Education news
Economics Nobel to Robert Hall and Michael Woodford for models of recession and inflation: what did they discover?
· Source: Amar Ujala
Summary
Robert E. Hall and Michael Woodford have won the 2026 Nobel Prize in Economics, announced by the Royal Swedish Academy of Sciences. Hall showed that household spending depends heavily on what people expect about the future, so fear of a downturn can itself slow the economy. Woodford showed that central banks should set interest rates with the future in mind and win public trust that inflation will stay under control; his book Interest and Prices is used by central bankers worldwide. Hall teaches at Stanford and Woodford at Columbia University.
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