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A theory is appropriate as long as it fits into the fact; when a theory doesn't fit in the fact, it's wise to walk with the fact.

Tuesday, October 11, 2011

Nobel Prize in Economics 2011

The Nobel Prize 2011 in Economics was awarded jointly to Thomas J. Sargent (Professor in Economics at New York University, New York, USA) and Christopher A. Sims (Professor in Economics at Princeton University, Princeton, USA"for their empirical research on cause and effect in the macroeconomy." They are well-deserved and congratulations to them. 

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