American, British economists get Nobel for study of timing

From: Deseret News (Salt Lake City) | Date: October 9, 2003| Author: Matt Matt Moore Associated Press | Copyright information

STOCKHOLM, Sweden -- American Robert F. Engle and Briton Clive W.J. Granger won the Nobel Memorial Prize in Economic Sciences on Wednesday for their use of statistical methods for studying the timing behind economic developments.

Their research is used to gather data for "time series," such as chronological observations or for estimating relationships and testing hypotheses in economic theory, the Royal Swedish Academy of Sciences said.

"Such time series show the development of (...

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