Tom McDonnell:The Sargent and Sims Noble prize lectures are here.
Tom Sargent poses four topical questions:
1. Should Government default on their debts?
2. Should a central government bail out subordinate states?
3. Should a monetary union precede a fiscal union?
4. Should a fiscal union precede a monetary union?
Meanwhile Chris Sims looks at historical and current statistical modelling of monetary policy and its effects. He suggests only a small part of monetary fluctuations could be attributed to erratic monetary policy.