Why Christopher Sims won the Nobel Prize?

In October 2011, Christopher Sims of Princeton University shared the Nobel Prize for economics with Thomas Sargent of New York University “for their empirical research on cause and effect in the macroeconomy”. This column by one of Professor Sims’ former students – now a distinguished professor – discusses the importance of his work.

Why Christopher Sims won the Nobel Prize?

FISCAL POLICY AND PUBLIC DEBT DYNAMICS IN INDONESIA

This paper investigates the sustainability of the Indonesian fiscal policy by examining the responses of the government primary balance to variations of the debt-to-GDP ratio. Using quarterly data from 1998:1 to 2010:4 the results have indicated that the government primary balance has systematically responded to changes in the debt-to-GDP ratio, suggesting that the fiscal policy can be considered sustainable during the period of analysis.(Rudi Kurniawan).

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2011

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2011 was awarded jointly to Thomas J. Sargent and Christopher A. Sims “for their empirical research on cause and effect in the macroeconomy”

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2011

Mr Keynes and the moderns

Mr Keynes and the moderns

Keynes’ General Theory is 75 years old. In this column, Paul Krugman argues that many of its insights and lessons are still relevant today, but many have been forgotten. A broad swath of macroeconomists and policymakers are applying old fallacies to today’s crisis. As the nostrums being applied by the “pain caucus” are visibly failing, Keynesian ideas may yet make a comeback.

Understanding Public debt Limit

Learning issues on public debt limit from the case of US:

• Understanding the Federal Debt Limit
• Reaching the Debt Limit: Background and Potential Effects on Government Operations.pdf

Gustav Mahler: in memoriam

On this day in 1911, late in the evening, Gustav Mahler died. So this is the 100th anniversary of his death. Let’s appreciate this: Mahler’s Symphony No 5, 4th movement.

Claire de Lune (Debussy)

Click here: Claire de Lune (Debussy) on guitar by John Williams & Julian Bream. A very beautiful interpretation!