The Prize in Economic Sciences 2021
The Royal Swedish Academy of Sciences has announced on 11 October 2021 and decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2021 with one half to David Card, University of California, Berkeley, USA “for his empirical contributions to labor economics” and the other half jointly to Joshua D. Angrist, Massachusetts Institute of Technology, Cambridge, USA Guido W. Imbens, Stanford University, USA “for their methodological contributions to the analysis of causal relationships” This year’s Laureates – David Card, Joshua Angrist and Guido Imbens – have provided us with new insights about the labour market and shown what conclusions about cause and effect can be drawn from natural experiments. Their approach has spread to other fields and revolutionised empirical research.