Economics: Empirical Microeconomics
Joshua D. Angrist, Massachusetts Institute of Technology
David E. Card, University of California Berkeley
Alan B. Krueger, Princeton University Complicated systems like economics, with endless variables and interacting contingencies, are a scientist’s nightmare, but the field of empirical microeconomics takes an experimentalist’s view of targeted economic questions. The method involves control data to test the effect of an intervention; being able to say something robust requires selecting just the right comparative system, or collecting just the right type of data. Findings from these citation laureates has shown that raising the minimum wage does not lower employment, and requiring school attendance increases income later in life. Image: An empirical approach is often useful in economic studies like those involving global development. (Jeffrey Marlow)
David E. Card, University of California Berkeley
Alan B. Krueger, Princeton University Complicated systems like economics, with endless variables and interacting contingencies, are a scientist’s nightmare, but the field of empirical microeconomics takes an experimentalist’s view of targeted economic questions. The method involves control data to test the effect of an intervention; being able to say something robust requires selecting just the right comparative system, or collecting just the right type of data. Findings from these citation laureates has shown that raising the minimum wage does not lower employment, and requiring school attendance increases income later in life. Image: An empirical approach is often useful in economic studies like those involving global development. (Jeffrey Marlow)