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Alvin Roth and Lloyd Shapley Win Nobel in Economic Science
New York Times 10/15/2012
Sargent's work has significance today because it shows the limits of monetary policy in the absence of other policies and actions, including fiscal policies. Monetary policy by lowering rates cannot work permanently to lower unemployment because at some point investors expect higher returns on their capital and people expect inflation.
Grouped Articles
Americans Sargent, Sims Win Nobel Economics Prize
Wall Street Journal 10/10/2011
2 American Professors Awarded Nobel in Economic Science
New York Times 10/10/2011
Alvin Roth and Lloyd Shapley Win Nobel in Economic Science
New York Times 10/15/2012
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