US duo win Economics Nobel for macroeconomic work

US researchers Thomas Sargent and Christopher Sims won the 2011 Nobel Economics Prize on Monday for their work on macro-economics and government economic policymaking, the Nobel jury said.

This year's laureates "have developed methods for answering ... questions regarding the causal relationship between economic policy and different macro-economic variables, such as GDP, inflation, employment and investments," the jury said. Sargent worked on structural macro-economics, which can be used to analyse permanent changes in economic policy. (AFP)