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Edward S. Prescott

Senior Economic and Policy Advisor
Areas of Expertise contract theory, financial intermediation, financial history, and organizational theory
Department Research
  • BA,
  • Economics,
  • Swarthmore College,
  • 1988
  • PhD,
  • Economics,
  • University of Chicago,
  • 1995

Edward “Ned” S. Prescott is a senior economic and policy advisor in the Research Department of the Federal Reserve Bank of Cleveland. His research focuses on banking, financial intermediation, and contract theory. His research has appeared in the Journal of Political Economy, the Review of Economic Studies, the Review of Financial Studies, and other publications. Recently, he has worked on the lack of new bank entry and how that has contributed to the decline in the number of banks.

Before joining the Bank in 2015, Dr. Prescott was an economist and vice president at the Federal Reserve Bank of Richmond. In 2004, he was a visiting scholar at CEMFI. He has also taught at the University of Virginia. Presently, he serves as an associate editor for Economic Theory and the Journal of Financial Services Research.

Dr. Prescott obtained his BA in economics from Swarthmore College and his PhD in economics from University of Chicago.