Nobel laureates in economics; From the study of employment to the effect of migration on wages

The winners of the Nobel Prize in Economics were officially announced on Monday (October 11th) by the Nobel Committee in Stockholm, Sweden, according to Deutsche Welle. Recipients of the award include David Card, Joshua Ingrest and Guido Imbens, all of whom work at US research centers.

All three researchers worked in the field of labor market economics, dealing with “cause-and-effect relationships” in this market; For example, they examined the cause-and-effect relationship between migration and its impact on wages, as well as employment levels in a country.

Explaining the Nobel Prize in Economics to the three researchers, Nobel Committee Secretary-General Goran Hanson said: “No one really knows what the employment situation would be like if wages were lower, as well as wages.

Half of the prize money goes to David Card. Explaining the decision, the secretary general of the Nobel Committee said that knife research in the field of labor market has made him worthy of receiving this award. Kard was born in Canada and has worked in the United States for many years.

The other half of the 2021 Nobel Prize in Economics will be awarded to two other researchers. Angrist is an American citizen, and Imbens, a Dutch-American citizen, received the award for his research in the analysis of cause-and-effect relationships in economics.

The Nobel Prize in Economics is the only prize not envisaged in Alfred Nobel’s will. The prize was added to the Nobel Prize in the 1960s, and in the nearly sixty years since its annual award, most of its winners have been either American or resident.

The Nobel Prize in Economics, along with other Nobel Prizes, will be awarded to the winners on December 10.