Economics Nobel for research on wages, jobs
- The Nobel prize for economics was awarded to economist David Card for research that showed an increase in minimum wage does not lead to less hiring.
- Two others shared the award for developing ways to study these types of societal issues.
- Unlike the other Nobel prizes, the economics award wasn't established in the will of Alfred Nobel but by the Swedish central bank in his memory in 1968, with the first winner selected a year later.
- It is the last prize announced each year, and is formally known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.
- The 2021 economic sciences laureates 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.