Finn. E. Kydland

Finn. E. Kydland, a Norwegian economist and a co-recipient of Nobel Prize with Edward C. Prescott for Economics in 2004. People will remember him for his work on dynamic macroeconomics, which is actually the time consistency of economic policy and the impetus behind the business cycles.

[br] Personal and career profiles:

Finn. E. Kydland, a Norwegian economist and a co-recipient of Nobel Prize with Edward C. Prescott for Economics in 2004. People will remember him for his work on dynamic macroeconomics, which is actually the time consistency of economic policy and the impetus behind the business cycles.

[br] Personal and career profiles:

The renowned economist, Finn Erling Kydland, was born on December,1943 at Algard, Norway. In 1968, E. Kydland, attained the Norwegian Siviløkonom degree from Norwegian School of Economics and Business Administration. Norwegian Siviløkonom degree is equivalent to Master of Science. After working as a research scholar for a couple of years in NHH ( Norwegian School of Economics and Business Administration), E. Kydland moved to Carnegie Mellon University, USA where he completed his PhD. under the supervision of Prescott, in 1973. During that time Finn Erling Kydland along with Prescott established the microeconomic policy.

Honors and Awards
Some of the awards and honors achieved by Finn E. Kydland are given below in chronological order

• 1968: Achieved his university degree in BS Economics from Norwegian School of Economics and Business Administration
• 1973: Awarded PhD in Economics, from Carnegie Mellon University
• 1973-78: He was the teacher of Economics in Norwegian School of Economics and Business Administration.
• 1978-2004: He worked as the Professor of Economics in Carnegie Mellon University
• 2004: This year Professor, Finn E. Kydland was awarded Nobel Prize for Economics. He was the co-recipient of Nobel Prize with Edward C. Prescott. From 2004, Professor Finn E. Kydland is working as a Professor of Economics at the University of California in Santa Barbara

Fellowship

• 1992: Fellow, Econometric Society
• 1982-83: John Stauffer National Fellowship, Hoover Institution

Area of studies

Professor Kydland showed his expertise in major areas of economics like business cycles, monetary policy, fiscal policy and labor economics.

Theories propounded [br] 

Professor Kydland developed theory on dynamic macroeconomics, which is the impetus behind the business cycles. This theory explains business cycles by considering changes in technology and other supply side impacts like rise of oil price. This consequently creates short-term fluctuations around the long-term economic growth path.

Publications:
Some of his famous works include:

• 1979 (with Edward C. Prescott) : Dynamic Optimal Taxation, Rational Expectations and Control
• 1986( with V. Joseph Holtz and Guilherme L. Sedlacek): Inter temporal Preferences and Labor Supply
• 1989:The Role of Money in a Business Cycle Model and Hours and Employment Variation in Business Cycle Theory (with Edward C. Prescott)
• 1990 (with Edward C. Prescott): The Econometrics of the General Equilibrium Approach to Business Cycles
• 1990: The Gold Standard as a Rule (with Michael D. Bordo)
• 1991: On the Econometrics of World Business Cycles
• 1991:International Business Cycles: Theory and Evidence (with David Backus and Patrick J. Kehoe)
• 1992(David Backus and Patrick J. Kehoe): Relative Price Movements in Dynamic General Equilibrium Models of International Trade
• 1993:Business Cycles and Aggregate Labor-Market Fluctuations
• 1994 ( with Edward C. Prescott):The Computational Experiment: An Econometric Tool
• 1995: Business Cycle Theory
• 1996( with William T Gavin):Endogenous Money Supply and the Business Cycle
• 1998 (with Scott Freeman):Monetary Aggregates and Output
• 1999( with Robert Dittmar and William T. Gavin):Price-Level Uncertainty and Inflation Targeting
• 2000(with William T. Gavin): Nominal Facts and the October 1979 Policy Change
• 2001(with Robert D. Dittmar and William T. Gavin): Inflation Persistence and Flexible Prices
• 2002(with Carlos Enrique Zarazaga): Argentina’s Recovery and “Excess” Capital Shallowing of the 1990s
• 2004( with William T. Gavin and Michael R. Pakko): Monetary Policy, Taxes and the Business Cycle

Books by Finn. E. Kydland

• On the econometrics of world business cycles (Working paper / Federal Reserve Bank of Cleveland)
• The role of money in a business cycle model (Discussion paper)
• The computational experiment: An econometric tool (Working paper / Federal Reserve Bank of Cleveland)
• Hours and employment variation in business cycle theory (Discussion paper)

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