Staff Details

Photo of Edward C. Prescott

Edward C. Prescott

Senior Monetary Advisor

Email: prescott@minneapolisfed.org

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Edward C. Prescott has been affiliated with the Bank since 1981 and currently serves as a senior monetary advisor. He also holds the W. P. Carey Chair at Arizona State University and is a Regents Professor. Prior to joining the ASU faculty in 2003, he held faculty positions at the University of Minnesota, the University of Chicago, Carnegie Mellon University, and the University of Pennsylvania.

In 2004 Ed was awarded the Nobel Prize in Economics, jointly with Finn Kydland, "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles." Prior to receiving this honor, he was awarded the 2002 Erwin Plein Nemmers Prize in Economics, was elected a Fellow of the American Academy of Arts and Sciences in 1992, a member of the National Academy of Science in 2008, a Fellow of the Econometrica Society in 1980, and was selected to be a Guggenheim Fellow for 1974–75. Students at Rochester chose him to deliver the inaugural Lionel McKenzie Lecture in 1990, and in 1997 students at the University of Pennsylvania selected him to deliver the inaugural Lawrence R. Klein Lecture. He was also selected to deliver the 2002 American Economic Association Richard T. Ely Lecture.

Go to Edward's comprehensive research profile.

Recent Minneapolis Fed Work

Money in the Production Function
April 2018 - Staff Report

Fiat Value in the Theory of Value
June 2017 - Staff Report

An Aggregate Model for Policy Analysis with Demographic Change
December 2016 - Staff Report

Technical Appendix: On Financing Retirement with an Aging Population
February 2016 - Staff Report
Published In: Quantitative Economics (Vol. 8, No. 1, March 2017, pp. 75-115)

On Financing Retirement with an Aging Population
February 2016 - Staff Report
Published In: Quantitative Economics (Vol. 8, No. 1, March 2017, pp. 75-115)

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Federal Reserve Bank of Minneapolis
90 Hennepin Avenue
Minneapolis, MN 55401