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Economy — Education

Nobel Economics Prize Goes To Two US Economists For Macroeconomic Research

The pair will share the 12 million Swedish kronor award, worth approximately $1.19 million

,   and  TIPP Staff
2 min read
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US economists Robert E. Hall and Michael Woodford have jointly won the Nobel Prize in Economics for research on the microeconomic foundations of macroeconomic stabilisation.

The pair will share the 12 million Swedish kronor award, worth approximately $1.19 million. According to the prize committee, their work established a strong theoretical basis for economic models now used by central banks and governments worldwide.

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Committee chairman John Hassler said the research helps policymakers better understand and respond to economic shocks, including energy crises and sudden shifts in household consumption.

Their work provides tools for analysing economic disruptions and informing stabilisation policies.

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