Dear NBER Board Members, Researchers, and Staff -
I hope that you will join me in congratulating Research Associates
Tom Sargent and Chris Sims, who today were named as co-recipients of the
2011 Nobel Memorial Prize in Economic Sciences. The prize recognizes
their contributions to "empirical research on cause and effect in the
macroeconomy." The citation notes that "expectations of the private
sector regarding future economic activity and policy influence decisions
about wages, saving and investment. Concurrently, economic policy
decisions are influenced by expectations about developments in the
private sector. The laureates' methods can be applied to identify these
causal relationships and explain the role of expectations." It further
notes that such modeling can help to identify the impact of various
policy actions.
Tom is the Berkley Professor of Economics and Business at NYU, a
Senior Fellow at the Hoover Institution, and a Research Associate in the
NBER's Economic Fluctuations and Growth (EFG) program. Chris is the
Harold H. Helm '20 Professor of Economics and Banking at Princeton, and
a Research Associate in the NBER's EFG and Monetary Economics programs.
Both have been NBER affiliates since the late 1970s.
All best wishes.
Jim
Received on Mon Oct 10 2011 - 07:40:03 EDT
