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Nobel prize given to three US-based economists

Nobel prize given to three US-based economists

Fox News
Monday, October 11, 2021 1:00 PM GMT

A U.S.-based economist won the Nobel prize for economics Monday for pioneering research that showed an increase in minimum wage does not lead to less hiring and immigrants do not lower pay for native-born workers, challenging commonly held ideas. Two others shared the award for creating a way to study these types of societal issues.

The Royal Swedish Academy of Sciences said the three have "completely reshaped empirical work in the economic sciences." 

 

"Card’s studies of core questions for society and Angrist and Imbens’ methodological contributions have shown that natural experiments are a rich source of knowledge," said Peter Fredriksson, chair of the Economic Sciences Committee. "Their research has substantially improved our ability to answer key causal questions, which has been of great benefit for society." 

Read full story on Fox News
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