returns on government debt: A general equilibrium quantitative exploration (1997) (16)
Costly financial intermediation in neoclassical growth theory: Intermediation in neoclassical growth theory (2011) (15)
The Stock Market Crash of 1929: Irving Fisher Was Right! (2001) (15)
On the needed quantity of government debt (2007) (15)
Testing for Stock Market Overvaluation/Undervaluation (2003) (15)
Non-convexities in quantitative general equilibrium studies of business cycles (2003) (15)
The Desirability of Cheating Incentives and Randomnness in the Optimal Income Tax (1984) (15)
Money, Multiplier Accelerator Interaction, and the Business Cycle (1968) (15)
On Equilibrium for Overlapping Generations Organizations (2005) (13)
Comments on ' Inflation, Output, and Welfare' by Ricardo Lagos and Guillaume Rocheteau (2005) (13)
Introduction to dynamic general equilibrium (2009) (13)
On the Equilibrium Concept for Overlapping Generations Organizations (2000) (12)
A test of the intertemporal asset pricing model (1982) (11)
Invariant Distributions for Monotone Markov Processes (1987) (11)
Liquidity constraints in economies with aggregate fluctuations: a quantitative exploration (1992) (10)
How Important Is Human Capital for Development? Evidence from Immigrant Earnings (2004) (9)
Finn Kydland and Edward Prescott ’ s Contribution to Dynamic Macroeconomics : The Time Consistency of Economic Policy and the Driving Forces Behind Business Cycles (2004) (9)
What a Country Must Do to Catch-Up to the Industrial Leaders (2004) (9)
Should control theory be used for economic stabilization?: A rejoinder (1977) (8)
The Swiss disease : Facts and artefacts (2003) (7)
Technical appendix: on financing retirement with an aging population (2012) (7)
RBC Methodology and the Development of Aggregate Economic Theory (2016) (7)
Monetary Policy with 100 Percent Reserve Banking: An Exploration (2016) (7)
Do Taxes Explain European Employment? Indivisible Labor, Human Capital, Lotteries, and Savings [with Comments and Discussion] (2006) (7)
Interest on reserves, policy rules and quantitative easing (2014) (6)
An aggregate model for policy analysis with demographic change (2017) (6)
Inflation targeting in a St. Louis model of the 21st century - commentary (1996) (5)
Equilibrium with mutual organizations in adverse selection economies (2016) (5)
29 – Equilibrium Search and Unemployment (1978) (5)
OPTIMAL STABILIZATION POLICY: A NEW FORMULATION. (1974) (4)
Technology capital transfer (2011) (4)
Classical competitive analysis in a growth economy with search (1987) (4)
Comments on the current state of the theory of aggregate investment behavior (1980) (4)
Technology capital and the U.S. current account (appendices) (2009) (3)
The Costs of Quid Pro Quo (2015) (3)
Dynamic Optimal Taxation, Rational Expectations And Control Theory (1979) (3)
[The New Keynesian Microfoundations]: Comment (1987) (3)
Effects of alternative monetary stabilization policies: an unexpected finding (1993) (2)
Preface: Special Issue on Dynamic Games in Macroeconomics (2016) (2)
EconomicDynamics Interviews Timothy Kehoe and Edward Prescott on Great Depressions (2007) (2)
Executable program for "Time to Build and Aggregate Fluctuations" (1982) (2)
Papers in Honor of Herbert A. Simon: An Introduction (1978) (2)
Expensed and Sweat Equity and the Macroeconomy y (2005) (2)
Editorial to the special issue in honor of Bernard Cornet (2016) (2)
A unified theory of the evolution of income levels (2004) (1)
Findings of the nobel laureate economist expert panel (2009) (1)
Effects of monetary policies: an unexpected finding (1993) (1)
Money in the Production Function (2018) (1)
Openness, Technology Capital, and Development : Additional Files (2008) (1)
Appendices: Technology Capital and the U.S. Current Account (2008) (1)
Interview with the 2004 Laureates in Economics, Finn E. Kydland and Edward C. Prescott (2004) (1)
[Building Blocks of Market Clearing Business Cycle Models]: Comment (1989) (1)
Northern America’s Production of Technology Capital Is Transforming the World Economy (2016) (1)
Shocks Cause the 1990-91 Recession ? (1)
Special issue in honor of Nicholas C. Yannelis (2021) (1)
Average Debt and Equity Returns: Puzzling? Additional Files (2003) (1)
Econometrica: Time To Build And Aggregate Fluctuations (1998) (1)
Technology adoption and growth \ Stephen L. Parente, Edward C. Prescott. (1991) (0)
James Tobin, Franco Modigliani, Finn E. Kydland and Edward C. Prescott (2010) (0)
Not all Marxism is dogmatism (2020) (0)
457 June 2011 Aggregate Labor Supply (2011) (0)
A Reassessment of Real Business Cycle Theory: Additional Files (2014) (0)
Federal Reserve Bank of Minneapolis Research Department Staff Report 309 Usc Fbe Macroeconomics and International Finance Workshop Presented (2003) (0)
Providing Incentives for Mortgage Originators (2009) (0)
Northern America’s Production of Technology Capital Is Transforming the World Economy (2016) (0)
Inside inflammatory bowel disease. (1975) (0)
Special Issue in honor of Nicholas C. Yannelis – Part II (2022) (0)
Introduction of the special issue: Economic theory in honor of Charalambos D. Aliprantis (2008) (0)
Federal Reserve Bank of Minneapolis Research Department Technology Capital Transfer (2011) (0)
[Call for papers : conference on productivity and the Industrial Revolution]. (1998) (0)
OF-THE THEORY OF AGGREGATE INVESTMENT BEHAWOR (2002) (0)
You have printed the following article : Habit Formation : A Resolution of the Equity Premium Puzzle (2008) (0)
Preliminary Version Malthus to Solow (2008) (0)
EC ONOME T R I C A VOLUME 39 September , 1971 NUMBER 5 INVESTMENT UNDER UNCERTAINTY (2007) (0)
In Memoriam: Bruce D. Smith (1954–2002) (2003) (0)
Preface: Special Issue on Dynamic Games in Macroeconomics (2016) (0)
The Stock Market from a Macroeconomist's Perspective (2001) (0)
American Economic Association Monetary Policy as a Process of Search Author ( s ) : (2007) (0)
2 A Simple Insurance Problem : A Motivating Example (2008) (0)
Back Matter (1995) (0)
Father of financial intermediary-coalitions (1984) (0)
Preliminary and Incomplete Not for Quotation the Depressing Effect of Agriculture Institutions on the Prewar Japanese Economy (2004) (0)
Distinguished Lecture Commemorating the 60(superscript th) Anniversary of the Founding of Tamkang University: Asia Booming, US Depressed, and Europe Stagnating (2011) (0)
Editorial to the special issue in honor of Bernard Cornet (2016) (0)
American Economic Association Monopoly Rights : A Barrier to Riches (2007) (0)
Computable General Equilibrium Models and Monetary Policy Advice: Comment (1995) (0)
Notes on human capital, growth, and unemployment (1985) (0)
An Exploration of Technology Diffusion (2010) (0)
Finance and development : a factual study, some early findings (1994) (0)
Fiat Value in the Theory of Value (2017) (0)
Research Department Costly Financial Intermediation in Neoclassical Growth Theory (2011) (0)
Summer Meetings of the Econometric Society in Montreal, and the NBER Conference-Seminar on the Theory of General Equilibrium at Berkeley. (0)
The timing of raises and other payments: A comment (1990) (0)
On existence and uniqueness of stationary distributions without continuity (1986) (0)
Equilibrium with mutual organizations in adverse selection economies (2015) (0)
The Computational Experiment: an Econometric Tool Introduction (2005) (0)
QR Aggregate Labor Supply (2012) (0)
The Depressed U.S. Economy and its Consequences for the Polish Economy (2010) (0)
Monetary Policy with 100% Reserve Banking: An Exploration (2015) (0)
program in Economic Fluctuations. Any opinions expressed are those of the (1986) (0)
Commentary the Abstraction (1997) (0)
On efficiently financing retirement (2011) (0)
14.128 Dynamic Optimization and Economic Applications (2003) (0)
Predictions of the Price of Capital (2004) (0)

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