Edward C. Prescott

The Nobel laureate in economics in 2004, the \father of the new business cycle theory\, is a renowned American economist whose research fields include macroeconomics, general equilibrium theory and applications, income inequality and econometrics. Long dedicated to business cycle analysis, its research results have changed people's views on the causes of business cycles and provided a foundation for expanding business cycle research. In 2004, he was awarded the Nobel Prize in Economics for his creative research in economic policy and world business cycles. He has taught at prestigious universities such as the University of Chicago and Carnegie Mellon University. He is currently a professor at Arizona State University and serves as a senior advisor to the Minneapolis branch of the Federal Reserve Bank of the United States. He is the only Nobel Prize economist serving at the Federal Reserve and is also a member of the American Academy of Arts and Sciences and the National Academy of Sciences.