Thomas Sargent and Chris Sims won the 2011 Nobel Prize in economics.
In a nutshell Sargent won for dynamic learning of economic agents and Sims won for championing vector autoregression and impulse response in econometrics.
Already there has been a lot written, here are the items (in order) that I’ve found that I recommend:
- Tyler Cowen’s Marginal Revolution take on Thomas Sargent, Nobel Laureate
- Economist’s View on Chris Sims’ contributions
- Sargent’s 12 lessons of economics (surely the shortest graduation speech ever)
- The Nobel committee’s technical summary
Professor John Hassler explaining the work for which the prize was given: