US economists win Nobel for research helping policymakers navigate crises

Two American economists, Robert E. Hall of Stanford University and Michael Woodford of Columbia University, have won the Nobel Memorial Prize in Economic Sciences for their work on economic stabilisation. Their research helps policymakers and central banks better understand economic fluctuations, manage recessions and inflation, and account for public expectations when shaping economic policy. The prize money, worth around $1.2 million, will be shared equally between the two laureates.