Nobel Prize in economics goes to 2 Americans
Stockholm — American-born economists Robert E. Hall and Michael Woodford won the Nobel memorial prize in economics on Monday for their work on models that have helped governments and central banks manage economic shocks.
The Royal Swedish Academy of Sciences announced the winners in Stockholm, saying the winners were being honored "for microeconomic foundations of macroeconomic stabilisation."
"The laureates have helped us smooth out the economy's peaks and troughs," the academy said in a statement.
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