Edward C. Prescott(爱德华·普雷斯科特)Professor

Professor Prescott’s research revolutionized macroeconomics by developing new methods for studying business cycle fluctuations. These methods are applicable to all areas of aggregate economics. His other prize-winning work found that the best policy plan is time inconsistency and therefore will not be followed if policymakers have discretions, and that following a policy rule mitigates the time inconsistency problem. His most recent work is titled “On Financing Retirement with an Aging Population” and examines the problem facing many countries including the United States: how to finance retirement consumption as the population ages. His research has been published in Journal of Political Economy, International Economic Review, and the Journal of Monetary Economics, among other leading publications.