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photo of Edward C. Prescott

Edward C. Prescott Senior Monetary Advisor (former)

Edward C. Prescott became affiliated with the Bank beginning in 1981 and served as a senior monetary advisor. He also held the W. P. Carey Chair at Arizona State University and was 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.

  • Staff Report 562 (March 2018)
    Edward C. Prescott and Ryan Wessel
    This paper is related to but fundamentally different from Staff Report 530: "Fiat Value in the Theory of Value.”
  • Staff Report 534 (December 2016)
    Ellen R. McGrattan and Edward C. Prescott
    Published in: _The Journal of the Economics of Ageing_ (Vol. 11, May 2018, pp. 52-61), https://doi.org/10.1016/j.jeoa.2017.01.001.
    [Additional Files](http://users.cla.umn.edu/~erm/data/sr534/) [Staff Report 472: On Financing Retirement with an Aging Population](http://researchdatabase.minneapolisfed.org/concern/publications/4t64gn298?locale=en)
  • Staff Report 530 (March 2016)
    Edward C. Prescott and Ryan Wessel
  • Staff Report 472 (February 2016)
    Edward C. Prescott and Ellen R. McGrattan
    Published in: _Quantitative Economics_ (Vol. 8, No. 1, March 2017, pp. 75-115) https://doi.org/10.3982/QE648. See related papers: [Staff Report 473: _Technical Appendix: On Financing Retirement with an Aging Population_](https://doi.org/10.21034/sr.473) [Staff Report 534: _An Aggregate Model for Policy Analysis with Demographic Change_] (https://doi.org/10.21034/sr.534) [Additional Files](https://researchdatabase.minneapolisfed.org/downloads/8910jt605?locale=en) [M-files and Ftools](https://researchdatabase.minneapolisfed.org/downloads/4x51hj04n?locale=en)
  • Staff Report 473 (February 2016)
    Edward C. Prescott and Ellen R. McGrattan
    Published in: _Quantitative Economics_ (Vol. 8, No. 1, March 2017, pp. 75-115) https://doi.org/10.3982/QE648. [Staff Report 742: On Financing Retirement with an Aging Population](https://doi.org/10.21034/sr.472) [Additional Files](https://researchdatabase.minneapolisfed.org/downloads/8910jt605?locale=en) [M-files and Ftools](https://researchdatabase.minneapolisfed.org/downloads/4x51hj04n?locale=en)
  • Staff Report 527 (February 2016)
    Edward C. Prescott
    Published in: _Handbook of Macroeconomics_ (Volume 2, Chapter 22, 2016, pp. 1759-1787) https://doi.org/10.1016/bs.hesmac.2016.03.001.
  • Working Paper 717 (September 2015)
    Adam Blandin, John H. Boyd, and Edward C. Prescott
    Published in: _Economic Theory_ (Vol. 62, No. 1, June 2016, pp. 3-13), https://doi.org/10.1007/s00199-015-0918-3.
  • Staff Report 486 (February 2015)
    Thomas J. Holmes, Ellen R. McGrattan, and Edward C. Prescott
    Published in: _Review of Economic Studies_ (2015, pp. 1-40) https://doi.org/10.1093/restud/rdv008. See related papers: [Staff Report 396: _Openness, Technology Capital, and Development_](https://doi.org/10.21034/sr.396) [Staff Report 406: _Technology Capital and the U.S. Current Account_](https://doi.org/10.21034/sr.406) [Staff Report 487: _Technical Appendix for Quid Pro Quo: Technology Capital Transfers for Market Access in China_](https://doi.org/10.21034/sr.487) [Staff Report 488: _Patent Data Appendix for Quid Pro Quo: Technology Capital Transfers for Market Access in China_](https://doi.org/10.21034/sr.488) [Additional Files](https://researchdatabase.minneapolisfed.org/downloads/0k225b05z?locale=en) [M-files and Ftools](https://researchdatabase.minneapolisfed.org/downloads/4x51hj04n?locale=en)
  • Staff Report 487 (August 2014)
    Edward C. Prescott, Ellen R. McGrattan, and Thomas J. Holmes
    Published in: _Review of Economic Studies_ (2015, pp. 1-40) https://doi.org/10.1093/restud/rdv008. See related papers: [Staff Report 486: _Quid Pro Quo: Technology Capital Transfers for Market Access in China_](https://doi.org/10.21034/sr.486) [Staff Report 488: _Patent Data Appendix for Quid Pro Quo: Technology Capital Transfers for Market Access in China_](https://doi.org/10.21034/sr.488) [Additional Files](https://researchdatabase.minneapolisfed.org/downloads/0k225b05z?locale=en) [M-files and Ftools](https://researchdatabase.minneapolisfed.org/downloads/4x51hj04n?locale=en)
  • Staff Report 494 (March 2014)
    Edward C. Prescott and Ellen R. McGrattan
    Published in: _American Economic Review Papers and Proceedings_ (Vol. 104, No. 5, May 2014, pp. 177-182) https://doi.org/10.1257/aer.104.5.177. [Additional Files](https://researchdatabase.minneapolisfed.org/downloads/z316q164g?locale=en) [M-files and Ftools](https://researchdatabase.minneapolisfed.org/downloads/4x51hj04n?locale=en)
  • Staff Report 488 (July 2013)
    Edward C. Prescott, Ellen R. McGrattan, and Thomas J. Holmes
    Published in: _Review of Economic Studies_ (2015, pp. 1-40) https://doi.org/10.1093/restud/rdv008. See related papers: [Staff Report 486: _Quid Pro Quo: Technology Capital Transfers for Market Access in China_](https://doi.org/10.21034/sr.486) [Staff Report 487: _Technology Appendix for Quid Pro Quo: Technology Capital Transfers for Market Access in China_](https://doi.org/10.21034/sr.487)
  • Quarterly Review 3521 | October 2012 (Vol. 35 No. 2)
    Edward C. Prescott and Johanna Wallenius
  • Working Paper 694 (May 2012)
    Edward C. Prescott and Ellen R. McGrattan
    [Additional files](https://researchdatabase.minneapolisfed.org/downloads/1831cj94h "Additional files")
    Published in: _Government Policies and the Delayed Economic Recovery, Lee Ohanian, John B. Taylor, Ian J. Wright, eds.,_ (Hoover Institution Press, 2012, pp. 115-154).
    [M-files and Ftools](https://researchdatabase.minneapolisfed.org/downloads/4x51hj04n "M-files and Ftools")
  • Working Paper 692 (November 2011)
    Edward C. Prescott and Ellen R. McGrattan
  • Working Paper 687 (November 2011)
    Edward C. Prescott, Ellen R. McGrattan, and Thomas J. Holmes
  • Working Paper 685 (April 2011)
    Edward C. Prescott, Rajnish Mehra, and Facundo Piguillem
    This paper was previously published as [Working Paper 655](https://doi.org/10.21034/wp.655 "Working Paper 655") and [Staff Report 405](https://doi.org/10.21034/sr.405 "Staff Report 405") under the title "Intermediated Quantities and Returns."
    Published in: _Quantitative Economics_ (Vol. 2, No. 1, March 2011, pp. 1-36), https://doi.org/10.3982/QE40.
  • Staff Report 457 (January 2011)
    Edward C. Prescott and Johanna Wallenius
  • Staff Report 369 (September 2010)
    Edward C. Prescott and Ellen R. McGrattan
    Published in: _American Economic Journal: Macroeconomics_ (Vol. 2, No. 4, October 2010, pp. 88-123) https://doi.org/10.1257/mac.2.4.88. [Staff Report 395: Technical Appendix: Unmeasured Investment and the Puzzling U.S. Boom in the 1990s](https://researchdatabase.minneapolisfed.org/concern/publications/fn106x969?locale=en) [Additional Files]([https://researchdatabase.minneapolisfed.org/downloads/2f75r807r?locale=en) [M-files and Ftools](https://researchdatabase.minneapolisfed.org/downloads/4x51hj04n?locale=en)
  • Staff Report 435 (September 2009)
    Ellen R. McGrattan and Edward C. Prescott
    [Staff Report 369: Unmeasured Investment and the Puzzling U.S. Boom in the 1990s](https://researchdatabase.minneapolisfed.org/concern/publications/kh04dp81k?locale=en)
  • Staff Report 395 (September 2009)
    Edward C. Prescott and Ellen R. McGrattan
    [Staff Report 369: Unmeasured Investment and the Puzzling U.S. Boom in the 1990s](https://researchdatabase.minneapolisfed.org/concern/publications/kh04dp81k?locale=en) [Additional Files](https://researchdatabase.minneapolisfed.org/downloads/2f75r807r?locale=en) [M-files and Ftools](https://researchdatabase.minneapolisfed.org/downloads/4x51hj04n?locale=en)
  • Staff Report 406 (March 2009)
    Edward C. Prescott and Ellen R. McGrattan
    Published in: _American Economic Review_ (Vol. 100, No. 4, September 2010, pp. 1493-1522) https://doi.org/10.1257/aer.100.4.1493. [Staff Report 407: Appendices: Technology Capital and the U.S. Current Account](http://researchdatabase.minneapolisfed.org/concern/publications/5d86p0313?locale=en) [Additional Files](https://researchdatabase.minneapolisfed.org/downloads/cz30ps68g?locale=en) [M-files and Ftools](https://researchdatabase.minneapolisfed.org/downloads/4x51hj04n?locale=en)
  • Staff Report 407 (March 2009)
    Edward C. Prescott and Ellen R. McGrattan
    [Staff Report 406: Technology Capital and the U.S. Current Account] (http://researchdatabase.minneapolisfed.org/concern/publications/7w62f829s?locale=en) [Additional Files](https://researchdatabase.minneapolisfed.org/downloads/cz30ps68g?locale=en) [M-files and Ftools](https://researchdatabase.minneapolisfed.org/downloads/4x51hj04n?locale=en)
  • Staff Report 418 (December 2008)
    Edward C. Prescott and Timothy J. Kehoe
  • Staff Report 405 (September 2008)
    Edward C. Prescott, Rajnish Mehra, and Facundo Piguillem
    [Additional Files and Appendix](https://researchdatabase.minneapolisfed.org/downloads/v118rd568?locale=en)
  • Staff Report 396 (July 2008)
    Edward C. Prescott and Ellen R. McGrattan
    Published in: _Journal of Economic Theory_ (Vol. 144, No. 6, November 2009, pp. 2454-2476) https://doi.org/10.1016/j.jet.2008.05.012. [Additional Files](https://researchdatabase.minneapolisfed.org/downloads/ft848q669?locale=en) [M-files and Ftools](https://researchdatabase.minneapolisfed.org/downloads/4x51hj04n?locale=en) An earlier version of this Staff Report circulated as [Working Paper 651](https://doi.org/10.21034/wp.651).
  • Working Paper 646 (April 2008)
    Edward C. Prescott and Ellen R. McGrattan
    [Additional files](https://researchdatabase.minneapolisfed.org/downloads/cz30ps68g "Additional files")
    [M-files and Ftools](https://researchdatabase.minneapolisfed.org/downloads/4x51hj04n "M-Files and Ftools")
    Published in _American Economic Review_ (Vol. 100, Iss. 4, September 2010, pp. 2-13), https://doi.org/10.1257/aer.100.4.1493.
    An updated version of this paper was published as [Staff Report 406](https://doi.org/10.21034/sr.406) with an accompanying technical appendix, [Staff Report 407](https://doi.org/10.21034/sr.407).
  • Staff Report 400 (November 2007)
    Edward C. Prescott, Richard Rogerson, and Johanna Wallenius
    Published in: _Review of Economic Dynamics_ (Vol. 12, No. 1, January 2009, pp. 23-36) https://doi.org/10.1016/j.red.2008.07.005.
  • Quarterly Review 3111 | November 2007 (Vol. 31 No. 1)
    Edward C. Prescott and Kathryn Birkeland
  • Working Paper 655 (September 2007)
    Edward C. Prescott, Rajnish Mehra, and Facundo Piguillem
    This paper was replaced by [Staff Report 405](https://doi.org/10.21034/sr.405 "Staff Report 405") and subsequently published as [Working Paper 685](https://doi.org/10.21034/wp.685 "Working Paper 685") under the title _Costly Financial Intermediation in Neoclassical Growth Theory_.
    [Additional files and appendix](https://researchdatabase.minneapolisfed.org/downloads/v118rd568 "Additional files and appendix")
    Published in _Quantitative Economics_ (Vol. 2, No. 1, March 2011, pp. 1-36), https://doi.org/10.3982/QE40.
  • Working Paper 651 (April 2007)
    Edward C. Prescott and Ellen R. McGrattan
    [Additional files](https://researchdatabase.minneapolisfed.org/downloads/ft848q669 "Additional files")
    Published in: _Journal of Economic Theory_ (Vol. 144, No. 6, November 2009, pp. 2454-2476), https://doi.org/10.1016/j.jet.2008.05.012.
    An updated version was published as [Staff Report 396](https://doi.org/10.21034/sr.396 "Staff Report 396")
  • Working Paper 648 (December 2006)
    Edward C. Prescott and Kathryn Birkeland
    Published in _Quarterly Review_ (Vol. 31, November 2007, pp. 2-15), https://doi.org/10.21034/qr.3111.
    [Additional data files](https://researchdatabase.minneapolisfed.org/downloads/5t34sj61p "Additional data files")
  • Working Paper 636 (September 2005)
    Edward C. Prescott and Ellen R. McGrattan
  • Staff Report 350 (May 2005)
    Edward C. Prescott and Ellen R. McGrattan
    Published in: _Federal Reserve Bank of St. Louis Review_ (Vol. 87, No. 4, July/August 2005, pp. 537-549), https://doi.org/10.20955/r.87.537-550. [Additional Files](https://researchdatabase.minneapolisfed.org/downloads/f4752g79j?locale=en) [M-files and Ftools](https://researchdatabase.minneapolisfed.org/downloads/4x51hj04n?locale=en)
  • Staff Report 309 (May 2005)
    Edward C. Prescott and Ellen R. McGrattan
    [M-files and Ftools](https://researchdatabase.minneapolisfed.org/concern/datasets/765371353).
    See related papers: * [Staff Report 294: _The 1929 Stock Market: Irving Fisher Was Right_](https://doi.org/10.21034/sr.294) * [Staff Report 313: _Average Debt and Equity Returns: Puzzling?_](https://doi.org/10.21034/sr.313) * Quarterly Review articles (Vol. 24, No. 4, Fall 2000) [_The Declining U.S. Equity Premium_](https://doi.org/10.21034/qr.2441) and [_Is the Stock Market Overvalued?_](https://doi.org/10.21034/qr.2442).
    Published in: _Review of Economic Studies_ (Vol. 72, No. 3, July 2005, pp. 767-796), https://doi.org/10.1111/j.1467-937X.2005.00351.x.
    [Additional files and data appendix](https://researchdatabase.minneapolisfed.org/concern/datasets/b2773v71t).
  • Quarterly Review 2811 | July 2004 (Vol. 28 No. 1)
    Edward C. Prescott
    [Data file](https://researchdatabase.minneapolisfed.org/downloads/mg74qm163)
  • Staff Report 309 (June 2004)
    Edward C. Prescott and Ellen R. McGrattan
  • Staff Report 333 (March 2004)
    Edward C. Prescott and Stephen L. Parente
    Published in: _Handbook of Economic Growth_ (Vol. 1, Part B, 2005, pp. 1371-1416) https://doi.org/10.1016/S1574-0684(05)01021-X.
  • Staff Report 294 (December 2003)
    Edward C. Prescott and Ellen R. McGrattan
    Published in: _International Economic Review_ (Vol. 45, No. 4, November 2004, pp. 991-1009) https://doi.org/10.1111/j.0020-6598.2004.00295.x. See related papers: [Staff Report 309: _Taxes, Regulations, and the Value of U.S. and U.K. Corporations_](https://doi.org/10.21034/sr.294) [Staff Report 313: _Average Debt and Equity Returns: Puzzling?_](https://doi.org/10.21034/sr.313) Quarterly Review articles (Vol. 24, No. 4, Fall 2000) [_The Declining U.S. Equity Premium_](https://doi.org/10.21034/qr.2441) and [_Is the Stock Market Overvalued?_](https://doi.org/10.21034/qr.2441) [Additional Files](https://researchdatabase.minneapolisfed.org/downloads/xw42n792v?locale=en) [M-files and Ftools](https://researchdatabase.minneapolisfed.org/downloads/4x51hj04n?locale=en)
  • Staff Report 312 (November 2003)
    Edward C. Prescott
    Published in: _Frontiers in Applied General Equilibrium Modeling: In Honor of Herbert Scarf_ (2005, pp. 95-118) https://doi.org/10.1017/CBO9780511614330.006.
  • Staff Report 321 (November 2003)
    Edward C. Prescott
    Published in: _Quarterly Review_ (Vol. 28, No. 1, July 2004, pp. 2-13) https://doi.org/10.21034/qr.2811. [Additional Files](https://researchdatabase.minneapolisfed.org/concern/publications/g158bh45b?locale=en)
  • Staff Report 313 (January 2003)
    Edward C. Prescott and Ellen R. McGrattan
    Published in: _AER, Papers and Proceedings_ (Vol. 93, No. 2, May 2003, pp. 392-397) https://doi.org/10.1257/000282803321947407. See related papers: [Staff Report 294: _The 1929 Stock Market: Irving Fisher Was Right_](https://doi.org/10.21034/sr.294) [Staff Report 309: _Taxes,Regulations, and the Value of U.S.and U.K. Corporations_] (https://doi.org/10.21034/sr.309) Quarterly Review articles (Vol. 24, No. 4, Fall 2000) [_The Declining U.S. Equity Premium_](https://doi.org/10.21034/qr.2441) and [_Is the Stock Market Overvalued?_](https://doi.org/10.21034/qr.2441) [Additional Files](https://researchdatabase.minneapolisfed.org/downloads/3484zg94r?locale=en) [M-files and Ftools](https://researchdatabase.minneapolisfed.org/downloads/4x51hj04n?locale=en)
  • Working Paper 618 (January 2002)
    Edward C. Prescott
    Published in _American Economic Review_ (Vol. 92, No. 2, May 2002, pp. 1-15), https://doi.org/10.1257/000282802320188916.
  • Working Paper 610 (July 2001)
    Edward C. Prescott and Ellen R. McGrattan
  • Staff Report 282 (November 2000)
    Edward C. Prescott and José-Víctor Ríos-Rull
    Published in: _International Economic Review_ (Vol. 46, No. 4, November 2005, pp. 1065-1080) https://doi.org/10.1111/j.1468-2354.2005.00360.x.
    Previously Working Paper 602, which is not available online.
  • Quarterly Review 2442 | Fall 2000 (Vol. 24 No. 4)
    Edward C. Prescott and Ellen R. McGrattan
    [Additional materials](https://researchdatabase.minneapolisfed.org/downloads/8910jt59d) and [M-files and Ftools](https://researchdatabase.minneapolisfed.org/downloads/4x51hj04n)
  • Working Paper 607 (November 2000)
    Edward C. Prescott and Fumio Hayashi
    Published in _Review of Economic Dynamics_ (Vol. 5, No. 1, January 2002, pp. 206-235), https://doi.org/10.1006/redy.2001.0149.
    Published in "The Economics of an Ageing Population: Macroeconomic Issues," _ESRI Studies Series on Ageing_, Onofri, Paolo, ed., Edward Elgar Publishing, (2004, Chapter 2, pp. 35-74).
  • Working Paper 602 (August 2000)
    Edward C. Prescott and José-Víctor Ríos-Rull
  • Quarterly Review 2312 | Winter 1999 (Vol. 23 No. 1)
    Edward C. Prescott
  • Staff Report 257 (January 1999)
    Edward C. Prescott and Gary D. Hansen
    Published in: _American Economic Review_ (Vol. 92, No. 4, September 2002, pp. 1205-1217) https://doi.org/10.1257/00028280260344731.
  • Working Paper 590 (October 1998)
    Edward C. Prescott
    Published in _Cycles, Growth, and Structural Change: Theories and Empirical Evidence,_ 2001, L.P. Punzo, ed., Chapter 12: 283-300.
  • Staff Report 242 (December 1997)
    Edward C. Prescott
    Published in: _International Economic Review_ (Vol. 39, No. 3, August 1998, pp. 525-551) https://doi.org/10.2307/2527389.
  • Staff Report 236 (July 1997)
    Edward C. Prescott and Stephen L. Parente
    Published in: _American Economic Review_ (Vol. 89, No. 5, December 1999, pp. 1216-33) https://doi.org/10.1257/aer.89.5.1216.
  • Staff Report 174 (March 1996)
    Edward C. Prescott and Harold L. Cole
    Published in: _Journal of Economic Theory_ (Vol. 74, No. 1, May 1997, pp. 19-39) https://doi.org/10.1006/jeth.1996.2247.
  • Working Paper 535 (September 1994)
    Gary D. Hansen, Edward C. Prescott, and Thomas F. Cooley
    Published in _Economic Theory_ (Vol. 6, Iss. 1, February 1995, pp. 35-49), https://doi.org/10.1007/BF01213940.
  • Staff Report 178 (August 1994)
    Edward C. Prescott and Finn E. Kydland
    Published in: _Journal of Economic Perspectives_ (Vol 10, Num 1, Winter 1996, pp. 69-85) https://doi.org/10.1257/jep.10.1.69. Published in: _Real business cycles: A reader_ (1998, pp. 237-253) https://doi.org/10.4324/9780203070710.ch13.
  • Working Paper 524 (March 1994)
    Edward C. Prescott and Harold L. Cole
  • Quarterly Review 1721 | Spring 1993 (Vol. 17 No. 2)
    Edward C. Prescott and Stephen L. Parente
  • Working Paper 507 (January 1993)
    Gary D. Hansen and Edward C. Prescott
  • Discussion Paper 36 (Revised April 1992)
    Edward C. Prescott and Gary D. Hansen
    Published In: Frontiers of business cycle research (1995, pp. 39-64)
    Published In: Equilibrium growth theories (1991, pp. 124-138)
  • Staff Report 153 (March 1992)
    Edward C. Prescott, Fernando Alvarez, Javier Díaz-Giménez, and Terry J. Fitzgerald
    Published in: _Journal of Economic Dynamics and Control_ (Num 16, 1992, pp. 533-559) https://doi.org/10.1016/0165-1889(92)90048-J. Related paper: Staff Report 155: [Banking in Computable General Equilibrium Economies: Technical Appendices I and II](https://researchdatabase.minneapolisfed.org/concern/publications/bz60cw39c?locale=en)
  • Staff Report 149 (January 1992)
    Edward C. Prescott and Javier Díaz-Giménez
  • Quarterly Review 1531 | Summer 1991 (Vol. 15 No. 3)
    Edward C. Prescott and Ayşe İmrohoroğlu
    This is an edited version of a paper that was prepared for a November 1990 conference sponsored by the Federal Reserve Bank of Cleveland and published in a special issue of the _Journal of Money, Credit, and Banking_ (August 1991, part 2, vol. 23, no. 6, pp. 462-475). The paper appears here with the permission of the Federal Reserve Bank of Cleveland. All rights reserved.
  • Staff Report 136 (February 1991)
    Edward C. Prescott and Stephen L. Parente
    Published in: _Journal of Political Economy_ (Vol. 102, No. 2, 1994, pp. 298-321) https://doi.org/10.1086/261933.
  • Staff Report 132 (January 1991)
    Edward C. Prescott and Ayşe İmrohoroğlu
    Published in: _Quarterly Review_ (Vol. 15, No. 3, Summer 1991, pp. 3-10) https://doi.org/10.21034/qr1531. Published in: _Journal of Money, Credit, and Banking_ (Vol. 23, No. 3, August 1991, pp. 462-475) https://doi.org/10.2307/1992681.
  • Staff Report 130 (November 1990)
    Edward C. Prescott and Finn E. Kydland
    Published in: _Scandinavian Journal of Economics_ (Vol 93, Num 2, 1991, pp. 161-178) https://doi.org/10.2307/3440324. Published in: _Real business cycles: A reader_ (1998, pp. 219-236) Published in: _Macroeconometrics: Developments, tensions, and prospects_ (1995, pp. 181-198) https://doi.org/10.1007/978-94-011-0669-6_5. Published in: _New approaches to empirical macroeconomics_ (1991, pp. 33-50)
  • Quarterly Review 1421 | Spring 1990 (Vol. 14 No. 2)
    Edward C. Prescott and Finn E. Kydland
    Published In: _The New Classical Macroeconomics_ (Vol. 3, 1992, pp. 514-529)
    Published In: _Business Cycle Theory_ (1995, pp. 67-82)
    Published In: _The Rational Expectations Revolution: Readings from the Front Line_ (1994, pp. 307-334)
    Published In: _Real Business Cycles: A Reader_ (1998, pp. 383-398)
  • Staff Report 126 (November 1989)
    Edward C. Prescott and Andreas Hornstein
    Published in: _General Equilibrium, Growth, and Trade_ (Vol 2, 1993, pp. 393-410) https://doi.org/10.1016/B978-0-12-084655-9.50020-1.
  • Discussion Paper 17 (August 1989)
    Edward C. Prescott and Finn E. Kydland
    Published In: Economic Theory (Vol. 1, No. 1, January 1991, pp. 63-81) https://doi.org/10.1007/BF01210574
  • Working Paper 329 (January 1989)
    Edward C. Prescott and José-Víctor Ríos-Rull
    Published as "Classical Competitive Analysis of Economies with Islands" in _Journal of Economic Theory_ (Vol. 57, No. 1, June 1992, pp. 73-98), https://doi.org/10.1016/S0022-0531(05)80041-9.
  • Staff Report 115 (August 1988)
    Edward C. Prescott, Patrick J. Kehoe, and V. V. Chari
    Published in: _Modern Business Cycle Theory_ (1989, pp. 265-305)
  • Working Paper 365 (February 1988)
    Edward C. Prescott, V. V. Chari, and Patrick J. Kehoe
  • Working Paper 385 (February 1988)
    Edward C. Prescott, Bruce D. Smith, and John H. Boyd
    Published in: _Canadian Journal of Economics_ (Vol 21, No. 3, August 1988, pp. 477-491), https://doi.org/10.2307/135433.
  • Working Paper 389 (February 1988)
    Rajnish Mehra and Edward C. Prescott
    Published in _Journal of Monetary Economics_ (Vol. 22, Iss. 1, July 1988, pp. 133-136), https://doi.org/10.1016/0304-3932(88)90173-0.
  • Working Paper 374 (September 1987)
    Edward C. Prescott and Hugo Hopenhayn
    Published as "Stochastic Monotonicity and Stationary Distributions for Dynamic Economies" in _Econometrica_ (Vol. 60, No. 6, November 1992, pp. 1387-1406), https://doi.org/10.2307/2951526.
  • Working Paper 267 (August 1987)
    Edward C. Prescott and Finn E. Kydland
    Published in _Journal of Monetary Economics_ (Vol. 21, Iss. 2-3, March-May 1988, pp. 343-360), https://doi.org/10.1016/0304-3932(88)90035-9.
  • Working Paper 331 (June 1987)
    John H. Boyd, Edward C. Prescott, and Bruce D. Smith
  • Working Paper 336 (January 1987)
    Edward C. Prescott
    Also published in New approaches to monetary economics : proceedings of the Second International Symposium in Economic Theory and Econometrics / William A. Barnett, Kenneth J. Singleton.
  • Quarterly Review 1044 | Fall 1986 (Vol. 10 No. 4)
    Edward C. Prescott
    Published In: _Real Business Cycles: A Reader_ (1998, pp. 102-107).
  • Quarterly Review 1042 | Fall 1986 (Vol. 10 No. 4)
    Edward C. Prescott
  • Staff Report 100 (April 1986)
    Edward C. Prescott and John H. Boyd
    Published in: _Minnesota Studies in Macroeconomic Series_ (Vol. 1, 1987, pp. 146-160) Published in: _American Economic Review_ (Vol. 77, No. 2, May 1987, pp. 63-67)
  • Working Paper 299 (March 1986)
    Edward C. Prescott and Hugo Hopenhayn
    Published as "Stochastic Monotonicity and Stationary Distributions for Dynamic Economies" in _Econometrica_ (Vol. 60, No. 6, November 1992, pp. 1387-1406), https://doi.org/10.2307/2951526.
  • Staff Report 102 (February 1986)
    Edward C. Prescott
    Published in: _Quarterly Review_ (Vol. 10, No. 4, Fall 1986, pp. 9-22) https://doi.org/10.21034/qr.1042. Published in: _Real business cycles: A reader_ (1998, pp. 83-96) Published in: _A macroeconomics reader_ (1997, pp. 366-388) Published in: _Time series models, causality and exogeneity_ (1997, pp. 91-104) Published in: _The rational expectations revolution: Readings from the front line_ (1994, pp. 265-287) Published in: _The new classical macroeconomics_ (Vol. 3, 1992, pp. 375-388) Published in: _Carnegie-Rochester Conference Series on Public Policy_ (Vol. 25, Autumn 1986, pp. 11-44) https://doi.org/10.1016/0167-2231(86)90035-7.
  • Working Paper 289 (September 1985)
    Edward C. Prescott, V. V. Chari, and Hugo Hopenhayn
  • Staff Report 87 (July 1985)
    Edward C. Prescott and John H. Boyd
    Published in: _Journal of Economic Theory_ (Vol. 38, No. 2, April 1986, pp. 211-232) https://doi.org/10.1016/0022-0531(86)90115-8. Published in: _Credit, intermediation, and the macroeconomy: Readings and perspectives in modern financial theory_ (2004, pp. 15-35)
  • Working Paper 272 (July 1985)
    John H. Boyd and Edward C. Prescott
    Published as "Financial Intermediary-Coalitions" in _Journal of Economic Theory_ (Vol. 38, Iss. 2, April 1986, pp. 211-232), https://doi.org/10.1016/0022-0531(86)90115-8.
  • Working Paper 271 (December 1984)
    John H. Boyd, Edward C. Prescott, and Bruce D. Smith
  • Working Paper 257 (July 1984)
    John H. Boyd, Edward C. Prescott, and Bruce D. Smith
  • Working Paper 250 (March 1984)
    John H. Boyd and Edward C. Prescott
    Published as "Financial Intermediary-Coalitions" in _Journal of Economic Theory_ (Vol. 38, Iss. 2, April 1986, pp. 211-232), https://doi.org/10.1016/0022-0531(86)90115-8.
  • Working Paper 231 (July 1983)
    John H. Boyd and Edward C. Prescott
    Published as "Financial Intermediary-Coalitions" in _Journal of Economic Theory_ (Vol. 38, Iss. 2, April 1986, pp. 211-232), https://doi.org/10.1016/0022-0531(86)90115-8.
  • Working Paper 239 (June 1983)
    Edward C. Prescott
  • Working Paper 203 (March 1983)
    Edward C. Prescott and Robert Townsend
    Published in _International Economic Review_ (Vol. 25, No. 1, February 1984, pp. 1-20), https://doi.org/10.2307/2648863.
  • Staff Report 81 (November 1982)
    Edward C. Prescott and Rajnish Mehra
    Published in: _Journal of Monetary Economics_ (Vol. 15, 1985, pp. 145-161) https://doi.org/10.1016/0304-3932(85)90061-3.

US Hours at Work
2018 | Economics Letters, 169: 87-90 | With Simona E. Cociuba and Alexander Ueberfeldt

Tarnishing the Golden and Empire States: Land-Use Restrictions and the U.S. Economic Slowdown
2018 | Journal of Monetary Economics, 93: 89-109 | With Kyle F. Herkenhoff and Lee E. Ohanian

On Financing Retirement with an Aging Population
2017 | Quantitative Economics, 8(1): 75-115 | With Ellen R. McGrattan
Previously: Federal Reserve Bank of Minneapolis Staff Report 472

RBC Methodology and the Development of Aggregate Economic Theory
2016 | Handbook of Macroeconomics, eds. John B. Taylor and Harald Uhlig, vol. 2 ch. 22: 1759-1787
Previously: Federal Reserve Bank of Minneapolis Staff Report 527

Equilibrium with Mutual Organizations in Adverse Selection Economies
2016 | Economic Theory, 62(1): 3-13 | With Adam Blandin and John H. Boyd
Previously: Federal Reserve Bank of Minneapolis Working Paper 717

Quid Pro Quo: Technology Capital Transfers for Market Access in China
2015 | Review of Economic Studies, 82(3): 1154-1193 | With Ellen R. McGrattan and Thomas J. Holmes
Previously: Federal Reserve Bank of Minneapolis Staff Report 486
Technical Appendix: Federal Reserve Bank of Minneapolis Staff Report 487
Patent Data Appendix: Federal Reserve Bank of Minneapolis Staff Report 488

Interest on Reserves, Policy Rules and Quantitative Easing
2014 | Journal of Economic Dynamics and Control, 49: 109-111

A Reassessment of Real Business Cycle Theory
2014 | American Economic Review, 104(5): 177-182 | With Ellen R. McGrattan
Previously: Federal Reserve Bank of Minneapolis Staff Report 494
Additional files (zip)
M-files and Ftools (zip)

Aggregate Labor Supply
2012 | Federal Reserve Bank of Minneapolis, Quarterly Review 3521

The Great Recession and Delayed Economic Recovery: A Labor Productivity Puzzle?

2012 | Government Policies and the Delayed Economic Recovery, Lee E. Ohanian, John B. Taylor and Ian J. Wright eds., Chapter 6: 115-154 | With Ellen R. McGrattan

More Time on the Job

2012 | The 4% Solution - Unleashing the Economic Growth America Needs, B. Miniter, ed., Chapter 4: 42-49

"Asia Booming, US Depressed, and Europe Stagnating," Distinguished Lecture Commemorating the 60th Anniversary of the Founding of Tamkang University

2011 | Tamkang Journal of International Affairs, 14(4): 1-26

Costly Financial Intermediation In Neoclassical Growth Theory
2011 | Quantitative Economics, 2(1): 1-36 | With Rajnish Mehra and Facunda Piguillem
Previously: Federal Reserve Bank of Minneapolis Working Paper 685

Unmeasured Investment and the Puzzling US Boom in the 1990s
2010 | American Economic Journal: Macroeconomics, 2(4): 88-123 | With Ellen R. McGrattan
Previously: Federal Reserve Bank of Minneapolis Staff Report 369
Technical Appendix: Federal Reserve Bank of Minneapolis Staff Report 395
Additional files (zip)
M-files and Ftools (zip)

Technology Capital and the US Current Account
2010 | American Economic Review, 100(4): 1493-1522 | With Ellen R. McGrattan
Previously: Federal Reserve Bank of Minneapolis Staff Report 406
Appendices: Federal Reserve Bank of Minneapolis Staff Report 407

Introduction to Dynamic General Equilibrium
2009 | Journal of Economic Theory, 144(6): 2235-2246 | With Lee E. Ohanian and Nancy L. Stokey

Openness, Technology Capital, and Development
2009 | Journal of Economic Theory, 144(6): 2454-2476 | With Ellen R. McGrattan
Previously: Federal Reserve Bank of Minneapolis Staff Report 396
Additional files (zip)
M-files and Ftools (zip)

Lifetime Aggregate Labor Supply with Endogenous Workweek Length
2009 | Review of Economic Dynamics, 12(1): 23-36 | With Richard Rogerson and Johanna Wallenius
Previously: Federal Reserve Bank of Minneapolis Staff Report 400

The Depressing Effect of Agricultural Institutions on the Prewar Japanese Economy
2008 | Journal of Political Economy, 116(4): 573-632 | With Fumio Hayashi

My Development as an Economist: The Joy of Being a Teacher-Researcher

2008 | Lives of the Laureates, William Breit and Barry T. Hirsch eds., 5th Edition, 369-391

The Equity Premium: ABCs
2008 | Handbook of the Equity Risk Premium, Rajnish Mehra, ed., Chapter 1: 1-36 | With Rajnish Mehra

Non-Risk-Based Explanations of the Equity Premium
2008 | Handbook of the Equity Risk Premium, Rajnish Mehra, ed., Chapter 3: 101-115 | With Rajnish Mehra

On the Needed Quantity of Government Debt
2007 | Federal Reserve Bank of Minneapolis, Quarterly Review 3111 | With Kathryn Birkeland

Great Depressions of the Twentieth Century
2007 | With Timothy J. Kehoe | Federal Reserve Bank of Minneapolis

Nobel Lecture: The Transformation of Macroeconomic Policy and Research
2006 | Journal of Political Economy, 114(2): 203-235

What a Country Must Do to Catch Up to the Industrial Leaders

2006 | Living Standards and the Wealth of Nations, Leszek Balcerowicz and Stanley Fisher, eds., Chapter 1: 17-40 | With Stephen L. Parente

Comment on “Do Taxes Explain European Employment?" by Lars Ljungqvist and Thomas J. Sargent

2006 | NBER Macroeconomics Annual, Daron Acemoglu, Kenneth Rogoff, and Michael Woodford, eds., Chapter 3: 233-242

On Equilibrium for Overlapping Generations Organizations
2005 | International Economic Review, 46(4): 1065-1080 | With José-Víctor Ríos-Rull
Previously: Federal Reserve Bank of Minneapolis Staff Report 282

Taxes, Regulations, and the Value of U.S. and U.K. Corporations
2005 | Review of Economic Studies, 72(3): 767-796 | With Ellen R. McGrattan
Previously: Federal Reserve Bank of Minneapolis Staff Report 309
Additional files and appendix (zip)
M-files and Ftools (zip)

Capacity Constraints, Asymmetries, and the Business Cycle
2005 | Review of Economic Dynamics, 8(4): 850-865 | With Gary D. Hansen

Productivity and the Post-1990 U.S. Economy
2005 | Federal Reserve Bank of St. Louis Review, 87(4): 537-550 | With Ellen R. McGrattan

Nonconvexities in Quantitative General Equilibrium Studies of Business Cycles

2005 | Frontiers of General Equilibrium Modeling: Essays in Honor of Herbert Scarf, Timothy J. Kehoe, T. N. Srinivasan, and John Whalley, eds., Chapter 5: 95-118

The Elasticity of Labor Supply and the Consequences for Tax Policy
2005 | Toward Fundamental Tax Reform, Kevin A. Hassett and Alan J. Auerbach, eds., Chapter 8: 123-134

A Unified Theory of the Evolution of International Income Levels
2005 | Handbook of Economic Growth 1B, Philippe Aghion and Steven N. Durlauf, eds., Chapter 21: 1371-1416 | With Stephen L. Parente

Comment on “Inflation, Output, and Welfare” by Ricardo Lagos and Guillaume Rocheteau
2005 | International Economic Review, 46(2): 523-531

Comment on “Measuring Capital and Technology: An Expanded Framework” by Carol Corrado, Charles Hulten and Daniel Sichel

2005 | Measuring Capital in the New Economy, Carol Corrado, John Haltiwanger, Daniel Sichel, eds., Chapter 1: 41-45

The 1929 Stock Market: Irving Fisher was Right
2004 | International Economic Review, 45(4): 991-1009 | With Ellen R. McGrattan
Previously: Federal Reserve Bank of Minneapolis Staff Report 294
Additional files (zip)
M-files and Ftools (zip)

Why Do Americans Work So Much More Than Europeans?
2004 | Federal Reserve Bank of Minneapolis, Quarterly Review 2811
Data files (zip)

Average Debt and Equity Returns: Puzzling?
2003 | American Economic Review, 93(2): 392-397 | With Ellen R. McGrattan
Previously: Federal Reserve Bank of Minneapolis Staff Report 313
Additional files (zip)
M-files and Ftools (zip)

The Equity Premium in Retrospect
2003 | Handbook of the Economics of Finance, 1B: Financial Markets and Asset Pricing, G.M. Constantinides, M. Harris and R.M. Stulz eds., Chapter 14: 889-938 | With Rajnish Mehra

Testing for Stock Market Overvaluation/Undervaluation

2003 | Asset Price Bubbles: The Implications for Monetary, Regulatory, and International Policies, William C. Hunter, George G. Kaufman and Michael Pomerleano, eds., Chapter 18: 271-276 | With Ellen R. McGrattan

Introduction to Sunspots and Lotteries
2002 | Journal of Economic Theory 107(1): 1-10 | With Karl Shell

Lotteries, Sunspots, and Incentive Constraints
2002 | Journal of Economic Theory 107(1): 39-69 | With Timothy J. Kehoe and David K. Levine

Malthus to Solow
2002 | American Economic Review, 92(4): 1205-1217 | With Gary D. Hansen
Previously: Federal Reserve Bank of Minneapolis Staff Report 257

Prosperity and Depression: 2002 Richard T. Ely Lecture
2002 | American Economic Review, 92(2): 1-15

Introduction: Great Depressions of the 20th Century
2002 | Review of Economic Dynamics, 5(1): 1-18 | With Timothy J. Kehoe

The 1990s in Japan: A Lost Decade
2002 | Review of Economic Dynamics, 5(1): 206-235 | With Fumio Hayashi
Previously: Federal Reserve Bank of Minneapolis Working Paper 607
Expanded version published in: The Economics of an Ageing Population, P. Onofri, ed. (2004), 35-74

Business Cycle Theory: Methods and Problems

2001 | Cycles, Growth, and Structural Change: Theories and Empirical Evidence, L.P. Punzo, ed., Chapter 12: 283-300

Barriers to Riches
2000 | With Stephen L. Parente | MIT Press

Is the Stock Market Overvalued?
2000 | Federal Reserve Bank of Minneapolis, Quarterly Review 2442 | With Ellen R. McGrattan
Additional files (zip)
M-files and Ftools (zip)

Monopoly Rights: A Barrier to Riches
1999 | American Economic Review, 89(5): 1216-1233 | With Stephen L. Parente
Previously: Federal Reserve Bank of Minneapolis Staff Report 236

Some Observations on the Great Depression
1999 | Federal Reserve Bank of Minneapolis, Quarterly Review 2312

Lawrence R. Klein Lecture 1997: Needed: A Theory of Total Factor Productivity
1998 | International Economic Review, 39(3): 525-551
Previously: Federal Reserve Bank of Minneapolis Staff Report 242

Postwar U.S. Business Cycles: An Empirical Investigation
1997 | Journal of Money, Credit and Banking, 29(1): 1-16 | With Robert J. Hodrick

Real Returns on Government Debt: A General Equilibrium Quantitative Exploration
1997 | European Economic Review 41(1): 115-137 | With Javier Dı́az-Giménez

Valuation Equilibrium with Clubs
1997 | Journal of Economic Theory, 74(1): 19-39 | With Harold L. Cole
Previously: Federal Reserve Bank of Minneapolis Staff Report 174

On Defining Real Consumption
1997 | Federal Reserve Bank of St. Louis Review 9705, 47-54

The Computational Experiment: An Econometric Tool
1996 | Journal of Economic Perspectives, 10(1): 69-85 | With Finn E. Kydland
Also published in: Real Business Cycles, Kevin D . Salyer, James E. Hartley, and Kevin D. Hoover, eds., Chapter 13: 237-253
Previously: Federal Reserve Bank of Minneapolis Staff Report 178

Commentary on "Inflation Targeting in a St. Louis Model of the 21st Century" by Robert G. King and Alexander L. Wolman
1996 | Federal Reserve Bank of St. Louis Review 9605, 112-117

Introduction to the Symposium: The Discipline of Applied General Equilibrium
1995 | Economic Theory, 6(1): 1-11 | With Timothy J. Kehoe

Equilibrium Business Cycles with Idle Resources and Variable Capacity Utilization
1995 | Economic Theory, 6(1): 35-49 | With Thomas F. Cooley and Gary D. Hansen

Economic Growth and Business Cycles

1995 | Frontiers of Business Cycle Research, Thomas F. Cooley, ed., Chapter 1: 1-38 | With Thomas F. Cooley

Recursive Methods for Computing Equilibria in Business Cycle Models

1995 | Frontiers of Business Cycle Research, Thomas F. Cooley, ed., Chapter 2: 39-64 | With Gary D. Hansen

Comment on “Computable General Equilibrium Models and Monetary Policy Advice” by David E. Altig, Charles T. Carlstrom and Kevin J. Lansing
1995 | Journal of Money, Credit and Banking, 27(4, Part 2): 1502-1505

Barriers to Technology Adoption and Development
1994 | Journal of Political Economy, 102(2): 298-321 | With Stephen L. Parente
Previously: Federal Reserve Bank of Minneapolis Staff Report 136

Did Technology Shocks Cause the 1990-1991 Recession?
1993 | American Economic Review, 83(2): 280-286 | With Gary D. Hansen

Changes in the Wealth of Nations
1993 | Federal Reserve Bank of Minneapolis, Quarterly Review 1721 | With Stephen L. Parente

Effects of Alternative Monetary Stabilization Policies: An Unexpected Finding
1993 | Federal Reserve Bank of San Francisco, Working Papers in Applied Economic Theory 93-06

Cyclical Movements of the Labor Input and Its Implicit Real Price
1993 | Federal Reserve Bank of Cleveland, Economic Review 29(2): 12-23 | With Finn E. Kydland

The Firm and the Plant in General Equilibrium Theory
1993 | General Equilibrium, Growth and Trade: The Legacy of Lionel McKenzie, Robert Becker, Michele Boldrin and Ronald Jones, eds., Part 2, Chapter 7: 393-410 | With Andreas Hornstein

Some Comments on the Use of General Equilibrium Theory in Aggregate Analysis

1993 | General Equilibrium 40th Anniversary Conference, CORE Discussion Paper 9482, 149-160

Technology Adoption and the Mechanics of Economic Development

1992 | Political Economy, Growth and Business Cycles, Alex Cukierman, Zvi Hercowitz and Leonardo Leiderman, eds., Chapter 7: 197-226 | With Stephen L. Parente

Stochastic Monotonicity and Stationary Distributions for Dynamic Economies
1992 | Econometrica, 60(6): 1387-1406 | With Hugo A. Hopenhayn

Banking in Computable General Equilibrium Economies
1992 | Journal of Economic Dynamics and Control, 16(3-4): 533-559 | With Javier Díaz-Giménez, Terry Fitzgerald and Fernando Alvarez
Previously: Federal Reserve Bank of Minneapolis Staff Report 153

Classical Competitive Analysis of Economies with Islands
1992 | Journal of Economic Theory, 57(1): 73-98 | With José-Víctor Ríos-Rull

Insurance Contracts as Commodities: A Note
1991 | Review of Economic Studies, 58(5): 917-928 | With Andreas Hornstein

Real Business Cycle Theory: What Have We Learned?
1991 | Revista de Análisis Economico, 6(2): 3-19

Seigniorage as a Tax: A Quantitative Evaluation
1991 | Journal of Money, Credit and Banking, 23(No 3. Part 2): 462-475 | With Ayşe İmrohoroğlu
Previously: Federal Reserve Bank of Minneapolis Staff Report 132

Evaluating the Welfare Effects of Alternative Monetary Arrangements
1991 | Federal Reserve Bank of Minneapolis, Quarterly Review 1531 | With Ayşe İmrohoroğlu

The Econometrics of the General Equilibrium Approach to Business Cycles
1991 | The Scandinavian Journal of Economics, 93(2): 161-178 | With Finn E. Kydland
Also published in: Real Business Cycles, Kevin D . Salyer, James E. Hartley, and Kevin D . Hoover, eds., Chapter 12: 219-236
Previously: Federal Reserve Bank of Minneapolis Staff Report 130

Métodos recursivos para calcular equilibrios en modelos del ciclo económico

1991 | Cuadernos Economicos de Ice 47: 85-112 | With Gary D. Hansen

El análisis econométrico del enfoque de equilibrio general de los ciclos económicos

1991 | Cuadernos Economicos de Ice 48: 125-142 | With Finn E. Kydland

Measures of the Insurance Sector Output
1991 | The Geneva Papers on Risk and Insurance. Issues and Practice, 16(59): 191-206 | With Andreas Hornstein

Hours and Employment Variation in Business Cycle Theory
1991 | Economic Theory, 1(1): 63-81 | With Finn E. Kydland
Previously: Federal Reserve Bank of Minneapolis Discussion Paper 17

Business Cycles: Real Facts and a Monetary Myth
1990 | Federal Reserve Bank of Minneapolis, Quarterly Review 1421 | With Finn E. Kydland

Comment on “The Timing of Raises and Other Payments” by Edward P. Lazear
1990 | Studies in Labor Economics in Honor of Walter O. Y. Oi, Allan H. Meltzer and Charles I. Plosser, eds., Carnegie-Rochester Conference Series on Public Policy 33: 49-52

Recursive Methods in Economic Dynamics
1989 | With Nancy L. Stokey and Robert E. Lucas, Jr., eds | Harvard University Press

Time Consistency and Policy

1989 | Modern Business Cycle Theory, Robert Barro, ed., 265-305 | With V.V. Chari and Patrick Kehoe

Comment on “Building Blocks of Market Clearing Business Cycle Models" by Kevin M. Murphy, Andrei Shleifer, Robert W. Vishny

1989 | NBER Macroeconomics Annual, Olivier J. Blanchard and Stanley Fischer, eds., Chapter 5: 287-291

The Equity Risk Premium: A Solution?
1988 | Journal of Monetary Economics, 22(1): 133-136 | With Rajnish Mehra

Organizations in Economic Analysis
1988 | Canadian Journal of Economics, 21(3): 477-491 | With John H. Boyd and Bruce D. Smith
Previously: Federal Reserve Bank of Minneapolis Working Paper 385

Robert M. Solow's Neoclassical Growth Model: An Influential Contribution to Economics
1988 | The Scandinavian Journal of Economics, 90(1): 7-12

The Workweek of Capital and its Cyclical Implications
1988 | Journal of Monetary Economics, 21(2-3): 343-360 | With Finn E. Kydland

Dynamic Coalitions, Growth, and the Firm
1988 | Contractual Arrangements for Intertemporal Trade, Edward C. Prescott and Neil Wallace, eds., Chapter 7: 146-160 | With John H. Boyd

Contractual Arrangements for Intertemporal Trade
1987 | With Neil Wallace | University of Minnesota Press

Dynamic Coalitions: Engines of Growth
1987 | American Economic Review, 77(2): 63-67 | With John H. Boyd

A Multiple Means-of-Payment Model

1987 | New Approaches to Monetary Economics, William A. Barnett and Kenneth J. Singleton, eds., Chapter 2: 42-51

Comment on “The New Keynesian Microfoundations" by Julio Rotemberg

1987 | NBER Macroeconomics Annual, Stanley Fischer, ed., Chapter 2: 110-114

Theory Ahead of Business-Cycle Measurement
1986 | Carnegie-Rochester Conference Series on Public Policy, 25: 11-44
Revised version: Federal Reserve Bank of Minneapolis, Quarterly Review 1042

Response to a Skeptic
1986 | Federal Reserve Bank of Minneapolis, Quarterly Review 1044
Also published in: Real Business Cycles: A Reader (1998), Kevin D. Salyer, James E. Hartley, and Kevin D. Hoover, eds. Chapter 6: 102-107

Financial Intermediary-Coalitions
1986 | Journal of Economic Theory, 38(2): 211-232 | With John H. Boyd
Previously: Federal Reserve Bank of Minneapolis Staff Report 87

The Equity Premium: A Puzzle
1985 | Journal of Monetary Economics, 15(2): 145-161 | With Rajnish Mehra
Previously: Federal Reserve Bank of Minneapolis Staff Report 81

General Competitive Analysis in an Economy with Private Information
1984 | International Economic Review, 25(1): 1-20 | With Robert M. Townsend

Pareto Optima and Competitive Equilibria with Adverse Selection and Moral Hazard
1984 | Econometrica, 52(1): 21-46 | With Robert M. Townsend

Time to Build and Aggregate Fluctuations
1982 | Econometrica, 50(6): 1345-1370 | With Finn E. Kydland

Recursive Competitive Equilibrium: The Case of Homogeneous Households
1980 | Econometrica, 48(6): 1365-1379 | With Rajnish Mehra

Organization Capital
1980 | Journal of Political Economy, 88(3): 446-461 | With Michael Visscher

Dynamic Optimal Taxation, Rational Expectations and Optimal Control
1980 | Journal of Economic Dynamics and Control, 2: 79-91 | With Finn E. Kydland

A Competitive Theory of Fluctuations and the Feasibility and Desirability of Stabilization Policy
1980 | Rational Expectations and Economic Policy, Stanley Fischer, ed., Chapter 5: 169-198 | With Finn E. Kydland

Equilibrium Under Uncertainty: Multi-Agent Statistical Decision Theory

1980 | Bayesian Analysis in Econometrics and Statistics: Essays in Honor of Harold Jeffreys, Arnold Zellner, ed., 169-194 | With Robert M. Townsend

Earnings and Employment Dynamics of Manpower Trainees: An Exploratory Econometric Analysis

1979 | Evaluating Manpower Training Programs, Farrell E. Bloch, ed., 119-147 | With Thomas F. Cooley and Timothy W. McGuire

Sequential Location Among Firms with Foresight
1977 | Bell Journal of Economics, 8(2): 378-393 | With Michael Visscher

Rules Rather than Discretion: The Inconsistency of Optimal Plans
1977 | Journal of Political Economy, 85(3): 473-492 | With Finn E. Kydland

Should Control Theory be Used for Economic Stabilization?
1977 | Carnegie-Rochester Conference Series on Public Policy, 7: 13-38
Related: "A Rejoinder": Carnegie-Rochester Conference Series on Public Policy, 7: 101-102

Estimation in the Presence of Stochastic Parameter Variation
1976 | Econometrica, 44(1): 167-184 | With Thomas F. Cooley

Efficiency of the Natural Rate
1975 | Journal of Political Economy, 83(6): 1229-1236

Optimal Stabilizations: A New Approach

1974 | Proceedings of the Fifth Annual Conference on Modeling and Simulation | With Finn E. Kydland

Equilibrium Search and Unemployment
1974 | Journal of Economic Theory, 7(2): 188-209 | With Robert E. Lucas

Market Structure and Monopoly Profits: A Dynamic Theory
1973 | Journal of Economic Theory, 6(6): 546-557

Systematic (Non-Random) Variation Models: Varying Parameter Regression: A Theory And Some Applications
1973 | Annals of Economic and Social Measurement 2(4), Sanford V. Berg, ed., 463-473 | With Thomas F. Cooley

An Adaptive Regression Model
1973 | International Economic Review, 14(2): 364-371 | With Thomas F. Cooley

Tests of an Adaptive Regression Model
1973 | The Review of Economics and Statistics, 55(2): 248-256 | With Thomas F. Cooley

The Multi-Period Control Problem Under Uncertainty
1972 | Econometrica, 40(6): 1043-1058

A Note on Price Systems in Infinite Dimensional Space
1972 | International Economic Review, 13(2): 416-422 | With Robert E. Lucas

Adaptive Decision Rules for Macroeconomic Planning
1971 | Economic Inquiry (previously Western Economic Journal), 9(4): 369-378

Investment Under Uncertainty
1971 | Econometrica, 39(5): 659-681 | With Robert E. Lucas

Multiple Regression with Inequality Constraints: Pretesting Bias, Hypothesis Testing and Efficiency
1970 | Journal of the American Statistical Association, 65(330): 913-925 | With Michael C. Lovell

Money, Multiplier Accelerator Interaction, and the Business Cycle
1968 | Southern Economic Journal, 35(1): 60-72 | With Michael C. Lovell

Collusion in Oligopoly: An Experiment on the Effect of Numbers and Information
1968 | Quarterly Journal of Economics, 82(2): 240-259 | With F.T. Dolbear, L.B. Lave, G. Bowman, A. Lieberman, F. Rueter, and R. Sherman

Advanced Undergraduate Macro

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