Date: 5th October 2016
Author:
Type: In the news
Economists Eugene F. Fama, Lars Peter Hansen and Robert J. Shiller are this year’s Nobel Prize winners for economics. The Swedish Riksbank in memory of Alfred Nobel decided to award the Nobel Prize to the three economists “for their empirical analysis of asset prices”. The economists’ research showed that while it is difficult to predict asset prices in the short term, prices can be predicted in broad terms over longer periods. Their work, that resulted in the emergence of stock index funds, highlights the importance of the current macroeconomic debate surrounding the crisis.
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