Nobel Prize In Economics 2011 Goes To Thomas J. Sargent and Christopher A. Sims10 October, 2011, 19:07. Posted by Zarathustra
Tags: Nobel Prize in Economics
Nobel Prize In Economics 2011 Goes To Thomas J. Sargent of New York University and Christopher A. Sims of Princeton University "for their empirical research on cause and effect in the macroeconomy".
From the press release:
How are GDP and inflation affected by a temporary increase in the interest rate or a tax cut? What happens if a central bank makes a permanent change in its inflation target or a government modifies its objective for budgetary balance? This year’s Laureates in economic sciences have developed methods for answering these and many of other questions regarding the causal relationship between economic policy and different macroeconomic variables such as GDP, inflation, employment and investments.