Finn Erling Kydland | |
|---|---|
.jpg) Kydland in 2015 | |
| Born | (1943-12-01)1 December 1943 (age 81) |
| Academic background | |
| Alma mater | Norwegian School of Economics (BSc) Carnegie Mellon University (PhD) |
| Thesis | Decentralized Macroeconomic Planning (1975) |
| Doctoral advisor | Edward C. Prescott David Cass |
| Influences | Robert S. Kaplan |
| Academic work | |
| Discipline | Macroeconomics |
| School or tradition | New classical economics |
| Notable ideas | Real Business Cycle Theory Time consistency ineconomic policy |
| Awards | Nobel Memorial Prize in Economics, 2004 |
| Website | |
Finn Erling Kydland (born 1 December 1943) is aNorwegianeconomist known for his contributions to business cycle theory.[1] He is the Henley Professor of Economics[2] at theUniversity of California, Santa Barbara. He also holds the Richard P. Simmons Distinguished Professorship at theTepper School of Business ofCarnegie Mellon University, where he earned hisPhD, and a part-time position at theNorwegian School of Economics (NHH). Kydland was a co-recipient of the 2004Nobel Memorial Prize in Economics,[3] withEdward C. Prescott, "for their contributions to dynamicmacroeconomics: thetime consistency of economic policy and the driving forces behindbusiness cycles."[4]
Kydland grew up as the eldest of six siblings at the family farm in Søyland,Gjesdal, which is located in theJæren farming region inRogaland county, southwesternNorway. He recalls having had a liberal upbringing, his parents not imposing many limitations on their children. Finn Kydland became interested in mathematics and economics as a young adult, after he did somebookkeeping at a friend'smink farm.
With a freshly awakened interest in theoretical economics, Kydland earned aBSc from NHH in 1968 and aPhD in economics fromCarnegie Mellon in 1973,dissertation:Decentralized Macroeconomic Planning, supervised byEdward C. Prescott.[5] After his PhD he returned to NHH as an assistant professor. In 1978 he moved back to Carnegie Mellon as an associate professor. He has been living in the United States since then.
Kydland's areas of expertise areeconomics in general andpolitical economy. His main areas of teaching and interest arebusiness cycles,monetary andfiscal policy andlabor economics. He joined the faculty ofCarnegie Mellon University in 1977, where he served as aProfessor of Economics until 2004, when he became a faculty member of theUniversity of California, Santa Barbara[6] and founded the Laboratory for Aggregate Economics and Finance (LAEF) at this same institution.[7][8] He is a Research Associate for theFederal Reserve Banks ofDallas,Cleveland andSt. Louis, and a Fellow at theIC² Institute at theUniversity of Texas at Austin. He is also anadjunct professor at the NHH, and has held visiting scholar and professor positions at, among other places, theHoover Institution and theUniversidad Torcuato di Tella inBuenos Aires,Argentina.
Kydland married Liv Kjellevold in 1968, with whom he had four children: Jon Martin, Eirik, Camilla, and Kari. He is now married toTonya Schooler.
including the Prize Lecture on December 8, 2004Quantitative Aggregate Theory| Awards | ||
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| Preceded by | Laureate of the Nobel Memorial Prize in Economics 2004 Served alongside:Edward C. Prescott | Succeeded by |
