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Norwegian Finn E. Kydland is awarded the Nobel Prize in Economics
The Royal Swedish Academy of Science announced on 11 October that Finn E. Kydland of Norway and Edward C. Prescott of the USA have been awarded the Nobel Prize in economics for 2004.
They have received the prize "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles."
Mr Kydland and Mr Prescott have made fundamental contributions to research in macroeconomics. The Laureates have analysed the design of economic policy and the driving forces behind business cycles in a highly innovative way. Their work has not only transformed economic research, but also profoundly influenced the practice of economic policy in general, and monetary policy in particular, according to the official Nobel Prize website (www.nobelprize.org). Here you can also read more about why the Laureates were awarded the prize and about their work.
Mr Kydland, born in 1943, is a Norwegian-American economist. He graduated from the Norwegian School of Economics and Business Administration in 1968 and received a Ph.D. in 1973 from Carnegie Mellon University in Pittsburg, USA, where he became professor in 1976. Mr Kydland shares the prize with Mr Prescott, born in 1940. Mr Prescott received a Ph.D. from Carnegie Mellon University in 1967 and is professor at Arizona State University and a researcher at the Federal Reserve Bank of Minneapolis.
Links:
www.nobelprize.org
www.kva.se
20.04.2004: Launching of the Global Development Finance Report 2004
The Annual Global Development Finance Report for 2004 (GDF 2004) was launched in Oslo on Tuesday 20 April.
The GDF Report analyses official and private capital flows to and from developing countries and is regarded as one of the World Bank's flagship reports. It contains a great deal of information on international capital flows and the global economic situation. This year's report will be launched by a team from the World Bank.
15.04.2004: Norway tops development assistance ranking list
Norway currently ranks first in the world in terms of the percentage of gross national income (GNI) allocated to Official Development Assistance (ODA). According to preliminary OECD figures, Norway allocated 0.92 per cent of its GNI to ODA in 2003. The new figures also show that the OECD countries' aid volume has increased by 11 per cent in the course of the last two years, totalling USD 68.5 billion in 2003.
Read the full texts under Press releases.
Revidert reiseråd pr. 27.08.04
Pakistan Development Forum May 2003 - comments by the Norwegian delegation.
Press releases
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