Two Americans share 2011 Nobel Prize for Economics

Stockholm, Oct 10: Two American economic professors, Thomas Sargent and Christopher Sims won the 2011 Nobel Prize for Economics, announced on Monday, Sept 10 by Staffan Normark, Permanent Secretary of the Royal Swedish Academy of Sciences in Stockholm.

"The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2011 to Thomas J. Sargent from New York University of USA and Christopher A. Sims from Princeton University of USA for their empirical research on cause and effect in the macroeconomy," said Normark.

The Nobel prize committee said that this year's Laureates in Economics Science have developed a method for answering several questions regarding the causal relationship between economic policy and different macroeconomic variables such as GDP, inflation, employment and investments.

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