Ei o que diz a Real Academia de Ciências Sueca sobre o prémio “nobel da economia” deste ano:
“The Royal Swedish Academy of Sciences has decided to award The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2011 to
Thomas J. Sargent
New York University, New York, NY, USA andChristopher A. Sims
Princeton University, Princeton, NJ, USA“for their empirical research on cause and effect in the macroeconomy”
Cause and effect in the macroeconomy
How are GDP and inflation affected by a temporary increase in the interest rate or a tax cut? What happens if a central bank makes a permanent change in its inflation target or a government modifies its objective for budgetary balance? This year’s Laureates in economic sciences have developed methods for answering these and many of other questions regarding the causal relationship between economic policy and different macroeconomic variables such as GDP, inflation, employment and investments.