NYT Profile of Sargent and Sims

The NYT has an interesting profile of the 2011 Nobel prizewinners here.

2 replies on “NYT Profile of Sargent and Sims”

Yes, interesting article.

This from towards the end (page 4):

“In a prescient paper [linked on the website] more than a decade ago, Mr. Sims warned of disaster to come in the euro zone if a new central bank wasn’t accompanied by a unified fiscal authority. To avoid disaster now, he says, the European Central Bank must show a willingness “to act as a lender of last resort” in Europe. If that happens, he says, markets may be able to stabilize long enough for Europeans to study a long “menu” of accompanying fiscal and political arrangements.”

And more topical bits towards the end.

given the dismal failure of many Euro states to work towards the Maastricht goals, we now must work and finish on the “unified fiscal authority” first.

getting back to “the days when all the Democrats believed in balanced budgets.”

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