Finn E. Kydland

Finn Erling Kydland ( born December 1, 1943 in Ålgård in Stavanger ) is a Norwegian economist. Along with Edward C. Prescott 2004 he received for his contributions to dynamic macroeconomics the Nobel Prize in Economics.

Life

Kydland received his doctorate in economics in 1973 from Carnegie Mellon University. From time immemorial, Kydland collaborated with Edward C. Prescott. Kydland and Prescott studied why economy is not evenly developed, but expansionary phases are repeatedly replaced by periods of recession. In essence, they come to the conclusion that the responsibility for this lies in the batch-wise development of new technologies. This prices, productivity and wages are changed and so triggered economic cycles. Another research area concerns the influence of monetary and economic policy on these cycles. Here they come to the conclusion: ". Seem more credible policy and the National Bank, the more stable is the respective business cycle " The Committee stressed that the essential meaning of the results on the practice of many countries regarding monetary and economic policy a rash for granting had the price.

Kydland, Professor of Economics at the Tepper School of Business at Carnegie Mellon University and the University of California, Santa Barbara. He is also a professor at the Norwegian School of Economics mountains.