The Nobel Prize Committee's decision to award the Nobel Prize in Economic Sciences to Professor Claudia Goldin is a big win for women economists and&nbsp;economic historians. She is only the third woman -- and the first solo winner -- to win to this honour and economic historians have seldom been considered for the prize, which was established in 1969.

Breaking the glass ceiling, however, is not new for Goldin. She was also the first woman to secure a tenured track at Harvard University's prestigious economics department.

But beyond the usual headlines, Goldin's work on women's participation in the labour force across history is pathbreaking - to say the least. &nbsp;

Goldin began her academic journey in the transformative 1970s, at the height of the feminist movement, when the role of women in the economy was rapidly changing.

In her 1998 essay "The Economist as Detective", she recalls how her lifelong passion, which ultimately awarded her the Economics Nobel, began: "Women were in the data when young and single and often when widowed. But their stories were faintly heard after they married, for they were often not producing goods and services."

As her doctoral guide, University of Chicago's Robert Fogel played a key role in Goldin's early academic career. The 1993 winner of the Economics Nobel was instrumental in drawing her into the field of economic history.

Goldin's 1995 paper, "Cliometrics and the Nobel", is a tribute to Fogel as well as a chronicle of economic history. "They (Fogel &amp; North - the co-winner) are distinctive, because for them economic history is not a handmaiden of economics but a distinct field of scholarship," Goldin wrote arguing that Fogel formalised economic history "in a manner similar to the injection of mathematical models and statistics into the rest of economics".

But what makes Goldin's work special is her ability to see labour and gender through the prism of economic history. In doing so, Goldin has given the world, what the Nobel Prize Committee rightly states, "the first comprehensive account of women’s earnings and labour market participation through the centuries".

While it is difficult to sum up Goldin's work in a few paragraphs, three of her research papers give us enough insights into her work.

Perhaps, the Harvard professor's most famous research paper is "The power of the pill", which traces the influence of contraceptives on women's work life. The paper argues that "the pill" granted reproductive autonomy to women, boosting their educational and career freedoms.

Another important work, "The quiet revolution", postulates how women have increasingly committed themselves to higher education and professional careers by delaying marriage and motherhood. The study also notes how more and more women entered the fields of medicine, law and management from 1970s onward, while the number of women teachers, librarians and nurses began to fell.

But her most consequential research has been on gender pay gap. Her 2014 paper, "A Grand Gender Convergence: Its Last Chapter", talks about how the gender wage gap is less about human capital differences but more about labor market rewarding long work hours and penalising flexibility.

One common theme in all her research work is the meticulous use of historical records -- she has collected over 200 years of data from the US -- and quantitative economic methods to understand the past and make sense of the present.

“I have always thought of myself as a detective. The detective always believes there is a way of finding the answer," she told the Nobel Prize Committee after her win. Goldin, who once dreamt of being an archeologist, has always had a knack for investigation. Archeology's loss has turned out to be economics' gain.

Goldin has used her "detective" skills to unearth economic truths, dispel myths, and make the world a more gender-sensitive place.

The Nobel Prize Committee's decision to award the Nobel Prize in Economic Sciences to Professor Claudia Goldin is a big win for women economists and economic historians.

The Nobel Prize Committee's decision to award the Nobel Prize in Economic Sciences to Professor Claudia Goldin is a big win for women economists and economic historians. She is only the third woman -- and the first solo winner -- to win to this honour and economic historians have seldom been considered for the prize, which was established in 1969. Breaking the glass ceiling, however, is not new for Goldin. She was also the first woman to secure a tenured track at Harvard University's prestigious economics department. But beyond the usual headlines, Goldin's work on women's participation in the labour force across history is pathbreaking - to say the least. Goldin began her academic journey in the transformative 1970s, at the height of the feminist movement, when the role of women in the economy was rapidly changing. In her 1998 essay "The Economist as Detective", she recalls how her lifelong passion, which ultimately awarded her the Economics Nobel, began: "Women were in the data when young and single and often when widowed. But their stories were faintly heard after they married, for they were often not producing goods and services." As her doctoral guide, University of Chicago's Robert Fogel played a key role in Goldin's early academic career. The 1993 winner of the Economics Nobel was instrumental in drawing her into the field of economic history. Goldin's 1995 paper, "Cliometrics and the Nobel", is a tribute to Fogel as well as a chronicle of economic history. "They (Fogel & North - the co-winner) are distinctive, because for them economic history is not a handmaiden of economics but a distinct field of scholarship," Goldin wrote arguing that Fogel formalised economic history "in a manner similar to the injection of mathematical models and statistics into the rest of economics". But what makes Goldin's work special is her ability to see labour and gender through the prism of economic history. In doing so, Goldin has given the world, what the Nobel Prize Committee rightly states, "the first comprehensive account of women’s earnings and labour market participation through the centuries". While it is difficult to sum up Goldin's work in a few paragraphs, three of her research papers give us enough insights into her work. Perhaps, the Harvard professor's most famous research paper is "The power of the pill", which traces the influence of contraceptives on women's work life. The paper argues that "the pill" granted reproductive autonomy to women, boosting their educational and career freedoms. Another important work, "The quiet revolution", postulates how women have increasingly committed themselves to higher education and professional careers by delaying marriage and motherhood. The study also notes how more and more women entered the fields of medicine, law and management from 1970s onward, while the number of women teachers, librarians and nurses began to fell. But her most consequential research has been on gender pay gap. Her 2014 paper, "A Grand Gender Convergence: Its Last Chapter", talks about how the gender wage gap is less about human capital differences but more about labor market rewarding long work hours and penalising flexibility. One common theme in all her research work is the meticulous use of historical records -- she has collected over 200 years of data from the US -- and quantitative economic methods to understand the past and make sense of the present. “I have always thought of myself as a detective. The detective always believes there is a way of finding the answer," she told the Nobel Prize Committee after her win. Goldin, who once dreamt of being an archeologist, has always had a knack for investigation. Archeology's loss has turned out to be economics' gain. Goldin has used her "detective" skills to unearth economic truths, dispel myths, and make the world a more gender-sensitive place.

Claudia Goldin: A 'detective' who won the 2023 Nobel Prize in Economics 

Harvard University's&nbsp;Professor Claudia Goldin has been honoured with the Nobel Prize in Economics for 2023, as announced by the Royal Swedish Academy of Sciences.

This esteemed recognition, officially known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was awarded to Goldin in acknowledgment of her extensive research contributions to the understanding of women's roles and outcomes in the labor market.

The Royal Swedish Academy of Sciences commended Goldin's groundbreaking work, stating that she has significantly advanced the world's&nbsp;comprehension of women's labour market results.

Goldin becomes the 55th laureate of this prestigious award and only the third woman, after&nbsp;Elinor Ostrom&nbsp;in 2009 and Esther Duflo in 2019, to receive this honour since its establishment in 1969.

According to a Moneycontrol report, the Academy highlighted Goldin's remarkable contributions, emphasising her meticulous examination of historical data and the presentation of new and unexpected insights.

Her research, in the words of the Nobel committee,&nbsp;deepened our insights into the factors influencing women's opportunities in the labour market, particularly the impact of marriage and household responsibilities.

Goldin's studies underscore that change in labour market dynamics occurs gradually, as career choices are influenced by expectations that may evolve over time.

Her research has global relevance, with similar patterns observed in numerous countries, offering valuable insights into labour markets of the past, present, and future.

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Harvard University's Professor Claudia Goldin has been honoured with the Nobel Prize in Economics for 2023, as announced by the Royal Swedish Academy of Sciences.

Harvard University's Professor Claudia Goldin has been honoured with the Nobel Prize in Economics for 2023, as announced by the Royal Swedish Academy of Sciences. This esteemed recognition, officially known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was awarded to Goldin in acknowledgment of her extensive research contributions to the understanding of women's roles and outcomes in the labor market. The Royal Swedish Academy of Sciences commended Goldin's groundbreaking work, stating that she has significantly advanced the world's comprehension of women's labour market results. Goldin becomes the 55th laureate of this prestigious award and only the third woman, after Elinor Ostrom in 2009 and Esther Duflo in 2019, to receive this honour since its establishment in 1969. According to a Moneycontrol report, the Academy highlighted Goldin's remarkable contributions, emphasising her meticulous examination of historical data and the presentation of new and unexpected insights. Her research, in the words of the Nobel committee, deepened our insights into the factors influencing women's opportunities in the labour market, particularly the impact of marriage and household responsibilities. Goldin's studies underscore that change in labour market dynamics occurs gradually, as career choices are influenced by expectations that may evolve over time. Her research has global relevance, with similar patterns observed in numerous countries, offering valuable insights into labour markets of the past, present, and future. WATCH WION LIVE HERE

Claudia Goldin awarded Nobel Prize in economics for research on women's labour market impact

A U.S. University is investigating a Nobel laureate over sexual harassment allegations levelled by seven former students but the economist's attorney dismisses the charges as “professional rivalry”.&nbsp;Philip Dybvig, 2022 Nobel Prize laureate for Economics, has been&nbsp;accused of sexually harassing seven former students at Washington University.&nbsp;Dybvig shared this year's Nobel Prize in economics for research into bank failures. 
 
Philip Dybvig, 2022 Nobel Prize laureate for Economics, has been&nbsp;accused of sexual harassment&nbsp;by seven former students at Washington University. Meanwhile, Nobel's Economic Sciences Prize Committee chair said that until conclusion by the university into sexual assault probe, Philip Dybvig is owed "an untarnished celebration" for his achievement during scheduled Nobel Prize ceremony in Norway.&nbsp;

ALSO READ -&nbsp;<a href="https://www.wionews.com/world/ben-bernanke-douglas-diamond-philip-dybvig-win-2022-nobel-prize-in-economics-524002">Ben Bernanke, Douglas Diamond, Philip Dybvig win 2022 Nobel Prize in economics</a>

He has reportedly been questioned in the past several weeks by the Title IX office at Washington University in St. Louis, his lawyer Andrew Miltenberg was quoted as saying by Associated Press.

Miltenberg said the allegations are "factually inaccurate".&nbsp;

Bloomberg reported that it has reviewed emails that show that the Title IX office of Washington University, which handles campus sexual harassment complaints, has reached out to at least three former students since October to interview them about claims. They are among seven former students who have alleged that Dybvig sexually harassed them.

WATCH -&nbsp;<a href="https://www.wionews.com/videos/wion-fineprint-nobel-peace-prize-committee-announces-three-joint-members-523412">WION Fineprint: Nobel Peace Prize committee announces three joint members</a>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/wion-fineprint-nobel-peace-prize-committee-announces-three-joint-members-523412/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Dybvig, fellow US economist Douglas W Diamond and former Federal Reserve Chair Ben Bernanke won the Nobel Prize in economics in October for research into bank failures. This work was built on the findings from the Great Depression and helped shape the US' response to the 2007-2008 financial crisis.&nbsp;

The findings in the early 1980s laid the foundations for regulating financial markets, the Nobel panel had found.

Nobel Committee takes note

Tore Ellingsen, chair of the Nobel's Economic Sciences Prize Committee, told Bloomberg that the Royal Swedish Academy of Sciences has contacted the university to make sure they had a fair process to handle the accusations.

"As long as the university has not determined that Dybvig has done something wrong, I think we owe him an untarnished celebration of his achievement,"&nbsp;Ellingsen was quoted as saying by Bloomberg.

Miltenberg, Dybvig's lawyer said he was suspicious of the timing of the allegations, adding that they surfaced after the award was announced but before the scheduled award ceremony.

"We believe that this is a situation of professional rivalry."

(With inputs from agencies)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

A U.S. University is investigating a Nobel laureate over sexual harassment allegations levelled by seven former students but the economist's attorney dismisses the charges as “professional rivalry”.

A U.S. University is investigating a Nobel laureate over sexual harassment allegations levelled by seven former students but the economist's attorney dismisses the charges as “professional rivalry”. Philip Dybvig, 2022 Nobel Prize laureate for Economics, has been accused of sexually harassing seven former students at Washington University. Dybvig shared this year's Nobel Prize in economics for research into bank failures. Philip Dybvig, 2022 Nobel Prize laureate for Economics, has been accused of sexual harassment by seven former students at Washington University. Meanwhile, Nobel's Economic Sciences Prize Committee chair said that until conclusion by the university into sexual assault probe, Philip Dybvig is owed "an untarnished celebration" for his achievement during scheduled Nobel Prize ceremony in Norway. ALSO READ - Ben Bernanke, Douglas Diamond, Philip Dybvig win 2022 Nobel Prize in economics He has reportedly been questioned in the past several weeks by the Title IX office at Washington University in St. Louis, his lawyer Andrew Miltenberg was quoted as saying by Associated Press. Miltenberg said the allegations are "factually inaccurate". Bloomberg reported that it has reviewed emails that show that the Title IX office of Washington University, which handles campus sexual harassment complaints, has reached out to at least three former students since October to interview them about claims. They are among seven former students who have alleged that Dybvig sexually harassed them. WATCH - WION Fineprint: Nobel Peace Prize committee announces three joint members × Dybvig, fellow US economist Douglas W Diamond and former Federal Reserve Chair Ben Bernanke won the Nobel Prize in economics in October for research into bank failures. This work was built on the findings from the Great Depression and helped shape the US' response to the 2007-2008 financial crisis. The findings in the early 1980s laid the foundations for regulating financial markets, the Nobel panel had found. Nobel Committee takes note Tore Ellingsen, chair of the Nobel's Economic Sciences Prize Committee, told Bloomberg that the Royal Swedish Academy of Sciences has contacted the university to make sure they had a fair process to handle the accusations. "As long as the university has not determined that Dybvig has done something wrong, I think we owe him an untarnished celebration of his achievement," Ellingsen was quoted as saying by Bloomberg. Miltenberg, Dybvig's lawyer said he was suspicious of the timing of the allegations, adding that they surfaced after the award was announced but before the scheduled award ceremony. "We believe that this is a situation of professional rivalry." (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Nobel laureate economist faces investigation into sexual harassment allegations

Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig were awarded the 2022 Nobel Prize in economics. The trio won the prestigious award for their research on banks and&nbsp;financial crises.&nbsp;

The award is officially called the 'Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.'&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/north-korea-claims-recent-missile-tests-were-tactical-nuclear-drills-523871">North Korea's missile tests include 'tactical nuclear' drills, overseen by Kim</a>

"This year’s laureates in the Economic Sciences...&nbsp;have significantly improved our understanding of the role of banks in the economy, particularly during financial crises. An important finding in their research is why avoiding bank collapses is vital."&nbsp;

"Modern banking research clarifies why we have banks, how to make them less vulnerable in crises and how bank collapses exacerbate financial crises. The foundations of this research were laid by Ben Bernanke, Douglas Diamond, and Philip Dybvig in the early 1980s. Their analyses have been of great practical importance in regulating financial markets and dealing with financial crises," the official statement from the Nobel Committee stated.&nbsp;&nbsp;

The official ceremony will take place in Stockholm, Sweden on December 10 where the laureates will receive their awards along with a diploma and a prize amount of 10 million Swedish krona ($914,447).&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
BREAKING NEWS: 
The Royal Swedish Academy of Sciences has decided to award the 2022 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig “for research on banks and financial crises.”<a href="https://twitter.com/hashtag/NobelPrize?src=hash&amp;ref_src=twsrc%5Etfw">#NobelPrize</a> <a href="https://t.co/cW0sLFh2sj">pic.twitter.com/cW0sLFh2sj</a>
— The Nobel Prize (@NobelPrize) <a href="https://twitter.com/NobelPrize/status/1579408493211422721?ref_src=twsrc%5Etfw">October 10, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Bernanke previously won the 2009 Time Person of the Year award for his work with the Federal Reserve when it comes to the late-2000s financial crisis. His tenure as the chairman lasted from 2006 to 2014.&nbsp;

In 2021, the Nobel Prize in economics was given to David Card “for his empirical contributions to labour economics” and the duo of Joshua D. Angrist and Guido W. Imbens "for their methodological contributions to the analysis of causal relationships." &nbsp;

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig were awarded the 2022 Nobel Prize in economics. The trio won the prestigious award for their research on banks and financial crises.

Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig were awarded the 2022 Nobel Prize in economics. The trio won the prestigious award for their research on banks and financial crises. The award is officially called the 'Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.' Also read | North Korea's missile tests include 'tactical nuclear' drills, overseen by Kim "This year’s laureates in the Economic Sciences... have significantly improved our understanding of the role of banks in the economy, particularly during financial crises. An important finding in their research is why avoiding bank collapses is vital." "Modern banking research clarifies why we have banks, how to make them less vulnerable in crises and how bank collapses exacerbate financial crises. The foundations of this research were laid by Ben Bernanke, Douglas Diamond, and Philip Dybvig in the early 1980s. Their analyses have been of great practical importance in regulating financial markets and dealing with financial crises," the official statement from the Nobel Committee stated. The official ceremony will take place in Stockholm, Sweden on December 10 where the laureates will receive their awards along with a diploma and a prize amount of 10 million Swedish krona ($914,447). BREAKING NEWS: The Royal Swedish Academy of Sciences has decided to award the 2022 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig “for research on banks and financial crises.”#NobelPrize pic.twitter.com/cW0sLFh2sj — The Nobel Prize (@NobelPrize) October 10, 2022 × Bernanke previously won the 2009 Time Person of the Year award for his work with the Federal Reserve when it comes to the late-2000s financial crisis. His tenure as the chairman lasted from 2006 to 2014. In 2021, the Nobel Prize in economics was given to David Card “for his empirical contributions to labour economics” and the duo of Joshua D. Angrist and Guido W. Imbens "for their methodological contributions to the analysis of causal relationships."

Ben Bernanke, Douglas Diamond, Philip Dybvig win 2022 Nobel Prize in economics

This year's Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel or the Nobel Economics Prize has been awarded one half to David Card and the other half jointly to Joshua D. Angrist and Guido W. Imbens.

According to the Nobel committee's statement, this year’s Laureates were awarded for providing "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."&nbsp;

Also read | <a href="https://www.wionews.com/world/nobel-peace-prize-awarded-to-journalists-maria-ressa-and-dmitry-muratov-419104">Nobel Peace Prize awarded to journalists Maria Ressa and Dmitry Muratov</a>

<img alt="Nobel Economics prize winners" data-entity-type="file" data-entity-uuid="e26e3dfe-1d08-4450-b61b-c18094eaf3c5" src="//cdn.wionews.com/sites/default/files/inline-images/FBaPbXDXEAELDGQ.jpeg" />

(Image: The Nobel Prize/Twitter)

Also read | <a href="https://www.wionews.com/science/us-scientists-david-julius-ardem-patapoutian-win-nobel-prize-in-medicine-for-research-about-temperature-and-touch-418138">US scientists David Julius, Ardem Patapoutian win Nobel prize in medicine for research about temperature and touch</a>

Half of the 10-million-kronor ($1.1 million, one million euro) prize went to David Card, from Canada, who is a Professor of Economics at the University of California, Berkeley, USA. His work focuses on the effects of minimum wages, immigration, and education on the labour market.

The other half went jointly to Joshua D. Angrist, 61, an American, the Ford Professor of Economics, Massachusetts Institute of Technology, Cambridge, USA and Guido W. Imbens, 58, from the Netherlands, the Applied Econometrics Professor and Professor of Economics, Stanford University, USA, "for their methodological contributions to the analysis of causal relationships."

They demonstrated how precise cause and effect conclusions can be.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
BREAKING NEWS: 
The 2021 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded with one half to David Card and the other half jointly to Joshua D. Angrist and Guido W. Imbens.<a href="https://twitter.com/hashtag/NobelPrize?src=hash&amp;ref_src=twsrc%5Etfw">#NobelPrize</a> <a href="https://t.co/nkMjWai4Gn">pic.twitter.com/nkMjWai4Gn</a>
— The Nobel Prize (@NobelPrize) <a href="https://twitter.com/NobelPrize/status/1447502041467793408?ref_src=twsrc%5Etfw">October 11, 2021</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Paul Milgrom and Robert Wilson received the award last year for their work on auction theories and the invention of new auction formats.

Interestingly, Nobel Economics Prize is the only Nobel prize not originally included in Nobel's 1895 will. It was established in 1968 to commemorate the 300th anniversary of the Swedish central bank.&nbsp;&nbsp;

Watch | Novelist Abdulrazak Gurnah wins Nobel prize 2021 for literature

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/novelist-abdulrazak-gurnah-wins-nobel-prize-2021-for-literature-419013/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

This year's Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel or the Nobel Economics Prize has been awarded one half to David Card and the other half jointly to Joshua D.

This year's Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel or the Nobel Economics Prize has been awarded one half to David Card and the other half jointly to Joshua D. Angrist and Guido W. Imbens. According to the Nobel committee's statement, this year’s Laureates were awarded for providing "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." Also read | Nobel Peace Prize awarded to journalists Maria Ressa and Dmitry Muratov (Image: The Nobel Prize/Twitter) Also read | US scientists David Julius, Ardem Patapoutian win Nobel prize in medicine for research about temperature and touch Half of the 10-million-kronor ($1.1 million, one million euro) prize went to David Card, from Canada, who is a Professor of Economics at the University of California, Berkeley, USA. His work focuses on the effects of minimum wages, immigration, and education on the labour market. The other half went jointly to Joshua D. Angrist, 61, an American, the Ford Professor of Economics, Massachusetts Institute of Technology, Cambridge, USA and Guido W. Imbens, 58, from the Netherlands, the Applied Econometrics Professor and Professor of Economics, Stanford University, USA, "for their methodological contributions to the analysis of causal relationships." They demonstrated how precise cause and effect conclusions can be. BREAKING NEWS: The 2021 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded with one half to David Card and the other half jointly to Joshua D. Angrist and Guido W. Imbens.#NobelPrize pic.twitter.com/nkMjWai4Gn — The Nobel Prize (@NobelPrize) October 11, 2021 × Paul Milgrom and Robert Wilson received the award last year for their work on auction theories and the invention of new auction formats. Interestingly, Nobel Economics Prize is the only Nobel prize not originally included in Nobel's 1895 will. It was established in 1968 to commemorate the 300th anniversary of the Swedish central bank. Watch | Novelist Abdulrazak Gurnah wins Nobel prize 2021 for literature

Nobel Economics Prize awarded to  David Card, Joshua Angrist  and Guido Imbens