Granger Finn E. Prescott Robert J. Schelling Edmund S. Williamson Peter A. Pissarides Thomas J. Sims Alvin E. Shapley Eugene F. Credit: see original file. Suggest as cover photo Would you like to suggest this photo as the cover photo for this article?
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A Positive Critique. Contributions to Economics. The Journal of Political Economy 89 2 : — Journal of Monetary Economics 5 : — International Economic Review 18 1 : 59— Brookings Papers on Economic Activity 2 : — The Journal of Political Economy 3 : — Rational Expectations and Inflation.
Harper and Row. The Big Problem of Small Change. Princeton University Press. Bounded Rationality in Macroeconomics. Oxford University Press. Description and chapter-preview 1st-page links. The Conquest of American Inflation. Econometrica 76 : 1. Berkley Professor of Economics and Business". National Academy of Sciences. Samuelson Simon Kuznets John R. Meade Herbert A. Simon Theodore W. Klein James Tobin George J. Buchanan Jr. Sharpe Ronald H. Coase Gary S.
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Granger Finn E. Prescott Robert J. Schelling Edmund S. Williamson Peter A. Pissarides Thomas J. Sims Alvin E. Shapley Eugene F. The Reader View of Wikipedia. Christopher Albert Sims born October 21, is an American econometrician and macroeconomist. He is currently the John J. Sims was born in Washington, D.
He has held teaching positions at Harvard, Yale University and, since , Princeton. He spent the longest portion of his career at Princeton University , teaching there from to the present day. Sims currently lives in New Jersey. Sims has published numerous important papers in his areas of research: econometrics and macroeconomic theory and policy. Among other things, he was one of the main promoters of the use of vector autoregression in empirical macroeconomics. However, some of the maintained assumptions in such models have been incorrectly tested Sims, using asymptotic distribution theory since it is infeasible to test over restrictions on model parameters using only 60 observations on time series Sargan, He has also advocated Bayesian statistics , arguing for its power in formulating and evaluating economic policies.
Sims has been an outspoken opponent of the rational expectations revolution in macroeconomics, arguing that it should be thought of as a "cautionary footnote" to econometric policy analysis, rather than "a deep objection to its foundations. He also helped develop the fiscal theory of the price level and the theory of rational inattention.
On October 10, , Christopher A. Sims together with Thomas J. The award cited their "empirical research on cause and effect in the macroeconomy". Translating his work into everyday language, Sims said it provided a technique to assess the direction of causality in central bank monetary policy. It confirmed the theories of monetarists like Milton Friedman that shifts in the money supply affect inflation.
However, it also showed that causality went both ways. Variables like interest rates and inflation also led to changes in the money supply. Copyright The image is from Wikipedia Commons. Wikipedia Page.
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