Sims was born in Washington, D.C., the son of Ruth Bodman (Leiserson), a Democratic politician and daughter of William Morris Leiserson, and Albert Sims, a state department worker.[5] His father was of English and Northern Irish descent, and his mother was of half Estonian Jewish and half English ancestry.[6] His uncle was Yale economist Mark Leiserson.[7] Sims earned his A.B. in mathematics from Harvard Universitymagna cum laude in 1963 and his PhD in Economics from Harvard in 1968 under supervision of Hendrik S. Houthakker.[8] During the 1963–64 academic year, he was a graduate student at the University of California, Berkeley. He has held teaching positions at Harvard, Yale University and, since 1999, Princeton. He spent the longest portion of his career at Princeton University, teaching there from 1999 to the present day.[9][10] Sims is a Fellow of the Econometric Society (since 1974),[11] a member of the American Academy of Arts and Sciences (since 1988), a member of the National Academy of Sciences (since 1989), and a member of the American Philosophical Society (since 2012).[12] In 1995 he was president of the Econometric Society; in 2012, he was president of the American Economic Association. Sims currently lives in New Jersey.
Contributionsedit
Sims has published numerous important papers in his areas of research: econometrics and macroeconomic theory and policy. Among other things, he was one of the main promoters of the use of vector autoregression in empirical macroeconomics. However, some of the maintained assumptions in such models have been incorrectly tested (Sims, 1980) using asymptotic distribution theory since it is infeasible to test over 200 restrictions on model parameters using only 60 observations on time series (Sargan, 1961). He has also advocated Bayesian statistics, arguing for its power in formulating and evaluating economic policies.[13]
Sims has been an outspoken opponent of the rational expectations revolution in macroeconomics, arguing that it should be thought of as a "cautionary footnote" to econometric policy analysis, rather than "a deep objection to its foundations."[14] He has been similarly skeptical of the value of real business cycle models.[15]
On October 10, 2011, Christopher A. Sims together with Thomas J. Sargent was awarded the Nobel Memorial Prize in Economic Sciences. The award cited their "empirical research on cause and effect in the macroeconomy".[16] His Nobel lecture, titled "Statistical Modeling of Monetary Policy and its Effects" was delivered on December 8, 2011.[17]
Translating his work into everyday language, Sims said it provided a technique to assess the direction of causality in central bank monetary policy. It confirmed the theories of monetarists like Milton Friedman that shifts in the money supply affect inflation. However, it also showed that causality went both ways. Variables like interest rates and inflation also led to changes in the money supply.[18]
Further readingedit
Sims, Christopher (1980). "Macroeconomics and reality" (PDF). Econometrica. 48 (1): 1–48. CiteSeerX10.1.1.163.5425. doi:10.2307/1912017. JSTOR 1912017.
Sargan, J.D. (1961). The maximum likelihood estimation of economic relationships with autoregressive residuals. Econometrica, 29, 414-426.
Referencesedit
^. Archived from the original on October 1, 2016. Retrieved September 28, 2016.
^"Christopher A Sims". Thomson Reuters website. Retrieved October 10, 2011.
^"Nobel prize for economics awarded to two Americans". BBC News website. October 10, 2011. Retrieved October 10, 2011.
^"The Prize in Economic Sciences 2011". Nobelprize.org. December 10, 2008. Retrieved October 10, 2011.
^Slotnik, Daniel E. (June 13, 2012). "Ruth Sims, First Woman Elected to Lead Greenwich, Conn., Dies at 92". The New York Times.
^"Christopher A. Sims - Biographical". Nobel Foundation. Retrieved May 31, 2017.
^Fellows of the Econometric Society as of February 2011 December 10, 2008, at the Wayback Machine, Econometric Society, Retrieved October 12, 2011.
^"APS Member History". search.amphilsoc.org. Retrieved March 29, 2021.
^Sims, Christopher A. "The Role of Models and Probabilities in the Monetary Policy Process". Brookings Papers on Economic Activity, 2002, 1-62
^Sims, Christopher A.; Goldfeld, Stephen M.; Sachs, Jeffrey D. (1982). "Policy Analysis with Econometric Models" (PDF). Brookings Papers on Economic Activity. 1982 (1): 107–164. doi:10.2307/2534318. JSTOR 2534318.
christopher, sims, christopher, sims, redirects, here, other, uses, christopher, sims, disambiguation, this, article, uses, bare, urls, which, uninformative, vulnerable, link, please, consider, converting, them, full, citations, ensure, article, remains, verif. Christopher Sims redirects here For other uses see Christopher Sims disambiguation This article uses bare URLs which are uninformative and vulnerable to link rot Please consider converting them to full citations to ensure the article remains verifiable and maintains a consistent citation style Several templates and tools are available to assist in formatting such as reFill documentation and Citation bot documentation September 2022 Learn how and when to remove this template message Christopher Albert Sims born October 21 1942 is an American econometrician and macroeconomist He is currently the John J F Sherrerd 52 University Professor of Economics at Princeton University 2 Together with Thomas Sargent he won the Nobel Memorial Prize in Economic Sciences in 2011 3 The award cited their empirical research on cause and effect in the macroeconomy 4 Christopher A SimsSims in 2011BornChristopher Albert Sims 1942 10 21 October 21 1942 age 81 Washington D C NationalityAmericanAcademic careerInstitutionPrinceton UniversityYale UniversityUniversity of MinnesotaHarvard UniversityFieldMacroeconomicsEconometricsTime seriesAlma materHarvard University AB PhD DoctoraladvisorHendrik S HouthakkerDoctoralstudentsLars Peter HansenHarald Uhlig 1 ContributionsUse of vector autoregressionAwardsNobel Memorial Prize in Economic Sciences 2011 Information at IDEAS RePEc Contents 1 Biography 2 Contributions 3 Nobel Memorial Prize and lecture 4 Further reading 5 References 6 External linksBiography editSims was born in Washington D C the son of Ruth Bodman Leiserson a Democratic politician and daughter of William Morris Leiserson and Albert Sims a state department worker 5 His father was of English and Northern Irish descent and his mother was of half Estonian Jewish and half English ancestry 6 His uncle was Yale economist Mark Leiserson 7 Sims earned his A B in mathematics from Harvard University magna cum laude in 1963 and his PhD in Economics from Harvard in 1968 under supervision of Hendrik S Houthakker 8 During the 1963 64 academic year he was a graduate student at the University of California Berkeley He has held teaching positions at Harvard Yale University and since 1999 Princeton He spent the longest portion of his career at Princeton University teaching there from 1999 to the present day 9 10 Sims is a Fellow of the Econometric Society since 1974 11 a member of the American Academy of Arts and Sciences since 1988 a member of the National Academy of Sciences since 1989 and a member of the American Philosophical Society since 2012 12 In 1995 he was president of the Econometric Society in 2012 he was president of the American Economic Association Sims currently lives in New Jersey Contributions editSims has published numerous important papers in his areas of research econometrics and macroeconomic theory and policy Among other things he was one of the main promoters of the use of vector autoregression in empirical macroeconomics However some of the maintained assumptions in such models have been incorrectly tested Sims 1980 using asymptotic distribution theory since it is infeasible to test over 200 restrictions on model parameters using only 60 observations on time series Sargan 1961 He has also advocated Bayesian statistics arguing for its power in formulating and evaluating economic policies 13 Sims has been an outspoken opponent of the rational expectations revolution in macroeconomics arguing that it should be thought of as a cautionary footnote to econometric policy analysis rather than a deep objection to its foundations 14 He has been similarly skeptical of the value of real business cycle models 15 He also helped develop the fiscal theory of the price level and the theory of rational inattention Nobel Memorial Prize and lecture editOn October 10 2011 Christopher A Sims together with Thomas J Sargent was awarded the Nobel Memorial Prize in Economic Sciences The award cited their empirical research on cause and effect in the macroeconomy 16 His Nobel lecture titled Statistical Modeling of Monetary Policy and its Effects was delivered on December 8 2011 17 Translating his work into everyday language Sims said it provided a technique to assess the direction of causality in central bank monetary policy It confirmed the theories of monetarists like Milton Friedman that shifts in the money supply affect inflation However it also showed that causality went both ways Variables like interest rates and inflation also led to changes in the money supply 18 Further reading editSims Christopher 1980 Macroeconomics and reality PDF Econometrica 48 1 1 48 CiteSeerX 10 1 1 163 5425 doi 10 2307 1912017 JSTOR 1912017 Sargan J D 1961 The maximum likelihood estimation of economic relationships with autoregressive residuals Econometrica 29 414 426 References edit Advantage Financial Harald Uhlig Archived from the original on October 1 2016 Retrieved September 28 2016 Christopher A Sims Thomson Reuters website Retrieved October 10 2011 Nobel prize for economics awarded to two Americans BBC News website October 10 2011 Retrieved October 10 2011 The Prize in Economic Sciences 2011 Nobelprize org December 10 2008 Retrieved October 10 2011 Slotnik Daniel E June 13 2012 Ruth Sims First Woman Elected to Lead Greenwich Conn Dies at 92 The New York Times Christopher A Sims Biographical Nobel Foundation Retrieved May 31 2017 Mark Leiserson Noted international economist http www dictionaryofeconomics com article id pde2012 S000550 CV Christopher A Sims PDF Princeton University Retrieved May 31 2017 Christopher A Sims nobelprize org Fellows of the Econometric Society as of February 2011 Archived December 10 2008 at the Wayback Machine Econometric Society Retrieved October 12 2011 APS Member History search amphilsoc org Retrieved March 29 2021 Sims Christopher A The Role of Models and Probabilities in the Monetary Policy Process Brookings Papers on Economic Activity 2002 1 62 Sims Christopher A Goldfeld Stephen M Sachs Jeffrey D 1982 Policy Analysis with Econometric Models PDF Brookings Papers on Economic Activity 1982 1 107 164 doi 10 2307 2534318 JSTOR 2534318 Sims Christopher A 1996 Macroeconomics and Methodology Journal of Economic Perspectives 10 1 105 120 CiteSeerX 10 1 1 202 8675 doi 10 1257 jep 10 1 105 JSTOR 2138286 The Prize in Economic Sciences 2011 Nobelprize org December 10 2008 Retrieved October 10 2011 http www nobelprize org nobel prizes economics laureates 2011 sims lecture html Sims Christopher A 2011 Statistical Modeling of Monetary Policy and its Effects Nobel lecture Sommer Jeff December 3 2011 Good Morning You re Nobel Laureates New York Times External links edit nbsp Wikimedia Commons has media related to Christopher A Sims Christopher A Sims on Nobelprize org nbsp Sims s biography on the official website of the Nobel Prize Sims s homepage on the Princeton University website Christopher A Sims publications indexed by Google Scholar Christopher A Sims JSTOR AwardsPreceded byPeter A DiamondDale T MortensenChristopher A Pissarides Laureate of the Nobel Memorial Prize in Economics2011 Served alongside Thomas J Sargent Succeeded byAlvin E RothLloyd S ShapleyAcademic officesPreceded byOrley Ashenfelter President of the American Economic Association2012 2013 Succeeded byClaudia Goldin Retrieved from https en wikipedia org w index php title Christopher A Sims amp oldid 1180697698, wikipedia, wiki, book, books, library,
