Nobel Economics Prize 2026: How can Hall and Woodford’s ideas help tackle today’s economic challenges?

Podcast: In Focus by The Hindu · The Hindu

Opublikowano: 2026-10-21

This year’s Nobel Prize in Economics was awarded to an American duo – Prof Robert Hall of Stanford University and Prof Michael Woodford of Columbia University – "for microeconomic foundations of macroeconomic stabilisation”. Both Prof Hall and Prof Woodford were part of a new crop of economists who studied the economy not as a monolith, but also as a collection of many of microeconomic decisions. Simply put, their work helped change how economists understand the economy: not just through a broad set of indicators such as inflation, output and consumption, but by examining how businesses and consumers make decisions, and how thes...