Professor Kydland received the Nobel Prize for his work on business cycles and macroeconomic policy. His innovative research with his colleague Edward Prescott on the causes of economic fluctuations has shifted the perspective to technology and other shocks as the driving forces. Their work on macroeconomic decision making has established the importance of credibility and political feasibility in monetary and fiscal policy. Dr. Kydland will discuss the role of government by reviewing the similar but different policies and paths taken by Ireland and Argentina as they each struggled to move from deep recession back to economic growth. The lessons learned are relevant to us in N.E. Ohio.

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