Professional Experience

Ned Prescott is a vice president in the Research Department. He has published in a variety of economic journals, including the Journal of Political Economy and the Review of Economic Studies. Presently, he serves as an associate editor of Economic Theory and an editor of the Richmond Fed’s Economic Quarterly.

Prescott was a visiting professor at CEMFI in Madrid, Spain in 2004, visited the European Central Bank in 2005, and taught at the University of Virginia. He joined the Richmond Fed as an economist in 1995.

Education

Ph.D., University of Chicago, 1995
B.A., Swarthmore College, 1988

Curriculum vitae

“Firms as Clubs in Walrasian Markets with Private Information” (with Robert M. Townsend). Journal of Political Economy 114, no. 4 (August 2006): 644-671.

• Technical appendix
• Computer code used for examples in article
• Documentation for computer code

“Private Information and Intertemporal Job Assignments” (with Robert M. Townsend). Review of Economic Studies 73, no. 2 (April 2006): 531-548.

“State-Contingent Bank Regulation with Unobserved Actions and Unobserved Characteristics” (with David A. Marshall). Journal of Economic Dynamics & Control 30, no. 11 (November 2006): 2015-2049.

“Computing Solutions to Moral-Hazard Programs Using the Dantzig-Wolfe Decomposition Algorithm.” Journal of Economic Dynamics & Control 28, no. 4 (January 2004): 777-800.

• Computer code

“Communication in Private-Information Models: Theory and Computation.” Geneva Papers on Risk and Insurance Theory 28, no. 2 (December 2003): 105-130.

• Working paper version of journal article

“Incentives, Communication, and Payment Instruments” (with John A. Weinberg). Journal of Monetary Economics 50, no. 2 (March 2003): 433-454.

“Hired Hooves: Transactions in a South Indian Village Factor Market” (with Rolf A. Mueller and Daniel A. Sumner). Australian Journal of Agricultural and Resource Economics 46, no. 2 (June 2002): 233-255.

“Collective Organizations versus Relative Performance Contracts: Inequality, Risk Sharing, and Moral Hazard” (with Robert M. Townsend). Journal of Economic Theory 103, no. 2 (April 2002): 282-310.

“Bank Capital Regulation with and without State-Contingent Penalties” (with David A. Marshall). Carnegie-Rochester Conference Series on Public Policy 54 (June 2001): 139-184.

Issue	Title	Author(s)
Winter 2008	Should Bank Supervisors Disclose Information About Their Banks?	Edward S. Prescott
Fall 2006	Changes in the Size Distribution of U. S. Banks: 1960 - 2005	Hubert P. Janicki Edward S. Prescott
Fall 2005	Technological Design and Moral Hazard	Edward S. Prescott
Fall 2004	Auditing and Bank Capital Regulation	Edward S. Prescott
Fall 2003	Firms, Assignments, and Earnings	Edward S. Prescott
Spring 2002	Can Risk-Based Deposit Insurance Premiums Control Moral Hazard?	Edward S. Prescott
Summer 2001	Regulating Bank Capital Structure to Control Risk	Edward S. Prescott
Fall 1999	Means of Payment, the Unbanked, and EFT '99	Edward S. Prescott Daniel D. Tatar
Winter 1999	A Primer on Moral-Hazard Models	Edward S. Prescott
Fall 1997	Group Lending and Financial Intermediation: An Example	Edward S. Prescott
Winter 1997	The Pre-Commitment Approach in a Model of Regulatory Banking Capital	Edward S. Prescott

Paper	Title	Author(s)
06-12 November 2006	Market-Based Regulation and the Informational Content of Prices	Philip Bond Itay Goldstein Edward S. Prescott
05-11 November 2005	Firms as Clubs in Walrasian Markets with Private Information: Technical Appendix	Edward S. Prescott Robert M. Townsend
04-2 February 2004	State-Contingent Bank Regulation With Unobserved Actions and Unobserved Characteristics	David A. Marshall Edward S. Prescott
03-9 July 2003	Mechanism Design and Assignment Models	Edward S. Prescott Robert M. Townsend
00-11 November 2000	Incentives, Communication, and Payment Instruments	Edward S. Prescott John A. Weinberg
00-8 September 2000	Firms as Clubs in Walrasian Markets with Private Information	Edward S. Prescott Robert M. Townsend
98-6 June 1998	Computing Moral Hazard Problems Using the Dantzig-Wolfe Decomposition Algorithm	Edward S. Prescott
96-2 June 1996	Theory of the Firm: Applied Mechanism Design	Edward S. Prescott Robert M. Townsend

"A Snapshot of Mortgage Conditions with an Emphasis on Subprime Mortgage Performance" (with Scott Frame and Andreas Lehnert). Manuscript, August 2008.

Discussion of Charles M. Kahn and Joao A.C. Santos, "Endogenous Financial Fragility and Prudential Regulation." Presented at NAEFA, New Orleans, January 2008.

Discussion of Morton L. Bech and Rod Garrat, "Illiquidity in the Interbank Payments System following Wide-Scale Disruptions." Presented at "Modern Financial Institutions, Financial Markets, and Systemic Risk" Conference, Atlanta, April 2006.