Since January, the U.S. economy has been hit by a series of external shocks that brought a modest recovery nearly to a halt. The slowdown, however, may have been under way even before the shocks took place.
Two professors from U.S. universities shared the Nobel Prize in economics. Thomas Sargent of New York University, and Christopher Sims of Princeton were announced Monday as the winners. The two are sharing the prize for their research into policy tools and their effects on the economy.
Americans Thomas Sargent of New York University and Christopher Sims of Princeton University have won the Nobel prize in economics. In awarding the $1.5 million prize, the Royal Swedish Academy of Sciences cited the researchers "for their empirical research on cause and effect in the macroeconomy."
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