I would like to offer congratulations, on behalf of myself and the Federal Reserve Bank of Minneapolis, to Thomas Sargent and Christopher Sims, winners of the 2011 Prize in Economic Sciences in Memory of Alfred Nobel. In the 1970s, in separate research, Sargent and Sims developed systematic approaches to distinguishing between cause and effect in macroeconomic data. Now, almost 40 years later, their thinking informs the making of macroeconomic policy around the world. I’m especially proud that much of the work recognized by the prize committee was done at the Federal Reserve Bank of Minneapolis and the University of Minnesota. My predecessors at the Federal Reserve Bank of Minneapolis deliberately fostered a research environment that could give rise to such important work, and this tradition continues today.
Works cited by Nobel Committee for Thomas Sargent and Christopher Sims with ties to the Minneapolis Fed. [pdf]
Research Department Digital Archive - Sargent and Sims Special Collection
Related resources from the Minneapolis Fed
Interview with Thomas Sargent, The Region, September 2010
Interview with Thomas Sargent, The Region, December 1989
The Macroeconomic Causes and Consequences of The French Revolution, The Region, December 1991.
Interview with Christopher Sims, The Region, June 2007
Greater Than the Sum: The Minneapolis Fed and the University of Minnesota in a 30-year partnership, The Region, December 2000