Predictions - Nobel in Economics 2010

Alberto Alesina

Nathaniel Ropes Professor of Political Economics, Department of Economics, Harvard University, Cambridge, MA USA
Why: for theoretical and empirical studies on the relationship between politics and macroeconomics, and specifically for research on politico-economic cycle

Nobuhiro Kiyotaki
Professor of Economics, Department of Economics, Princeton University, Princeton NJ USA
Why: for formulation of the Kiyotaki-Moore model, which describes how small shocks to an economy may lead to a cycle of lower output resulting from a decline in collateral values that creates a restrictive credit environment

John H. Moore
George Watson’s and Daniel Stewart’s Professor of Political Economics, University of Edinburgh, Edinburgh, Scotland, and Professor of Economics, Department of Economics, London School of Economics, London, England
Why: for formulation of the Kiyotaki-Moore model, which describes how small shocks to an economy may lead to a cycle of lower output resulting from a decline in collateral values that creates a restrictive credit environment

Kevin M. Murphy
George J. Stigler Distinguished Service Professor of Economics, University of Chicago Booth School of Business, Chicago, IL USA, and Senior Fellow, Hoover Institution, Stanford CA USA
Why: for pioneering empirical research in social economics, including wage inequality and labor demand, unemployment, addiction, and the economic return of investment in medical research, among other topics