The Royal Swedish Academy of Sciences announced on October 11 that it will award the 2021 Nobel Prize in Economics to three American economists.
3 economists David Gicader, W. Shuain and D. This honor is in recognition of their contributions in the field of econometrics.
The Nobel Prize in Economics focuses on the field of econometrics
Economists David Card and Guido W. Inbens shared the 2021 Nobel Prize in Economics. They have made great achievements in the field of econometrics.
The Royal Swedish Academy of Sciences stated in the award speech that many major issues in social science involve causation, and these questions are usually difficult to answer. The research of David Card, Joshua D. Angrist, and Guido W. Inbens, among others, provides new insights into the labor market and shows how causality can be derived from natural experiments The conclusion of the relationship. Their method has been extended to other fields and completely changed the empirical study of .
Among them,David Card analyzed the impact of minimum wage, immigration and education on the labor market through natural experimentation. Joshua D. Angrist and Guido W. Inbens showed that the conclusions of causality can be drawn from natural experiments, and their research framework has been widely used.
"I suddenly received a call to win the award late at night, and I had already shared the news with my friends the first time." Guido W. Inbens said in an interview after learning of the award, He sent a message to young people that if they are interested in economic research, the field of economic research is very broad and there are many interesting research questions.
It is understood that the wife of Guido W. Inbens, Susan Ashe, is also an extremely good economist and the first to win the "Little Nobel Prize". The female economist of the Clark Award has made important contributions to the field of dynamic mechanism design.
Fudan University Financial Research Center director Sun Lijian told reporters that, unlike mathematics and physics research, economic phenomena are very complex, and economic researchers cannot perfectly replicate economic phenomena in the laboratory because of its impact. Factors come from many aspects, and it is even difficult to distinguish which cause and effect. Therefore, it is very important to capture economic phenomena and analyze the reasons and results behind them to extract economic laws. The Nobel Prize winners in economics have provided a good research method of economic phenomena from the perspective of micro-econometrics.
Regarding why the Nobel Prize in Economics pays attention to the field of econometrics, Sun Lijian believes that in the face of the complex economic environment, it is very important to choose the right economic theory for research. Any macroeconomic phenomenon needs to be based on a clear understanding of microeconomic phenomena, otherwise you will get wrong perceptions or even make wrong economic decisions. This also reminds macroeconomic researchers that they need to pay attention to microeconomic phenomena and study them in depth.
"span 3span": China is an interesting country
", once offered short-term courses at Jinan University. He once said that he is very happy to see that some of the things he is doing can also be valued in China, and he hopes to see more people care about education research.
"China is a very interesting country-it has been constantly developing and changing over the past few years. Many studies should also be based on China's system, China's school education, and labor market." Joshua · D. Angrist said in an interview earlier.
"Soothe the nerves" will also show photos and videos that combine measurement and kung fu in the classroom. When referring to his relationship with Chinese Kung Fu, he said that he would watch Kung Fu (TV series) and Star Trek (Start Trek) when he returned home from school when he was a child, and he was very attracted by Kung Fu in the drama.
Joshua D. Angrist believes that "life is a journey, we need to choose. Everyone has his own destiny, but also free will" is A universal value is also applicable to econometrics: you are a bit like a traveler with a destination y0, but you can also choose the destination as y1, but only if you actually go to one of the destinations, you In order to observe the scenery there. As a scientist, you can study the ways in which different people make decisions. (Integrated Interface News, Shanghai Securities News)
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