The Nobel Prize for Economics has been awarded to two US academics, Thomas J. Sargent and Christopher Sims. They have been chosen for “their empirical research on cause and effect in the macroeconomy.”
Both professors have studied how economic policy, such as raising interest rates or cutting taxes, affects macroeconomic variables such as GDP and inflation.
Thomas J. Sargent is a professor of economics at New York University.
Christopher Sims is a professor of economics and banking at Princeton University.
More information can be found on the Nobel Prize organization’s web page.