DEFINITION of 'Finn E. Kydland'
A Norwegian economist and winner of the 2004 Nobel Prize in economics, along with Edward C. Prescott, for his macroeconomic analysis of the business cycle and economic policy. His 1982 paper, co-authored with Prescott, challenged the Keynesian view of the business cycle. Kydland and Prescott are also famous for a 1977 paper on the time consistency problem in economic policymaking.
BREAKING DOWN 'Finn E. Kydland'
Born in Norway in 1943, Kydland earned his Ph.D. from Carnegie Mellon University. He became a professor of economics at the University of California at Santa Barbara. Previously, he taught at Carnegie Mellon.