Prasad is a former Chief of the Financial Studies Division in the International Monetary Fund’s Research Department and was also the head of the IMF’s China division.  He served as the co-editor of the journal IMF Staff Papers, was on the editorial board of Finance & Development and was the founding editor of the quarterly IMF Research Bulletin. He is also a Research Associate at the National Bureau of Economic Research and a Research Fellow at IZA (Institute for the Study of Labor, Bonn).
His research covers many areas including labor economics, business cycles, and open economy macroeconomics. He has testified before the United States Senate Committee on Finance and the United States House Committee on Financial Services (both on China), and his research has been cited in the U.S. Congressional Record. He is now also one of the two Lead Academics for the India country programme at the International Growth Centre. His lengthy publication record includes articles in many collective volumes as well as top academic journals such as the American Economic Review, Brookings Papers on Economic Activity, The Economic Journal, Journal of Development Economics, Journal of Economic Perspectives, Journal of International Economics, Journal of Monetary Economics, Review of Economics and Statistics.
- Prasad's professor page at Cornell University
- Prasad's expert page at the Brookings Institution
- Alan Beattie (2011-05-15). "Crisis threatens European role at IMF". The Financial Times. Retrieved 2011-05-16.
- IMF Staff Papers, a journal of the IMF
- Finance & Development, a quarterly magazine of the IMF
- IMF Research Bulletin, an online quarterly bulletin
- Prasad's author page at NBER
- Prasad's fellow page at IZA
- Testimony before the USCC on China’s Role in the Origins of and Response to the Global Recession
- Modernizing China's Growth Paradigm
- Brookings Papers on Economic Activity
- Identifying the Common Component of International Economic Fluctuations: A New Approach
- A Pragmatic Approach to Capital Account Liberalization