Tag Archives: Nobel Prize

Nobel awarded to Roth and Shapley: Personal nostalgia

Today, the “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2012” was awarded to Alvin E. Roth and Lloyd S. Shapley “for the theory of stable allocations and the practice of market design”. As always when the Nobel is decided, I realize that I should not be one giving out the prize. Along with many, I try to make clever predictions, which always fail. On the other hand, when the prize is being awarded, I almost always find that the choice is obvious and natural. This year is no exception. I will spare you for my failed prediction(s), but applaud this year’s choice. Roth and Shapley … Continue reading

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Sargent and Sims (2011): LIVE!

This year’s Nobel Prize Lectures in Economic Sciences: “United States Then, Europe Now” (at the nobelprize.org site) Thomas J. Sargent, New York University “Statistical Modeling of Monetary Policy and its Effects” (at the nobelprize.org site) Christopher A. Sims, Princeton University YouTube version of live TV broadcast of everything. Lectures start 10 minutes into the broadcast (with an introduction by Per Krusell):

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Sargent and Sims (2011)

Today, the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (yes, this is the long and formal title for the Nobel in economics), was awarded to Thomas J. Sargent and Christopher A. Sims. The following caption summarizes the motivation: “for their empirical research on cause and effect in the macroeconomy” The longer motivation, and survey of the recipients’ academic contributions, can be found here (pdf 600 Kb). As a macroeconomist, I can only support this choice. These are definitely two of the profession’s “grand old men”, and it is difficult to write a modern paper without citing either of them, or both. Their influence in theoretical and … Continue reading

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