Nobel Prize in Economics to Three US-Based Economists

The Royal Swedish Academy of Sciences awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2021 — often incorrectly referred to as the Nobel Prize in Economics — to three US-based economists.

A U.S. based Canadian David Card, Israeli-American Joshua Angrist and Dutch-American Guido Imbens won the Nobel Economics Prize for providing “new insights about the labour market” and showing “what conclusions about cause and effect can be drawn from natural experiments”.

Half of the prize went to Card, a professor at the University of California, Berkeley “for his empirical contributions to labour economics.” Card’s work has focused on labour market effects of minimum wages, immigration and education.

The other half went jointly to Angrist, a professor at the Massachusetts Institute of Technology (MIT), and Imbens, a professor at Stanford, “for their methodological contributions to the analysis of a causal relationship.