The Fundamental Contribution of Card, Angrist and Imbens to the Economists' Toolbox
"The Nobel Prize to Card, Angrist and Imbens demonstrates the importance that data and accurate quantitative analysis have assumed today in modern economics," explains Francesco Decarolis, professor of economics at Bocconi. In particular, the work of the three scholars has contributed in fundamental ways to the analysis of causal impacts of certain policies and decisions, he underlines. "Card, for example, on impacts of labor market reforms. The merit of these three scholars is to have contributed to the tool box that economists have today to evaluate the impacts of policies and reforms and the applicability of this tool box is very broad.”