FMI Public Speaker Series — April 25
Economic Policy and the Growth of Nations – Finn Kydland
The Free Market Institute will host Finn Kydland, Henley Professor of Economics at University of California, Santa Barbara, and 2004 co-recipient of the Nobel Memorial Prize in Economic Sciences. Prof. Kydland will deliver a public lecture on Economic Policy and the Growth of Nations.
The lecture will take place on Tuesday, April 25, 2023, in the Frazier Alumni Pavilion (2680 Drive of Champions, Lubbock, TX 79409), from 5:30 – 6:30 PM on the Texas Tech University campus.
Event Parking will be available in TTU Commuter North Lot – Frazier Alumni Pavilion.
This program is free and open to the TTU community and the general public.
Note: This program was rescheduled from March 28 to April 25, 2023.
About the Program
Prof. Finn Kydland was awarded the Nobel Prize in Economics in 2004 jointly with Professor Edward Prescott of Arizona State University. They received the Prize for their research on business cycles and macroeconomic policy, specifically the driving forces behind business cycles and for the finding that optimal government policy is time inconsistent – a commitment mechanism is needed to ensure the successful implementation of optimal policy.
An example in the arena of monetary policy is setting up institutions to ensure that central bank policy is independent of political pressure, as for instance New Zealand and Scandinavian countries have been successful in doing. The challenge is greater in the fiscal arena. If factories have already been constructed, it's tempting to tax the income from their operation, which then, in turn, will act as a disincentive for future investment and growth.
In his speeches, Prof. Kydland sometimes quips that if some hot-shot economist(s) can figure out how to commit credibly to good tax and debt policy then eventually they'll stand in front of the King of Sweden to accept an important Prize!
About the Speaker
Prof. Finn Kydland joined the UC Santa Barbara faculty in July 2004, appointed to the Jeff Henley Chair in Economics. He previously taught at Carnegie Mellon University, where he earned his Ph.D. A native of Norway, he earned his bachelor's degree at the Norwegian School of Economics and Business Administration.
Prof. Kydland won the Nobel Prize jointly with Arizona State University's Edward C. Prescott. The Royal Swedish Academy of Sciences said the two made "fundamental contributions of great significance" to macroeconomic research. Kydland has published more than 50 papers, five of which have been cited a total of over 26,000 times. He is a research associate of the Federal Reserve Banks of Dallas and has been a visiting professor at universities in six countries.
His honors and awards include the John Stauffer National Fellowship in Public Policy from the Hoover Institution on War, Revolution, and Peace at Stanford University. He was named a fellow of the Econometric Society in 1992.
For more information about this program and other upcoming events, visit www.events.fmi.ttu.edu or contact the Free Market Institute at free.market@ttu.edu or (806) 742-7138.