Nobel prize for economics 2004
Date of Admittance: 12/06/2017
Finn Erling Kydland, born in Ålgård, Norway, in 1943, is an economist known for his contributions to dynamic macroeconomics. In 2004, he was awarded the Nobel Prize in Economics alongside Edward C. Prescott for their studies on the time consistency of economic policy and the driving forces behind business cycles. He is currently a professor of Economics at the University of California, Santa Barbara, and previously taught at the Tepper School of Business at Carnegie Mellon University.
He grew up on a family farm in Søyland, Gjesdal, as the eldest of six siblings. He recalls having a childhood with great freedom, as his parents imposed few restrictions. His interest in mathematics and economics arose when, as a high school student, he took on the bookkeeping responsibilities for a family friend’s farm.
He graduated from the Norwegian School of Economics (NHH) in 1968 and later earned a Ph.D. in Economics from Carnegie Mellon University in 1973, with a dissertation focused on decentralized macroeconomic planning. In 1978, he was hired as an associate professor at Carnegie Mellon, where he worked until 2004, when he moved to the University of California, Santa Barbara. Since then, he has lived in the United States.
His specialization focuses on economics and policy, with a particular emphasis on business cycles, fiscal and monetary policy, and labor economics. In addition to his role at the University of California, he is also an adjunct professor at NHH in Norway, an honorary professor at Torcuato Di Tella University in Buenos Aires, and an associate research consultant for the Federal Reserve Banks of Dallas, Minneapolis, and Cleveland.
Outside of academia, Kydland has a deep passion for blues music and sports. He is a fan of Boca Juniors and an avid runner, having completed four marathons. He also enjoys long motorcycle journeys, one of his greatest hobbies.
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