Edward Prescott News
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The Federal Reserve’s Charles Evans entered the lion’s den of monetary orthodoxy to make his pitch: unemployment must come down, even at the cost of temporarily higher inflation.
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If I were to learn on Dec. 31 that my taxes are going up next year, I would do ... absolutely nothing.
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The U.S. economy is likely to experience a period of stagnation until the country reduces its debt, according to Edward Prescott , senior monetary adviser to the Federal Reserve Bank in Minneapolis.
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Edward Prescott , a Nobel Prize- winning economist and senior monetary adviser to the Reserve Bank of Minneapolis, comments on quantitative easing.
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President Barack Obama is betting he learned enough lessons from Herbert Hoover to revive an economy still slowed in the wake of financial crisis.
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For only the third time since the Industrial Revolution, the world may be entering a long-term growth cycle that will lift all economies simultaneously, driving bond yields and commodity prices higher.
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Never let it be said that the financial community has a deaf ear for language. The same folks who saw “green shoots” after the “soft patch” are now focusing their collective attention on the “fiscal cliff.”
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Thomas J. Sargent and Christopher A. Sims richly deserve the Nobel Memorial Prize in Economic Sciences they were awarded this week for their seminal work in the fields of macroeconomics and time series econometrics.
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Whether discussing economic challenges with soldiers in Texas or seeking disclosure of policy makers’ goal for inflation, Federal Reserve Chairman Ben S. Bernanke is moving the U.S. central bank toward openness at a faster pace than any predecessor.
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In the midst of great macroeconomic uncertainty, the Nobel Prize in Economics has been awarded to Thomas Sargent, of New York University, and Christopher Sims, of Princeton University, for work on “empirical macroeconomics.” Sargent and Sims are both superb scholars whose work has molded macroeconomics. They helped destroy the false certainty of an older Keynesian orthodoxy, and did their best to build more robust tools that shed light on public policy over the business cycle.
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