The Sandmo Lecture On Public Policy is an annual event in honour of Professor Agnar Sandmo (1938-2019). The 2025 guest lecturer is Professor David Card, University of California, Berkeley.
David Card is one of the most prominent labour economists and was awarded the Nobel Prize in Economics in 2021. He received the prize for his groundbreaking empirical work in labour economics, where he has used so-called natural experiments to understand how various factors affect employment, wages, and the impact of immigration on the labour market.
One of Card's most influential studies, conducted with the late Alan Krueger, analysed the effect of an increased minimum wage on employment. By comparing fast-food restaurants in the states of New Jersey and Pennsylvania, they found that an increase in the minimum wage did not lead to higher unemployment, contrary to what traditional economic theory often predicted. This study challenged prevailing views and has had a significant impact on economic policy and the debate on the effects of the minimum wage.
Card has also researched the consequences of immigration for the labour market and has shown that immigration often does not lower wages or employment opportunities for local workers, which has been crucial for understanding the dynamics of the labour market.
Through his methodological approach, Card has contributed to a revolution in the field of economics by demonstrating how natural experiments can be used to uncover causal relationships in the economy. His research has not only had academic significance but also direct implications for the formulation of labour market policies worldwide.
The lecture is organized by The Department of Economics.
When NHH Professor Agnar Sandmo (1938-2019) retired at the age of 70 on 9 January 2008, NHH established two annual institution in order to mark Sandmo’s long contribution to the field of Economics, as well as his international standing: