The Nobel Prize in Economics awarded to Americans Michael Woodford and Robert E. Hall

American researchers Robert E. Hall from Stanford University and Michael Woodford from Columbia University received the Nobel Prize in Economics for their work on models that help governments and central banks manage economic shocks such as energy crises and inflation. The Royal Swedish Academy of Sciences stated that their research has helped smooth economic fluctuations and improve crisis response. Woodford, contacted by phone from New York, expressed his surprise and honor, while the committee president noted that their work provides a solid foundation for addressing global economic shocks.