Saturday, October 07, 2006

Nobel Prize in Economics

On Monday (9 October) the winner of this year's Nobel Prize in Economics will be announced. Will it be an econometrician?

Three years ago, Engle and Granger were the last econometricians to receive the prize.

Some people say Eugene Fama could be a winner. His contributions to finance are essential to financial econometrics today.

Other put their money on Paul Krugman, who in my opinion is a clever man, but his contributions to economics are limited. Jagdish Bhagwati is certainly a better candidate.

It is well known that the AEA Clark Medal is a good indicator of future Nobel Prize winners. However the only econometrician on that list who is not too young (like Steven Levitt) is Jerry Hausman of MIT.

Who do you think will win?

1 comment:

Ramesh Krishnan said...

I think Bhagwati is deserving of the Nobel prize. Krugman has had some interesting work, but has become too consumed with politics and populism of late to do any relevant work to advance economic theory.