And the winners are...

The 2004 Nobel Prize in Economics has been awarded to Finn Kydland (Carnegie-Mellon and the University of California, Santa Barbara) and Edward Prescott (Arizona State University and the Federal Reserve Bank of Minneapolis) "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles." For a detailed explanation of their contribution, click here. Sorry, no one submitted either economist as their forecast for my bonus question.