3 US-based economists receive economics Nobel Prize

STOCKHOLM (AP) — Three U.S-based economists have won the 2021 Nobel prize for economics for pioneering research on the labor market impacts of minimum wage, immigration and education, and for creating the scientific framework to allow conclusions to be drawn from such studies that can’t use traditional methodology. Monday’s winners were David Card of the University of California at Berkeley; Joshua Angrist from the Massachusetts Institute of Technology; and Guido Imbens from Stanford University. Unlike the other Nobel prizes, the economics award wasn’t established in the will of Alfred Nobel. It was set up by the Swedish central bank in his memory in 1968, with the first winner selected a year later.