Saturday, October 16, 2021
Home TRENDING NEWS Nobel Prize in Economics 2021: David Card, Joshua Angrist, Guido Imbens: What...

Nobel Prize in Economics 2021: David Card, Joshua Angrist, Guido Imbens: What won them the 2021 Economics Nobel | World News – Times of India


NEW DELHI: The 2021 Nobel in Economics has been awarded with one half to David Card and the other half jointly to Joshua D. Angrist and Guido W. Imbens.
Officially known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, the names of the winners were announced in Stockholm on Monday by the Royal Swedish Academy of Sciences.

David Card has been awarded the 2021 prize in economic sciences “for his empirical contributions to labour economics,” the official Twitter handle said.
Joshua D Angrist and Guido W Imbens wpn the award “for their methodological contributions to the analysis of causal relationships.”
“The 2021 economic sciences laureates have provided us with new insights about the labour market and shown what conclusions about cause and effect can be drawn from natural experiments. Their approach has spread to other fields and revolutionised empirical research,” the academy further said.

“The winners have demonstrated that many of society’s big questions can be answered. Their solution is to use natural experiments – situations arising in real life that resemble randomised experiments.
“In one example David Card and Alan Krueger (now deceased) used a natural experiment to investigate how increased minimum wages affect employment. Using natural experiments, David Card has analysed the labour market effects of minimum wages, immigration and education,” it added.

The work by the winners has revolutionised empirical research in the social sciences and significantly improved the ability of the research community to answer questions of great importance to us all.
Joshua Angrist and Guido Imbens showed what conclusions about cause and effect can be drawn from natural experiments. The framework developed by them has been widely adopted by researchers who work with observational data, the Academy observed.

David Card is from the University of California at Berkeley; Joshua Angrist from the Massachusetts Institute of Technology; and Guido Imbens is from Stanford University. Card is a Canadian, Angrist a US citizen while Imbens is of Dutch origin.





Source link

RELATED ARTICLES

Myanmar: In race against time, experts collect evidence of rights violations 

Working out of Geneva, there are experts in gender violence and crimes against children; analysts with experience in international justice; specialists in open source evidence; and investigators working with sophisticated information systems.   The team of professionals are formally known as...

Here’s Essex police’s full statement on the killing of David Amess

At least two former UK prime ministers have reacted to news of Conservative Member of Parliament (MP) David Amess's killing Friday.David Cameron, who...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Sikandar Kher: “OTT Has Led To Democratisation Of Our Film Industry”

Sikandar Kher: “OTT Has Led To Democratisation...

Special Ops 1.5 teaser: Prequel series to show origins of Kay Kay Menon’s Himmat Singh. Watch

Director Neeraj Pandey is all set for the release of the new season of action-packed series Special Ops. On Thursday, the makers unveiled the...

Apple Arcade FAQ: What you need to know and complete list of games

Gaming subscription services are all the rage now, but Apple Arcade isn’t quite like Google Stadia or Xbox Live. So if you’ve got...

Recent Comments

G-Translate »