Christopher A. Sims, 83, Dies; Won Nobel for Modeling Economic Policy
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He and Thomas J. Sargent shared the prize in 2011 for devising statistical tools to help guide economic policymakers.
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Dr. Sims was also a leader among economists working in an area known as the fiscal theory of the price level. These economists focus on the risk that central bankers and other policymakers will work at cross purposes. For instance, efforts by central bankers to lower inflation by adjusting interest rates can be undermined if the government runs huge budget deficits that will eventually devalue the currency.
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