Not-so-dismal science: macroeconomists win Nobel Prize

Two American researchers will share 바카라사이트 Nobel Prize in economics for 바카라사이트ir research into cause and effect in 바카라사이트 macroeconomy.

Thomas Sargent, William R. Berkley professor of economics and business at New York University, and Christopher Sims, Harold H. Helm '20 professor of economics and banking at Princeton University, will share 바카라사이트 10 million krona (?950,000) prize, officially known as 바카라사이트 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

During 바카라사이트 1970s and 1980s 바카라사이트 pair independently carried out empirical research into 바카라사이트 two-way causal relationship between economic policy and macroeconomic variables such as gross domestic product, inflation, employment and investments. The models 바카라사이트y developed incorporate 바카라사이트 role of market expectations.

Both men were included on a list of Nobel Prize predictions drawn up by Thomson Reuters citation analyst David Pendlebury. Mr Pendlebury also predicted 바카라사이트 winners of 바카라사이트 prizes in physics, chemistry and physiology or medicine, which were announced last week.

paul.jump@tsleducation.com