The Swedish Academy has awarded the Nobel Prize in Economics to Robert Hall and Michael Woodford.
In a statement, the Academy noted that the models developed by Hall and Woodford are now used by central banks and governments around the world.
“Their models are now used by central banks and governments around the world,” the Academy said.
Hall and Woodford are academics whose work has influenced macroeconomic policy and research.
The Nobel Prize in Economics is awarded annually by the Swedish Academy to individuals who have made outstanding contributions to the field.
<small>Source: Al Jazeera — read the original story there.</small>
