Explaining the Economy: Economic Summit

Christopher A Sims

Nobel Prize winner in economics Christopher Sims will speak at Princeton Regional Chamber’s Economic Summit on Thursday, February 27, at 1 p.m. He shared the 2011 prize with Thomas J. Sargent for “empirical research on cause and effect in the macroeconomy.”   Chamber members can register for $75 for the afternoon, which also includes economic updates and panel discussions, plus munchies and music — all at MCCC’s  Conference Center.

Sims (and I am quoting from Wikipedia) confirmed the theories of monetarists like Milton Friedman that shifts in the money supply affect inflation. However, he also showed that causality went both ways. Variables like interest rates and inflation also led to changes in the money supply.[10

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