Thomas Sargent was awarded the Nobel Prize in Economics in 2011 together with Christopher A. Sims "for their empirical research on cause and effect in the macro

Thomas Sargent was awarded the Nobel Prize in Economics in 2011 together with Christopher A. Sims "for their empirical research on cause and effect in the macroeconomy" Fellow laureate Krugman: "S and S played a key role in developing methods that let the data speak instead": http://krugman.blogs.nytimes.com/2011/10/10/go-princeton-and-nyu/ http://krugman.blogs.nytimes.com/2011/10/10/go-princeton-and... The models here however aren't econometric, they are for theoretical economics. The Kalman filter can be used for 10001 different things.