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The Prize in Economic Sciences 2012 This year’s Prize to Lloyd Shapley and Alvin Roth extends from abstract theory developed in the 1960s, over empirical work in the 1980s, to ongoing efforts to find practical solutions to real-world problems. Examples include the assignment of new doctors to hospitals, students to schools, and human organs for…

The Prize in Economic Sciences 2011 How are GDP and inflation affected by a temporary increase in the interest rate or a tax cut? What happens if a central bank makes a permanent change in its inflation target or a government modifies its objective for budgetary balance? This year’s Laureates in economic sciences, Thomas J.…

The Prize in Economic Sciences 2010 Why are so many people unemployed at the same time that there are a large number of job openings? How can economic policy affect unemployment? This year’s Laureates have developed a theory which can be used to answer these questions. This theory is also applicable to markets other than…

Economic governance: the organization of cooperation Traditionally, economic theory has by and large been a theory of markets or, more precisely, about marketprices. However,there are at least two reasons why economic science should extend beyond price theory. First, markets do not function properly unless suitable contracts can be formulated and enforced. Hence, we need to…

The Prize in Economic Sciences 2008 This year’s Laureate is awarded the Prize for his research on international trade and economic geography. By having shown the effects of economies of scale on trade patterns and on the location of economic activity, his ideas have given rise to an extensive reorientation of the research on these…

The Prize in Economic Sciences 2006 Full employment, stable prices and rapid growth are central goals of economic policy. But policy always faces difficult goal conflicts. How should inflation and unemployment be balanced against each other? What tradeoff should be made between the consumption of current and future generations? Edmund S. Phelps has advanced our…

The Prize in Economic Sciences 2005 Robert Aumann and Thomas Schelling have contributed to enhancing our understanding of conflict and cooperation. They have achieved this by extending and applying game theory – a method used to analyze strategic interaction among different agents. Their work has transformed the social sciences far beyond the boundaries of economics.…

Swedish Populärvetenskaplig information 11 oktober 2004 Finn Kydland och Edward Prescott har gjort banbrytande insatser inom det forskningsområde som kallas makroekonomi. Pristagarna har på ett nydanande sätt analyserat den ekonomiska politikens utformning och konjunkturens drivkrafter. Deras bidrag har inte bara stöpt om ekonomisk forskning utan också fått stort inflytande på hur praktisk ekonomisk politik –…

English Information for the Public Statistical Methods for Economic Time Series When estimating relationships, making forecasts and testing hypotheses from economic theory, researchers frequently use data in the form of time series – chronological sequences of observations – to study macroeconomic variables. Consumption in an economy may thus depend on total labor income and wealth,…