Nobel economics prize awarded to Robert Hall and Michael Woodford
The Swedish academy says the academics' models are 'now used by central banks and governments around the world'.
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The Swedish academy says the academics' models are 'now used by central banks and governments around the world'.
Robert E. Hall and Michael Woodford got the Nobel for developing economic models that help governments and central banks respond more effectively to booms and recessions.
The U.S. economists were awarded for work that underpins the models used by central banks and governments to stabilize the economy.
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