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

Escuchar episodio

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…