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Saturday, January 15, 2011
Friday, January 14, 2011
Thursday, January 13, 2011
Economics
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Noble Award of the year 2011 for Economics
GOLDEN BOYS: Christopher Sims and Thomas Sargent
Noble Award of the year 2011 for Economics
The Nobel prize in economic science was awarded on Monday to Thomas J Sargent at New York University and Christopher A Sims at Princeton University for their research looking at the cause-and-effect relationship between economic policy and the broader economy.
Their work uses statistical analysis to disentangle the question of whether a policy change that happened in the past affected the economy or whether it was made in anticipation of events that policymakers thought would happen later.This research has also helped economists better understand how peoples expectations for policy affect the economy.
Sims said on Monday that his research was relevant for helping countries decide how to respond to the economic stagnation and decimated budgets left by the financial crisis.
The methods that Ive used and that Tom has developed are central for finding our way out of this mess, he said.But asked for specific policy conclusions of his research,he responded,If I had a simple answer,I would have been spreading it around the world.
Sims,68,who is presidentelect of the American economic association,has primarily looked at temporary policy changes,such as a surprise in government finances or a change in the interest rate.For example,his methods have been used to determine whether a central banks decision to raise the interest rate affected inflation or whether bank officials raised the interest rate precisely because they expected that inflation change later on.
The prize committee at the Royal Swedish Academy of Sciences said in a statement that his research has tried to develop a systemic way for distinguishing between unexpected shocks to the economy,such as a change in oil prices or government finances,and expected changes.
His methodology,developed in the 1970s,has been tremendously influential in subsequent decades among all flavors of economists.It helped lend credence to New Keynesianism,the theory that says that the economy can go into recession because there is not enough demand,and has been the basis of important papers by Ben S Bernanke,the Federal Reserve chairman,and Olivier Blanchard,the chief economist at the IMF.Sargent,68,on the other hand,has focused on longer-term structural changes in the economy,such as setting a new inflation target.NYT NEWS SERVICE
Their work uses statistical analysis to disentangle the question of whether a policy change that happened in the past affected the economy or whether it was made in anticipation of events that policymakers thought would happen later.This research has also helped economists better understand how peoples expectations for policy affect the economy.
Sims said on Monday that his research was relevant for helping countries decide how to respond to the economic stagnation and decimated budgets left by the financial crisis.
The methods that Ive used and that Tom has developed are central for finding our way out of this mess, he said.But asked for specific policy conclusions of his research,he responded,If I had a simple answer,I would have been spreading it around the world.
Sims,68,who is presidentelect of the American economic association,has primarily looked at temporary policy changes,such as a surprise in government finances or a change in the interest rate.For example,his methods have been used to determine whether a central banks decision to raise the interest rate affected inflation or whether bank officials raised the interest rate precisely because they expected that inflation change later on.
The prize committee at the Royal Swedish Academy of Sciences said in a statement that his research has tried to develop a systemic way for distinguishing between unexpected shocks to the economy,such as a change in oil prices or government finances,and expected changes.
His methodology,developed in the 1970s,has been tremendously influential in subsequent decades among all flavors of economists.It helped lend credence to New Keynesianism,the theory that says that the economy can go into recession because there is not enough demand,and has been the basis of important papers by Ben S Bernanke,the Federal Reserve chairman,and Olivier Blanchard,the chief economist at the IMF.Sargent,68,on the other hand,has focused on longer-term structural changes in the economy,such as setting a new inflation target.NYT NEWS SERVICE
GOLDEN BOYS: Christopher Sims and Thomas Sargent
Wednesday, January 12, 2011
Tuesday, January 11, 2011
Romance love feelings
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the Dirty Picture bolywood movie
silk smitha one of the indian movie actress acted in all kind of romance and sex movies this movie is based on her real story. see some of the pictures below. the movie starring VIDHYA BALAN
silk smitha one of the indian movie actress acted in all kind of romance and sex movies this movie is based on her real story. see some of the pictures below. the movie starring VIDHYA BALAN
Monday, January 10, 2011
Sunday, January 9, 2011
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