Robert E. Hall and Michael Woodford have been awarded the Nobel Prize in Economics for their work on the microeconomic foundations of macroeconomic stabilisation. The two American economists will share the 12 million Swedish kronor ($1.19 million) prize. Hall, a professor at Stanford University in California, and Woodford, a professor at Columbia University in Massachusetts, have significantly improved our ability to implement effective stabilisation policies. According to the Royal Swedish Academy of Sciences, this research enables central banks and governments to reduce economic fluctuations through timely monetary and fiscal policies.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
