Nobel economics prize goes to natural experiments pioneers

The trio reshaped empirical work in the economic sciences, said the Royal Swedish Academy

A US-based economist won the Nobel prize for economics on Monday for pioneering research that showed an increase in minimum wage does not lead to less hiring and immigrants do not lower pay for native-born workers, challenging commonly held ideas. Two others shared the award for creating a way to study these types of societal issues.

Canadian-born David Card of the University of California, Berkeley, was awarded one half of the prize for his research on how minimum wage, immigration and education affect the labour market, while the other half was shared by Joshua Angrist from the Massachusetts Institute of Technology