Prime Minister Justin Trudeau congratulated Canadian economist Dr. David Card for winning the Nobel Prize in Economic Sciences.
“Today, I join Canadians and the international economic community in congratulating Dr. David Card on being awarded this year’s Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, also known as the Nobel Prize in Economic Sciences, for his important contributions to labour economics,” the Prime Minister said in a statement.
The statement further added “On behalf of all Canadians, I congratulate Dr. Card for this remarkable achievement, and thank him for helping us to better understand the economy, as we work to build a strong economic recovery that benefits everyone for a better future at home and around the world.”
The Nobel Prize Foundation issued a statement earlier today announcing that the Royal Swedish Academy of Sciences has decided to award the 2021 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel with one half to David Card “for his empirical contributions to labour economics” and the other half jointly to Joshua D. Angrist and Guido W. Imbens “for their methodological contributions to the analysis of causal relationships.”
The statement further added that this year’s laureates – David Card, Joshua Angrist and Guido Imbens – have provided us with new insights about the labour market and shown what conclusions about cause and effect can be drawn from natural experiments. Their approach has spread to other fields and revolutionised empirical research.
Born in Guelph, Ontario, Dr. Card completed his undergraduate studies at Queen’s University and obtained his PhD at Princeton University. He is currently a Professor of Economics at the University of California, Berkeley, where his research focuses on immigration, inequality, and gender and race in the labour market.
Dr. Card is being recognized for his pioneering work on minimum wages, immigration, and education, which have considerably improved our understanding of the labour market over the last few decades. His recent work studied the effects of increasing the minimum wage on employment and challenged conventional wisdom.