The Prize in Economic Sciences 2011
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. SargentNew York University, New York, NY, USA and Christopher A. SimsPrinceton University, Princeton, NJ, USA “for their empirical research on cause and effect in the macroeconomy”.Cause and effect in the macroeconomyHow are GDP and inflation affected by a temporary increase in the interest rateor a tax cut? What happens if a central bank makes a permanent change in itsinflation target or a government modifies its
