Finn E. Kydland facts for kids
Quick facts for kids
Finn Erling Kydland
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Kydland in 2015
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| Born | 1 December 1943 |
| Nationality | Norwegian |
| Field | Macroeconomics |
| School or tradition |
New classical economics |
| Alma mater | Norwegian School of Economics (BSc) Carnegie Mellon University (PhD) |
| Doctoral advisor |
Edward C. Prescott David Cass |
| Influences | Robert S. Kaplan |
| Contributions | Real Business Cycle Theory Time consistency in economic policy |
| Awards | Nobel Memorial Prize in Economics, 2004 |
| Information at IDEAS / RePEc | |
Finn Erling Kydland was born on December 1, 1943, in Norway. He is a famous economist known for his ideas about how economies grow and change over time. He teaches economics at the University of California, Santa Barbara. He also holds a special teaching position at Carnegie Mellon University, where he earned his highest degree.
In 2004, Finn Kydland won the Nobel Memorial Prize in Economics. He shared this award with Edward C. Prescott. They won for their important work on how economic policies should be made over time. They also studied what causes business cycles, which are the ups and downs in an economy.
Contents
About Finn Kydland
His Early Life and Education
Finn Kydland grew up on a family farm in a place called Søyland, in southwestern Norway. He was the oldest of six children. He remembers his parents giving him a lot of freedom as he grew up.
When he was a young adult, Finn became interested in math and economics. This happened after he helped a friend with the bookkeeping for a mink farm. Bookkeeping is like keeping track of money coming in and going out.
Because of his new interest, Kydland studied economics. He earned his first degree from the Norwegian School of Economics in 1968. Then, he went to Carnegie Mellon University in the United States. He earned his PhD in economics there in 1973. His main teacher was Edward C. Prescott.
After getting his PhD, he went back to Norway to teach. In 1978, he moved back to Carnegie Mellon University. He has lived in the United States ever since.
His Work and Research
Finn Kydland is an expert in economics and how governments manage their economies. He teaches about business cycles, which are the natural periods of growth and slowdown in an economy. He also teaches about how governments use money and spending to influence the economy.
He started teaching at Carnegie Mellon University in 1977. In 2004, he joined the University of California, Santa Barbara. There, he started a special lab to study how economies work on a large scale.
Kydland also works with several Federal Reserve Banks. These banks are part of the central banking system of the United States. He has also visited and taught at other universities around the world.
His Family Life
Finn Kydland married Liv Kjellevold in 1968. They had four children together: Jon Martin, Eirik, Camilla, and Kari. He is now married to Tonya Schooler.
Awards and Recognition
Finn Kydland has received many honors for his work. Here are some of them:
- Nobel Memorial Prize in Economics (2004)
- He became a Fellow of the Econometric Society in 1992. This is a group for top economists.
- He received the John Stauffer National Fellowship from the Hoover Institution (1982–1983).
- He won the Alexander Henderson Award from Carnegie Mellon in 1973.
- He is a member of the Norwegian Academy of Science and Letters.
- He received the International Chamber of Commerce Oslo Business for Peace Award in 2017.
See also
In Spanish: Finn Kydland para niños
