Robert E. Hall and Michael Woodford win the economics Nobel for work on managing economic shocks
Summary
American economists Robert E. Hall and Michael Woodford won the Nobel Memorial Prize in economics on Monday 12 October for their work on models that have helped governments and central banks manage economic shocks, such as energy crises and inflation, PBS NewsHour reported. The Royal Swedish Academy of Sciences announced the winners in Stockholm, saying the two were being honored for work that has helped policymakers deal with economic fluctuations, according to The Philadelphia Inquirer. Fortune said Stanford's Robert Hall and Columbia's Michael Woodford reshaped how central banks respond to crises by studying consumer and business decisions, and that the prize went to the scholar whose work shaped Fed 'forward guidance', a practice Kevin Warsh says has gone too far.
Latest: American economists Robert E. Hall and Michael Woodford won the Nobel Memorial Prize in economics for their work on models that have helped governments and central banks manage economic shocks, such as energy crises and inflation.
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How it unfolded
Monday 12 October
American economists Robert E. Hall and Michael Woodford won the Nobel Memorial Prize in economics for their work on models that have helped governments and central banks manage economic shocks, such as energy crises and inflation.
- 10:58The Philadelphia Inquirer2 American economists win Nobel for work on managing economic shocks
- 10:50FortuneThe economics Nobel went to the scholar whose work shaped Fed ‘forward guidance,’ a practice Kevin Warsh says has gone too far
- 10:09LA Times2 American economists win Nobel for work on managing economic shocks
- 09:26PBS NewsHourWATCH: 2 American economists win Nobel for studying how to deal with economic shocks
- 07:15The Philadelphia Inquirer2 American economists win Nobel for overturning assumptions about how to deal with economic shocks
- 06:18CBS NewsNobel prize in economics goes to 2 Americans
- 05:55The Philadelphia InquirerRobert E. Hall and Michael Woodford win Nobel memorial prize in economics