Hall and Woodford win Nobel economics prize — SkimNews
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- Robert E. Hall of Stanford University and Michael Woodford of Columbia University won the Nobel Prize in economics for research on how policymakers can stabilize economies, the Royal Swedish Academy of Sciences announced Monday.
- The laureates' work helped shape how central banks set interest rates, the academy's citation noted.
Why it matters: Central bank interest-rate decisions ripple through every mortgage, business loan, and government bond on the planet — and Hall and Woodford's research provides the theoretical backbone for how those rates get set. Their frameworks are now baked into the policy models deployed during recessions, banking crises, and inflation fights worldwide.
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