Nobel Prize in Economics

This year's Nobel Prize in Economics American economists won by Thomas Sargent and Christopher Sims for empirical research on the causes and consequences in macroeconomics. In Stockholm, the committee announced the Nobel Prize in Swedish Academy of Sciences.

Sargent and Sims have developed methods to determine how the gross domestic product and inflation affected by the temporary rise in interest rates or vice versa tax cuts. Also investigated what happens when the central bank permanently changes the inflation target, or when the government modifies its plans for a balanced budget .

Laureates of the price of a diploma, medal and a check for ten million Swedish crowns to take over the official ceremony of the 10th December, the anniversary of the death of Swedish inventor Alfred Nobel.Based on his legacy are valued individuals who contributed to peace, scientists and writers.

Nobel Prize in economics

Nobel Prize in economics is not one of the original price for Nobel in his testament of 1895. Folded it up in 1968 to commemorate the Nobel Swedish central bank Sveriges Riksbank.