Nobel Prize in economics awarded to David Card, Joshua Angrist and Guido Imbens
CNN
David Card, Joshua Angrist and Guido Imbens have been awarded the 2021 Nobel Prize in economic sciences for contributions to labor economics and analysis of causal relationships, the Royal Swedish Academy of Sciences announced on Monday.
Card was recognized for groundbreaking work on the market effects of minimum wages, immigration and education. He showed, for example, that increasing the minimum wage does not necessarily lead to fewer jobs.
The other half of the prize was awarded to Angrist and Imbens for demonstrating how precise conclusions about cause and effect can be drawn from natural experiments -— or situations that arise from real life.
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