Good news out of Princeton this week as The Nobel Memorial Prize in Economic Sciences is awarded to Princeton University Professor Christopher Sims and Princeton Visiting Professor (with a day job at NYU) Thomas Sargent.
Princeton announced the prize winners at a press conference on Monday night. The two professors independently studied monetary policies and their effect on the economy. Eventually, they started working together and corroborated their independent studies with larger and more in-depth studies together. More specifically, their research looks at the “causal relationship between economic policy and different macroeconomic variables such as GDP (gross domestic product), inflation, employment and investments.”
Whatever they research, even though it seems pretty esoteric, knowing what monetary policies do to the economy seems more important right now then ever so we’re happy to have them in New Jersey!
From Princeton.edu: Princeton’s Sims wins Nobel in economics with visiting professor Sargent.
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