Three United States-based economists namely, David Card, Joshua D Angrist and Guido W Imbens have been conferred the “Nobel prize in Economics 2021”.
Nobel Prize in Economics 2021
They were conferred with the prize for their work on “use of natural experiments” on the impact of minimum wage, immigration and education on the labour markets.
One half of the prize was awarded to David Card, while the other half of the prize is shared by Joshua Angrist and Guido Imbens.
In the year 2021, David Card has been conferred the award “for his empirical contributions to labour economics”. He analysed the effects of minimum wages, immigration and education on the labour market.
Angrist and Imbens have been awarded “for their methodological contributions to the analysis of causal relationships”. Both of them developed a research framework which have been adopted by many researchers who work with observational data.
