ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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The Nobel for Poverty, Not Inequality

Angus Deaton, professor at Princeton University, has been awarded the 2015 Nobel Prize in Economics for his econometric work in three fields: the estimation of demand systems, the use of microeconomic data in estimating aggregate consumption, especially his innovation of “pseudo panels” based on cross-section data, and his use of household consumption survey data in estimating poverty.

The emphasis on empirical work is both welcome and long overdue.

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