Interview with the 2011 Laureates in Economic Sciences Thomas J. Sargent and Christopher A. Sims, 6 December 2011. The interviewer is Adam Smith, Editorial Director of Nobel Media.
The Laureates describe how computer models help them conduct large-scale economic experiments and disagree on whether people behave rationally in an economy. Christopher A. Sims reveals that economists still don't have models to explain why money is so important in the modern economy. They also discuss why previous models weren't able to predict the current economic crisis.
The 2011 Nobel Laureates met at the Bernadotte Library in Stockholm on 9 December 2011 for the traditional round-table discussion and TV program 'Nobel Minds'. The Laureates discuss issues of global concern, their own research, and their early influences.
Telephone interview with Christopher A. Sims recorded immediately following the announcement of the 2011 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, 10 October 2011. The interviewer is Adam Smith, Editorial Director of Nobel Media.