Dear NBER Board Members, Researchers, and Staff -
I hope that you will join me in congratulating Research Associates Lars
Hansen and Bob Shiller, who today shared the 2013 Nobel Memorial Prize
in Economics with Eugene Fama for their work on "the empirical analysis
of asset prices." The background material that describes the prize
citation
http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/2013/popular-economicsciences2013.pdf
notes the critical role that asset prices play in influencing a wide
range of economic behaviors, and then explains that "Although we do not
yet fully understand how asset prices are determined, the research of
the laureates has revealed a number of important empirical regularities
that are helping us to arrive at better explanations."
Lars is the David Rockefeller Distinguished Service Professor of
Economics at the University of Chicago. He is a research associate in
the NBER's Asset Pricing (AP) and Economic Fluctuations and Growth (EFG)
programs. Bob is the Sterling Professor of Economics at Yale
University, a research associate in the NBER's AP, EFG, and Monetary
Economics programs, and the co-director of the NBER's Behavioral
Economics working group. The third prize recipient, Eugene Fama, is the
Robert McCormick Distinguished Service Professor of Finance at the
University of Chicago Booth School of Business.
All best wishes.
Jim
Received on Mon Oct 14 2013 - 10:36:14 EDT
