3 US-based economists win Nobel for research on wages, jobs

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STOCKHOLM (AP) — A U.S.-based economist won the Nobel prize in economics Monday for pioneering research that transformed widely held ideas about the labor force, showing how an increase in the minimum wage doesn't hinder hiring and immigrants do not lower pay for native-born workers.
Permanent Secretary of the Royal Swedish Academy of Sciences Goran K Hansson, center, announces the 2021 Nobel prize for economics, flanked by members of the Royal Swedish Academy of Sciences Peter Fredriksson, left, and Eva Mork, during a press conference at the Royal Swedish Academy of Sciences, in Stockholm, Sweden, Monday, Oct. 11, 2021. From left on the screen above are the winners David Card of the University of California at Berkeley; Joshua Angrist from the Massachusetts Institute of Technology; and Guido Imbens from Stanford University. (Claudio Bresciani/TT via AP)

Permanent Secretary of the Royal Swedish Academy of Sciences Goran K Hansson, center, announces the 2021 Nobel prize for economics, flanked by members of the Royal Swedish Academy of Sciences Peter Fredriksson, left, and Eva Mork, during a press conference at the Royal Swedish Academy of Sciences, in Stockholm, Sweden, Monday, Oct. 11, 2021. From left on the screen above are the winners David Card of the University of California at Berkeley; Joshua Angrist from the Massachusetts Institute of Technology; and Guido Imbens from Stanford University. (Claudio Bresciani/TT via AP)

Two others shared the award for developing ways to study these types of societal issues.

Canadian-born David Card of the University of California, Berkeley, was awarded half of the prize for his research on how the minimum wage , immigration and education affect the labor market.

The other half was shared by Joshua Angrist of the Massachusetts Institute of Technology and Dutch-born Guido Imbens of Stanford University for their framework for studying issues that can't rely on traditional scientific methods.

The Royal Swedish Academy of Sciences said the three "completely reshaped empirical work in the economic sciences."

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Together, they helped rapidly expand the use of "natural experiments," or studies based on observing real-world data. Such research made economics more applicable to everyday life,…
Christopher Rugaber, David Mchugh
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