The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2006 to:
Edmund Phelps, Columbia University, NY, USA "for his analysis of intertemporal tradeoffs in macroeconomic policy".
His work has deepened our understanding of the relation between short-run and long-run effects of economic policy. These contributions have had a decisive impact on research as well as policy.
Read more on the Royal Swedish Academy of Sciences website, see link below.