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Peter Diamond, Christopher Pissarides & Dale Mortensen Win 2010 Nobel Prize in Economics

Posted by Adam Ellis on Oct 11th, 2010 and filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Peter Diamond, Christopher Pissarides, nobel prize economics 2010

2010 Nobel Prize in Economics

The 2010 Nobel Prize awards still have not all been handed out. We now know the winners of the 2010 Nobel Prize in economics. It has been awarded to Peter Diamond, Christopher Pissarides, and Dale Mortensen for work they did related to wage formation, labor market regulation, and efficiency of recruitment.

The Peter Diamond award is probably the most notable, as he has been trying to join the board of the Federal Reserve, but his nomination has been being blocked by Senator Richard Shelby. Shelby apparently does not believe that Diamond is qualified enough for the job. He is quoted as saying, “I do not believe he’s ready to be a member of the Federal Reserve Board. I do not believe that the current environment of uncertainty would benefit from monetary policy decisions made by board members who are learning on the job.”

Diamond is also one of the economists that taught Federal Reserve Chairman Ben Bernanke a lot of what he knows in economics.

The 70-year-old Peter Diamond is known for his analysis of Social Security policy in the United States as well as his work as an advisor to the Advisory Council on Social Security in the 80′s and 90′s. He attended Yale University and obtained his bachelor’s degree in mathematics in 1960. He currently works as a professor at the Massachusetts Institute of Technology.

Christopher Pissarides is a 62-year-old economics professor in London. He was born in the Republic of Cyprus. He won the Nobel Prize in Economics for his contributions to the theory of search frictions and his work in macroeconomics.

Dale Mortensen is a 71-year-old professor at Northwestern University in the United States, and created a study of how workers search for jobs.

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  • http://www.facebook.com/people/Sajjad-Ahmad-Mughal/1805421363 Sajjad Ahmad Mughal

    Nobel Memorial Prize in Economic Sciences,
    The Nobel Memorial Prize in Economic Sciences, commonly referred to as the Nobel Prize in Economics (Swedish: Nobelpriset i ekonomi), is an award for outstanding contributions to the science of economics. It is generally considered one of the most prestigious awards for that science. The official name is the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (Swedish: Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne). It is not one of the Nobel Prizes established by the will of Alfred Nobel in 1895, but is commonly identified with them. The Prize in Economics, as it is referred to by the Nobel Foundation, was established and endowed by Sveriges Riksbank, Sweden’s central bank, during 1968 on the Bank’s 300th anniversary, in memory of Alfred Nobel’s 1895 will. Like the Nobel Laureates in Chemistry and Physics, Laureates in Economics are selected by the Royal Swedish Academy of Sciences, and a Prize Committee similar to the Nobel Committees are used. It was first awarded in 1969 to the Dutch and Norwegian economists Jan Tinbergen and Ragnar Frisch, “for having developed and applied dynamic models for the analysis of economic processes.

    http://profilefacts.blogspot.com/2010/10/nobel-prize-in-economics.html

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