DAVID CARD | JOSHUA D. ANGRIST | GUIDO W. IMBENS
“For empirical contributions to labor economics;” and “for their methodological contributions to the analysis of causal relationships.”
Understanding the complex – and oftentimes counterintuitive – cause and effect relationships between changing aspects of our society and economy is a critical need for policy makers and other leaders. The collective discoveries of Card, Angrist and Imbens, along with contributions by Card's colleague Alan Krueger who died in 2019, showed how cause and effect can be accurately determined when it is not feasible or ethical to conduct a controlled experiment. They used "natural experiments" – large-scale situations arising in real life – to precisely understand how one thing causes another, such as how income affects health, how wages affect unemployment and how investments in schools affect the future earnings of students. Their methods have been widely adopted and applied by researchers studying a range of important social and economic issues. NSF is proud to have supported all three winners and their groundbreaking work.
NSF-Supported Economics Laureates