Christopher A. Sims
Encyclopedia
Christopher Albert "Chris" Sims (born October 21, 1942) is an econometrician and macroeconomist. He is currently the Harold B. Helms Professor of Economics and Banking at Princeton University
. Together with Thomas Sargent, he won the Nobel Memorial Prize in Economic Sciences
in 2011. The award cited their "empirical research on cause and effect in the macroeconomy".
Sims earned his A.B. in mathematics from Harvard University
magna cum laude in 1963 and his PhD in Economics from Harvard in 1968. He has held teaching positions at Harvard, University of Minnesota
, Yale University
and, since 1999, Princeton. Sims is a Fellow of the Econometric Society
(since 1974), a member of the American Academy of Arts and Sciences
(since 1988) and a member of the National Academy of Sciences
(since 1989). In 1995 he was the president of the Econometric Society. He will be the President-Elect of the American Economic Association
in 2011 and then the President of the American Economic Association
in 2012.
Sims 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, and contributed to the development of Bayes estimator
s for vector autoregression.
He also helped develop the fiscal theory of the price level
and the theory of rational inattention.
Princeton University
Princeton University is a private research university located in Princeton, New Jersey, United States. The school is one of the eight universities of the Ivy League, and is one of the nine Colonial Colleges founded before the American Revolution....
. Together with Thomas Sargent, he won the Nobel Memorial Prize in Economic Sciences
Nobel Memorial Prize in Economic Sciences
The Nobel Memorial Prize in Economic Sciences, commonly referred to as the Nobel Prize in Economics, but officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel , is an award for outstanding contributions to the field of economics, generally regarded as one of the...
in 2011. The award cited their "empirical research on cause and effect in the macroeconomy".
Sims earned his A.B. in mathematics from Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
magna cum laude in 1963 and his PhD in Economics from Harvard in 1968. He has held teaching positions at Harvard, University of Minnesota
University of Minnesota
The University of Minnesota, Twin Cities is a public research university located in Minneapolis and St. Paul, Minnesota, United States. It is the oldest and largest part of the University of Minnesota system and has the fourth-largest main campus student body in the United States, with 52,557...
, Yale University
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
and, since 1999, Princeton. Sims is a Fellow of the Econometric Society
Econometric Society
The Econometric Society is an international society for the advancement of economic theory in its relation with statistics and mathematics. It was founded on December 29, 1930 at the Stalton Hotel in Cleveland, Ohio....
(since 1974), a member of the American Academy of Arts and Sciences
American Academy of Arts and Sciences
The American Academy of Arts and Sciences is an independent policy research center that conducts multidisciplinary studies of complex and emerging problems. The Academy’s elected members are leaders in the academic disciplines, the arts, business, and public affairs.James Bowdoin, John Adams, and...
(since 1988) and a member of the National Academy of Sciences
United States National Academy of Sciences
The National Academy of Sciences is a corporation in the United States whose members serve pro bono as "advisers to the nation on science, engineering, and medicine." As a national academy, new members of the organization are elected annually by current members, based on their distinguished and...
(since 1989). In 1995 he was the president of the Econometric Society. He will be the President-Elect of the American Economic Association
American Economic Association
The American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
in 2011 and then the President of the American Economic Association
American Economic Association
The American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
in 2012.
Sims published numerous important papers in his areas of research: econometrics
Econometrics
Econometrics has been defined as "the application of mathematics and statistical methods to economic data" and described as the branch of economics "that aims to give empirical content to economic relations." More precisely, it is "the quantitative analysis of actual economic phenomena based on...
and macroeconomic theory and policy. Among other things, he was one of the main promoters of the use of vector autoregression
Vector autoregression
Vector autoregression is a statistical model used to capture the linear interdependencies among multiple time series. VAR models generalize the univariate autoregression models. All the variables in a VAR are treated symmetrically; each variable has an equation explaining its evolution based on...
in empirical macroeconomics, and contributed to the development of Bayes estimator
Bayes estimator
In estimation theory and decision theory, a Bayes estimator or a Bayes action is an estimator or decision rule that minimizes the posterior expected value of a loss function . Equivalently, it maximizes the posterior expectation of a utility function...
s for vector autoregression.
He also helped develop the fiscal theory of the price level
Fiscal theory of the price level
The fiscal theory of the price level is the idea that government fiscal policy affects the price level: for the price level to be stable , government finances must be sustainable: they must run a balanced budget over the course of the business cycle, meaning they must not run a structural...
and the theory of rational inattention.