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Americans Sargent, Sims share economics Nobel

Americans Sargent, Sims share economics Nobel

10 October 2011 14:44 (UTC +04:00)

Baku - APA-Economics. Americans Thomas Sargent and Christopher Sims won the Nobel economics prize on Monday for research that sheds light on the cause-and-effect relationship between the economy and policy instruments such as interest rates and government spending.

Sargent and Sims â€” both 68 â€” carried out their research independently in the 1970s and ’80s, but it is highly relevant today as world governments and central banks seek ways to steer their economies away from another recession.

The Royal Swedish Academy of Sciences said the winners have developed methods for answering questions such as how economic growth and inflation are affected by a temporary increase in the interest rate or a tax cut.

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