The Nobel Prize in Economic Sciences 2021 announced

• The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2021 with one half to David Card (University of California, Berkeley, USA) “for his empirical contributions to labour economics”. 

• The other half jointly to Joshua Angrist (Massachusetts Institute of Technology, Cambridge, USA) and Guido Imbens (Stanford University, USA) “for their methodological contributions to the analysis of causal relationships”.

• This year’s Laureates – David Card, Joshua Angrist and Guido Imbens – have provided us with new insights about the labour market and shown what conclusions about cause and effect can be drawn from natural experiments. Their approach has spread to other fields and revolutionised empirical research.