Nobel Prize in Economics 2021: David Card, Joshua D. Angrist and Guido W. Imbens Wins Economics Nobel

2021 Economics Prize winner: David Card has been awarded the 2021 prize in economic sciences “for his empirical contributions to labour economics.”

Created On: Oct 11, 2021 15:37 IST
Economics Prize 2021: David Card, Joshua D. Angrist and Guido W. Imbens awarded 2021 Prize in Economic Sciences
Economics Prize 2021: David Card, Joshua D. Angrist and Guido W. Imbens awarded 2021 Prize in Economic Sciences

2021 Economics Prize winner: David Card, Joshua D. Angrist and Guido W. Imbens have been jointly awarded the 2021 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. 

David Card has been awarded the 2021 prize in economic sciences for his empirical contributions to labour economics. 

Joshua D. Angrist and Guido W. Imbens have been awarded the 2021 prize in economic sciences “for their methodological contributions to the analysis of causal relationships.”

2021 Economic Prize Winners

The 2021 economic prize winners have provided us with new insights about the labour market and shown what conclusions about cause and effect can be drawn from natural experiments.

One of the winners of the prize, David Card has analysed the labour market effects of minimum wages, immigration and education. He along with late Alan Krueger had used a natural experiment to investigate how increased minimum wages affect employment.

The other two laureates, who were jointly awarded one half of the prize, Joshua Angrist and Guido Imbens showed what conclusions about cause and effect can be drawn from natural experiments. The framework developed by them has been widely adopted by researchers who work with observational data.

Overall, the 2021 economic sciences laureates have revolutionised empirical research in the social sciences and improved the ability of the research community to answer questions of great importance to us all.

First female winner of Economics Prize

Elinor Ostrom was the first woman to be awarded the Sveriges Riksbank Prize in economic sciences for work on human cooperation. 

2019 Prize Economics winner

The 2019 Nobel Prize in Economic Sciences was awarded to colleagues and married couple Esther Duflo and Abhijit Banerjee. They had shared the award with their colleague Michael Kremer.

About Prize in Economic Sciences

The Prize in Economic Sciences was established by Sweden's central bank, Sveriges Riksbank in 1968 in the memory Alfred Nobel, founder of the Nobel Prize.

It is not a nobel prize but is awarded according to the same principles for the Nobel Prizes that have been awarded since 1901. 

The Prize is based on a donation received by the Nobel Foundation from Sveriges Riksbank in 1968 on the bank's 300th anniversary. 

The first Prize in Economic Sciences was awarded to Ragnar Frisch and Jan Tinbergen in 1969. The Prize is awarded by the Royal Swedish Academy of Sciences in Stockholm.

The Sveriges Riksbank Prize in Economic Sciences has been awarded 52 times to 86 laureates between 1969 and 2020. 

Sveriges Riksbank Prize in Economic Sciences Winners List

Sveriges Riksbank Prize in Economic Sciences 2020 - Paul R. Milgrom and Robert B. Wilson

Sveriges Riksbank Prize in Economic Sciences 2019 - Abhijit Banerjee, Esther Duflo and Michael Kremer

Sveriges Riksbank Prize in Economic Sciences 2018 - William D. Nordhaus, Paul M. Romer 

Sveriges Riksbank Prize in Economic Sciences 2017 - Richard H. Thaler 

Sveriges Riksbank Prize in Economic Sciences 2016 - Oliver Hart and Bengt Holmström 

Sveriges Riksbank Prize in Economic Sciences 2015 - Angus Deaton

Sveriges Riksbank Prize in Economic Sciences 2014- Jean Tirole 

Sveriges Riksbank Prize in Economic Sciences 2013 - Eugene F. Fama, Lars Peter Hansen and Robert J. Shiller

Sveriges Riksbank Prize in Economic Sciences 2012 - Alvin E. Roth and Lloyd S. Shapley 

Sveriges Riksbank Prize in Economic Sciences 2011 - Thomas J. Sargent and Christopher A. Sims 

Sveriges Riksbank Prize in Economic Sciences 2010 - Peter A. Diamond, Dale T. Mortensen and Christopher A. Pissarides

Sveriges Riksbank Prize in Economic Sciences 2009 - Elinor Ostrom, Oliver E. Williamson 

Sveriges Riksbank Prize in Economic Sciences 2008 - Paul Krugman

Sveriges Riksbank Prize in Economic Sciences 2007 - Leonid Hurwicz, Eric S. Maskin and Roger B. Myerson 

Sveriges Riksbank Prize in Economic Sciences 2006 - Edmund S. Phelps

Sveriges Riksbank Prize in Economic Sciences 2005 - Robert J. Aumann and Thomas C. Schelling 

Sveriges Riksbank Prize in Economic Sciences 2004 - Finn E. Kydland and Edward C. Prescott 

Sveriges Riksbank Prize in Economic Sciences 2003 - Robert F. Engle III, Clive W.J. Granger

Sveriges Riksbank Prize in Economic Sciences 2002 - Daniel Kahneman, Vernon L. Smith

Sveriges Riksbank Prize in Economic Sciences 2001 - George A. Akerlof, A. Michael Spence and Joseph E. Stiglitz

Sveriges Riksbank Prize in Economic Sciences 2000 - James J. Heckman, Daniel L. McFadden

Image Source: Nobel Prize/ Twitter

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