American, Briton win Nobel in Economic Sciences

From: Deseret News (Salt Lake City) | Date: October 8, 2003| Author: Matt Moore AP business | Copyright information

STOCKHOLM, Sweden -- American Robert F. Engle and Briton Clive W.J. Granger won the 2003 Nobel Memorial Prize in Economic Sciences today for their use of statistical methods for economic time series.

The research is used to gather data for chronological observations or for estimating relationships and testing hypotheses from economic theory, the Royal Swedish Academy of Sciences said.

Their findings are important because on financial markets, random fluctuations and volatility ca...

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