AssetID: 56084812
Headline: UNCAPTIONED: Americans Robert E. Hall And Michael Woodford Win Nobel Economics Prize
Caption: Americans Robert E. Hall And Michael Woodford Win Nobel Economics Prize. American-born economists Robert E. Hall and Michael Woodford have won the Nobel memorial prize in economics for their work on managing economic shocks. The Royal Swedish Academy of Sciences honoured the pair "for microeconomic foundations of macroeconomic stabilization”. The academy said their research helped provide the foundation for economic models now used by central banks and governments worldwide. Their work has helped policymakers respond to shocks including energy crises and sudden changes in household spending. Hall is affiliated with Stanford University in California, while Woodford is based at Columbia University in New York. The pair will share 12 million Swedish kronor, around $1.2 million, with the award due to be presented on December 10. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Robert E. Hall,Michael Woodford,Nobel economics prize,economics,Stanford University,Columbia University,Royal Swedish Academy of Sciences
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