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The Nobel for Poverty, Not Inequality
Angus Deaton, professor at Princeton University, has been awarded the 2015 Nobel Prize in Economics for his econometric work in three fields: the estimation of demand systems, the use of microeconomic data in estimating aggregate consumption, especially his innovation of “pseudo panels” based on cross-section data, and his use of household consumption survey data in estimating poverty.
The emphasis on empirical work is both welcome and long overdue.
Angus Deaton, professor at Princeton University, has been awarded the 2015 Nobel Prize in Economics for his econometric work in three fields: the estimation of demand systems, the use of microeconomic data in estimating aggregate consumption, especially his innovation of “pseudo panels” based on cross-section data, and his use of household consumption survey data in estimating poverty.
The emphasis on empirical work is both welcome and long overdue.
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