Finn Kydland and Edward Prescott's Contribution to the Theory of Macroeconomic Policy
Year: 2005
Type: article
Abstract: Finn Kydland and Ed Prescott have transformed the field of macroeconomics with two path-breaking contributions. One is the idea of time inconsistency of optimal policy rules. The second is their analysis of business fluctuations. Both contributions have profoundly changed the way we think about macro-
Author: Guido Tabellini
Institution: Bocconi University
Language: English
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2003972069