Seventeenth Lecture

The Department of Economics

The Grunberg Lecture Series

The Seventeenth Lecture - April 18, 2006

Finn Kydland image

Dr. Finn Kydland
Henley Endowed Chair in Economics
University of California, Santa Barbara

Nobel Prize in Economics, 2004

“GOVERNMENT POLICY AND ECONOMIC GROWTH”

Professor Kydland received the Nobel Prize for his work on business cycles and macroeconomic policy. His innovative research with his colleague Edward Prescott on the causes of economic fluctuations has shifted the perspective to technology and other shocks as the driving forces. Their work on macroeconomic decision making has established the importance of credibility and political feasibility in monetary and fiscal policy. Dr. Kydland will discuss the role of government by reviewing the similar but different policies and paths taken by Ireland and Argentina as they each struggled to move from deep recession back to economic growth. The lessons learned are relevant to us in N.E. Ohio.

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