Staff Details

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Edward C. Prescott

Senior Monetary Advisor


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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.

Prescott's Website

Recent Work/Updates

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

Monetary Policy with 100 Percent Reserve Banking: An Exploration
June 2016 - Staff Report

Technical Appendix: On Financing Retirement with an Aging Population
February 2016 - Staff Report

On Financing Retirement with an Aging Population
February 2016 - Staff Report

RBC Methodology and the Development of Aggregate Economic Theory
February 2016 - Staff Report

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