Nancy Stokey

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Nancy Stokey
Born Nancy Laura Stokey
(1950-05-08) May 8, 1950 (age 68)
United States
Alma mater University of Pennsylvania
Harvard University
Occupation Economist
Spouse(s) Robert Lucas
Nancy Stokey
Kenneth Arrow[1]

Nancy Laura Stokey (born May 8, 1950) is the Frederick Henry Prince Distinguished Service Professor of Economics at the University of Chicago.[2] She earned her BA in economics from the University of Pennsylvania in 1972 and her PhD from Harvard University in 1978, under the direction of thesis advisor Kenneth Arrow.


Stokey has published significant research in the areas of economic growth and development, as well as papers on economic history ("A Quantitative Model of the British Industrial Revolution: 1780–1850," 2001)[3] and optimal control ("Dynamic Programming with Homogeneous Functions," 1998, co-authored with Fernando Alvarez). She is the co-developer, with Paul Milgrom, of the no-trade theorem, a counter-intuitive development of the premises of financial economics. She co-authored with Robert Lucas, Jr. and Edward Prescott a book on Recursive Methods in Economic Dynamics that is widely used by research economists and graduate students.


Stokey is a member of the National Academy of Sciences and was a vice-president of the American Economic Association between 1996–1997. She was also a member of the expert panel convened to produce a Copenhagen Consensus on some of the leading scientific/developmental problems of the 21st century. She has held editorial positions with top journals as Econometrica, The Journal of Economic Growth, Games and Economic Behavior and The Journal of Economic Theory.

She is married to Nobel Prize in Economics laureate Robert Lucas, Jr..

Selected publications[edit]

  • Stokey, Nancy, Robert Lucas and Edward Prescott (1989). Recursive Methods in Economic Dynamics. Harvard University Press. ISBN 0-674-75096-9.
  • Stokey, Nancy & Paul Milgrom (1982). "Information, Trade and Common Knowledge". Journal of Economic Theory. 26: 17–27. doi:10.1016/0022-0531(82)90046-1.


  1. ^ PROFILE: Nancy Stokey.(Accessed September 2016)
  2. ^ "Interview with Nancy L. Stokey | Federal Reserve Bank of Minneapolis". Retrieved 2017-01-25.
  3. ^ Stokey, N. L. (2001). "A quantitative model of the British industrial revolution, 1780–1850". Carnegie-Rochester Conference Series on Public Policy. 55: 55. doi:10.1016/S0167-2231(01)80003-8.

External links[edit]