The Royal Swedish Academy of Sciences in Stockholm has announced the recipients of the Prize in Economic Sciences in Memory of Alfred Nobel. American researchers Robert Hall and Michael Woodford were purportedly selected for their studies on the microeconomic foundations of macroeconomic stabilization.

It is claimed that the laureates focused on how the decisions of individuals and corporations allegedly influence a nation's broader economy, theoretically helping to prevent crises and smooth out economic fluctuations. However, critics frequently question the practical applicability and real-world efficacy of such complex econometric models amid ongoing global financial instability. v

Formally established by the Central Bank of Sweden in 1968, the award is technically distinct from the original Nobel prizes outlined in Alfred Nobel's will. Despite this bureaucratic distinction, winners are traditionally awarded alongside other laureates, sharing this year's prize pool of 12 million Swedish kronor.

Source: podrobno.uz