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AMERICAN AND SWEDE SHARE NOBEL PRIZE
Comments 0 | Recommend 0STOCKHOLM, Sweden (AP) _ A Norwegian and an American share this
year's Nobel Prize for economics.
Finn Kydland and Edward Prescott have been honored for their
work in determining the consistency of economic policy and the
driving force behind business cycles worldwide.
The 60-year-old Kydland, of Norway, teaches at Carnegie Mellon
University in Pittsburgh and the University of California at Santa
Barbara. Prescott is 63 and is at Arizona State University in
Tempe. He's also part of the Federal Reserve Bank of Minneapolis.
The selection of an American continues a five-year streak in the
economics area.
The Royal Swedish Academy of Sciences says the two men made
fundamental contributions not only in macroeconomic analysis, but
also for the practice of monetary and fiscal policy in many
countries. They'll share about one-point-three million dollars.
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