2021 Nobel Memorial Prize in Economic Sciences

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The 2021 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Card (left) "for his empirical contributions to labour economics", and Angrist (centre) and Imbens (right) "for their methodological contributions to the analysis of causal relationships."
Date
  • 11 October 2021
    (announcement)
  • 10 December 2021
    (ceremony)
Location
SEK (2021)[1]
First awarded1969
WebsiteOfficial website
← 2020 · Nobel Memorial Prize in Economic Sciences · 2022 →

The 2021

Guido W. Imbens (born 1962) "for their methodological contributions to the analysis of causal relationships."[2][3][4][5] The Nobel Committee stated their reason behind the decision, saying:

"This year's Laureates – David Card, Joshua Angrist and Guido Imbens – have shown that natural experiments can be used to answer central questions for society, such as how minimum wages and immigration affect the labour market. They have also clarified exactly which conclusions about cause and effect can be drawn using this research approach. Together, they have revolutionised empirical research in the economic sciences."[6]

Card's key contributions on economics were the

natural experiments on labour economics (including difference in differences). Angrist and Imbens' contributions were on the local average treatment effect and natural experiments to estimate causal links.[3][4]

Laureates

David Card

Main article: David Card

David Card was born in

The American Economic Review.[10] He was the recipient of the 1995 John Bates Clark Medal and the 2014 BBVA Foundation Frontiers of Knowledge Award in Economics, Finance and Management with Richard Blundell
"for their contributions to empirical microeconomics."

Joshua Angrist

Main article: Joshua Angrist

Angrist was born to a Jewish family in

Rajk László College for Advanced Studies
in Budapest.

Guido Imbens

Main article: Guido Imbens

Guido Wilhelmus Imbens was born on 3 September 1963 in Geldrop, the Netherlands.[18][19] In high school Imbens was introduced to the work of Dutch economist Jan Tinbergen. Influenced by Tinbergen's work, Imbens chose to study economics at Erasmus University Rotterdam, where Tinbergen had taught and established a program in economics.[20] Imbens graduated with a Candidate's degree in Econometrics from Erasmus University Rotterdam in 1983. He subsequently obtained an M.Sc. degree with distinction in Economics and Econometrics from the University of Hull in Kingston upon Hull, UK in 1986. In 1986, one of Imbens' mentors at the University of Hull, Anthony Lancaster, moved to Brown University in Providence, Rhode Island. Imbens followed Lancaster to Brown to pursue further graduate and doctoral studies.[21] Imbens received an A.M. and a Ph.D. degree in economics from Brown in 1989 and 1991, respectively.[22][23]

References

  1. ^ "The Nobel Prize amounts". Nobelprize.org. Archived from the original on 20 July 2018. Retrieved 20 August 2022.
  2. ^ The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2021 nobelprize.org
  3. ^
    New York Times
    . Retrieved 20 August 2022.
  4. ^ a b Larry Elliott (11 October 2021). "Nobel economics prize jointly awarded to labour market expert David Card". The Guardian. Retrieved 20 August 2022.
  5. ^ Greg Rosalsky (12 October 2021). "A Nobel Prize for a revolution in economics". NPR. Retrieved 20 August 2022.
  6. ^ The Prize in Economic Sciences 2021 – Press Release nobelprize.org
  7. ^ "David Card – Facts". Nobel Prize. Archived from the original on 11 October 2021. Retrieved 20 August 2021.
  8. ^ Kagan, Sam; Fazel-Zarandi, Mahya (October 11, 2021). "Card GS '83, Angrist GS '89 win Nobel Prize in Economics". Daily Princetonian. Retrieved October 11, 2021.
  9. ProQuest 303177959
    .
  10. ^ a b "Curriculum Vita ‐ David Card" (PDF). January 2018. Retrieved December 29, 2019.
  11. ^ "From biking to band practice to skipping Hebrew school, Nobel Prize winner Josh Angrist remembers childhood in Pittsburgh | Pittsburgh Post-Gazette".
  12. ^ "Family celebrates Nobel Prize winner from Pittsburgh". October 11, 2021.
  13. ^ "Maimonides in the classroom: The research that led Angrist to the Nobel". Times of Israel. October 11, 2021. Retrieved October 11, 2021.
  14. ProQuest 303804663
    .
  15. JSTOR 2006669
    .
  16. ^ "Curriculum Vitae: Joshua D.Angrist". Retrieved June 10, 2011.
  17. ^ "Joshhua D. Angrist (01/2021)". MIT Department of Economics. Archived from the original on 2021-10-11. Retrieved 2022-08-31.
  18. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2021". NobelPrize.org. Retrieved 20 August 2022.
  19. ^ Haegens, Koen (11 October 2021). "Nobelprijs voor 'stille en bescheiden man achterin de zaal' die de slimste vragen stelt". de Volkskrant (in Dutch). Retrieved 11 October 2021.
  20. ^ Imbens, Guido (March 2, 2022). Lemley Lecture: Nobel Prize Winner Guido Imbens. Event occurs at 20:55.
  21. ^ Irel, Corydon; Office, Harvard News (2007-03-15). "Bringing hard science to economics". Harvard Gazette. Archived from the original on 14 August 2021. Retrieved 2021-10-13.
  22. ProQuest 303881903
    .
  23. ^ "Guido Imbens, 1991 Brown Ph.D. recipient, is 2016 – 17 Horace Mann Medal winner". Brown University Department of Economics website. 22 May 2017. Retrieved 11 October 2021.
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