Nobel Economics Prize Awarded to Card, Angrist, Imbens for Labor Market Insights

"This year’s Laureates ... have provided us with new insights about the labor market and shown what conclusions about cause and effect can be drawn from natural experiments.

Stockholm: The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was awarded one half to David Card “for his empirical contributions to labor economics” and the other half jointly to Joshua Angrist and Guido Imbens ” for their methodological contributions to the analysis of causal relationships,” the Royal Swedish Academy of Sciences announced on Monday.

“This year’s Laureates … have provided us with new insights about the labor market and shown what conclusions about cause and effect can be drawn from natural experiments.

Their approach has spread to other fields and revolutionized empirical research,” the academy said in a statement.

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