{"id":22927,"date":"2026-10-12T16:23:35","date_gmt":"2026-10-12T16:23:35","guid":{"rendered":"https:\/\/8657085.xyz\/?p=22927"},"modified":"2026-10-12T16:23:35","modified_gmt":"2026-10-12T16:23:35","slug":"americans-hall-and-woodford-win-economics-nobel-for-stabilisation-models","status":"publish","type":"post","link":"https:\/\/8657085.xyz\/?p=22927","title":{"rendered":"Americans Hall and Woodford win economics Nobel for stabilisation models"},"content":{"rendered":"<p> <div style=\"display: grid; grid-template-columns: 300px 160px; gap: 2px; width: 460px; background: #eee; padding: 2px;\">\r\n\r\n  <!-- \u6574\u884c\u5bbd\u5e7f\u544a -->\r\n  <div style=\"grid-column: 1\/-1; width: 460px; height: 250px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876674\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n  <div style=\"grid-column: 1\/-1; width: 460px; height: 90px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876676\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n\r\n  <!-- \u5de6\u4fa7\u7ad6\u6392 -->\r\n  <div style=\"height: 250px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876672\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n  <div style=\"height: 500px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876680\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n\r\n  <!-- \u53f3\u4fa7\u6469\u5929\u697c\uff08\u548c\u5de6\u4fa7\u5b8c\u5168\u5bf9\u9f50\uff09 -->\r\n  <div style=\"grid-row: 3\/5; height: 750px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876678\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n  \r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e6\" data-zoneid=\"5876682\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n<\/div><br \/>\n<\/p>\n<div style=\"padding-right:0;padding-left:0\">\n<p>Americans Robert Hall and Michael Woodford were awarded the Nobel economics prize Monday for their work on how monetary and fiscal policy can better stabilise disruptive economic fluctuations.<\/p>\n<p>The two were honoured for developing new models for managing recessions and other crises that fail to respond to traditional tools.<\/p>\n<p>\u201cOn the basis of these models, well-timed fiscal and monetary policy measures can reduce the economy\u2019s peaks and troughs,\u201d the jury said.\u00a0<\/p>\n<p>The Royal Swedish Academy of Sciences explained in a statement that ever since John Maynard Keynes formulated his\u00a0 economic theories almost a century ago, \u201cstabilisation\u201d policies had long let officials boost economic growth when needed.\u00a0<\/p>\n<p>But during the oil shocks in the 1970s, the Keynesian models that governed when and how action should be taken no longer worked.\u00a0<\/p>\n<p>Hall, 83, a professor at Stanford University, and Woodford, a professor at Columbia University born in 1955, separately began to explore new models.\u00a0<\/p>\n<p>\u201cRather than basing the models on statistical links between macroeconomic variables, such as inflation, production and consumption, they chose to build them on a microeconomic foundation,\u201d the jury said.<\/p>\n<p>Hall and Woodford\u2019s models include an \u201cunderstanding for how the total mass of individual households and businesses affect the economy through their actions\u201d, it said.<\/p>\n<p>A fundamental aspect of this is the understanding that households are forward-looking when making decisions about spending or saving.<\/p>\n<p>This means the way governments and central banks communicate their policies can influence people\u2019s views of the future when making such decisions.<\/p>\n<p>\u00a0<\/p>\n<p>\u2013 Stable foundation \u2013<\/p>\n<p>\u00a0<\/p>\n<p>\u201cThe laureates\u2019 work has provided us with a stable theoretical foundation for the models that are now used by central banks and governments around the world,\u201d John Hassler, chair of the Committee for the Prize in Economic Sciences, said in a statement.<\/p>\n<p>\u201cIt\u2019s a surprise, but I\u2019m feeling very good about it,\u201d Woodford told reporters via phone during the announcement of the prize, saying he felt \u201celated\u201d for receiving \u201ca tremendous honour\u201d.<\/p>\n<p>While his theories have had a large impact on policymakers, he said they had not been \u201cmotivated by a specific political agenda\u201d.<\/p>\n<p>\u201cIt was an attempt to improve the foundations for discussion of economic policy and therefore to contribute both to the management of the economy, but also to contribute to public understanding,\u201d Woodford said.<\/p>\n<p>The economics prize is the only Nobel not among the original five created in the will of Swedish scientist Alfred Nobel, who died in 1896.<\/p>\n<p>It was instead created through a donation from the Swedish central bank in 1968.<\/p>\n<p>But like the Nobels in chemistry and physics, the Royal Swedish Academy of Sciences chooses the winner and follows the same selection process.<\/p>\n<p>Last year, the economics award went to American-Israeli Joel Mokyr, France\u2019s Philippe Aghion and Canada\u2019s Peter Howitt for research into how technology drives and affects growth.<\/p>\n<p>Last week, South African judge Navi Pillay won the peace prize, and Canadian-Icelandic writer Anne Carson was named the literature laureate.<\/p>\n<p>The Nobel Prize in Chemistry was awarded to Frenchman Henri Kagan and Kenso Soai of Japan, and the Physics Prize to Belgian Francis Halzen.<\/p>\n<p>And the first prize to be announced, in medicine, went to American Karl Deisseroth and Germans Peter Hegemann and Georg Nagel.<\/p>\n<p>Like the other Nobels, the economics prize consists of a diploma, a gold medal and a $1.2 million cheque.<\/p>\n<p>The laureates will receive their prizes at formal ceremonies on December 10, the anniversary of Alfred Nobel\u2019s death in 1896.<\/p>\n<p>bur-jll\/js<\/p>\n<p>\u00a0<\/p>\n<\/div>\n<p><!-- \u603b\u5bb9\u5668\uff1a\u6700\u5927\u5bbd908px Grid\u7d27\u51d1\u5e03\u5c40 -->\r\n<div style=\"display: grid; grid-template-columns: 728px 160px; gap:2px; width:908px; background:#eee; padding:2px;\">\r\n\r\n  <!-- \u901a\u680f\u9876\u90e8\uff1a\u6700\u5927\u6a2a\u5e45 908x258 \u8de8\u6574\u884c -->\r\n  <div style=\"grid-column:1\/-1; height:258px; background:#ff6b6b; display:grid; place-items:center;\">\r\n    <!-- JuicyAds v3.0 -->\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async src=\"https:\/\/poweredby.jads.co\/js\/jads.js\"><\/script>\r\n<ins id=\"1114307\" data-width=\"908\" data-height=\"258\"><\/ins>\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async>(adsbyjuicy = window.adsbyjuicy || []).push({'adzone':1114307});<\/script>\r\n<!--JuicyAds END-->\r\n  <\/div>\r\n\r\n  <!-- \u7b2c\u4e8c\u901a\u680f\uff1a728\u00d790 \u901a\u680f -->\r\n  <div style=\"grid-column:1\/-1; height:90px; background:#4ecdc4; display:grid; place-items:center;\">\r\n    <!-- JuicyAds v3.0 -->\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async src=\"https:\/\/poweredby.jads.co\/js\/jads.js\"><\/script>\r\n<ins id=\"1114300\" data-width=\"728\" data-height=\"90\"><\/ins>\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async>(adsbyjuicy = window.adsbyjuicy || []).push({'adzone':1114300});<\/script>\r\n<!--JuicyAds END-->\r\n  <\/div>\r\n\r\n  <!-- \u5de6\u4fa7\u4e3b\u680f\uff1a\u591a\u5e7f\u544a\u5806\u53e0 -->\r\n  <div style=\"display:grid; 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display:grid; place-items:center;\">\r\n\t\r\n<!-- JuicyAds v3.0 -->\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async src=\"https:\/\/poweredby.jads.co\/js\/jads.js\"><\/script>\r\n<ins id=\"1114303\" data-width=\"125\" data-height=\"125\"><\/ins>\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async>(adsbyjuicy = window.adsbyjuicy || []).push({'adzone':1114303});<\/script>\r\n<!--JuicyAds END-->\r\n\t<\/div>\r\n  <\/div>\r\n\r\n  <!-- \u53f3\u4fa7\u7ad6\u680f\uff1a160\u00d7600 \u6574\u5217\u9ad8\u5e7f\u544a -->\r\n  <div style=\"grid-row:3\/8; height:600px;  display:grid; place-items:center;\">\r\n    <!-- JuicyAds v3.0 -->\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async src=\"https:\/\/poweredby.jads.co\/js\/jads.js\"><\/script>\r\n<ins id=\"1114301\" data-width=\"160\" data-height=\"600\"><\/ins>\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async>(adsbyjuicy = window.adsbyjuicy || []).push({'adzone':1114301});<\/script>\r\n<!--JuicyAds END-->\r\n  <\/div>\r\n\r\n<\/div><br \/>\n<br \/> Americans Hall and Woodford win economics Nobel for stabilisation models<br \/>\n<br \/>#Americans #Hall #Woodford #win #economics #Nobel #stabilisation #models<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Americans Robert Hall and Michael Woodford were awarded the Nobel economics prize Monday for their&#8230;<\/p>\n","protected":false},"author":1,"featured_media":22928,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[599,12502,9107,8875,16607,16736,1766,16735],"class_list":["post-22927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stories","tag-americans","tag-economics","tag-hall","tag-models","tag-nobel","tag-stabilisation","tag-win","tag-woodford"],"featured_image_urls":{"full":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/10\/31c28c5d3fea754295183660f771965f390fce44.jpg",768,512,false],"thumbnail":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/10\/31c28c5d3fea754295183660f771965f390fce44-150x150.jpg",150,150,true],"medium":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/10\/31c28c5d3fea754295183660f771965f390fce44-300x200.jpg",300,200,true],"medium_large":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/10\/31c28c5d3fea754295183660f771965f390fce44.jpg",640,427,false],"large":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/10\/31c28c5d3fea754295183660f771965f390fce44.jpg",640,427,false],"1536x1536":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/10\/31c28c5d3fea754295183660f771965f390fce44.jpg",768,512,false],"2048x2048":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/10\/31c28c5d3fea754295183660f771965f390fce44.jpg",768,512,false],"covernews-slider-full":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/10\/31c28c5d3fea754295183660f771965f390fce44.jpg",768,512,false],"covernews-slider-center":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/10\/31c28c5d3fea754295183660f771965f390fce44-768x500.jpg",768,500,true],"covernews-featured":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/10\/31c28c5d3fea754295183660f771965f390fce44.jpg",768,512,false],"covernews-medium":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/10\/31c28c5d3fea754295183660f771965f390fce44-540x340.jpg",540,340,true],"covernews-medium-square":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/10\/31c28c5d3fea754295183660f771965f390fce44-400x250.jpg",400,250,true]},"author_info":{"display_name":"admin","author_link":"https:\/\/8657085.xyz\/?author=1"},"category_info":"<a href=\"https:\/\/8657085.xyz\/?cat=7\" rel=\"category\">Stories<\/a>","tag_info":"Stories","comment_count":"0","_links":{"self":[{"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/posts\/22927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/8657085.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22927"}],"version-history":[{"count":0,"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/posts\/22927\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/media\/22928"}],"wp:attachment":[{"href":"https:\/\/8657085.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/8657085.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/8657085.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}