2026-10-13
9 分钟NPR.
This year's Nobel Prize in Economics went to two economists,
Robert Hall at Stanford University and Michael Woodford at Columbia University.
Ellen Moons, Secretary General of the Royal Swedish Academy of Sciences,
said they gave them the award for microeconomic foundations of macroeconomic stabilization.
That may sound like a lot of mumbo jumbo, but it's econo speak for basically a revolution in macroeconomics.
That's the study of how the whole economy works and how to stabilize it,
you know, make its ups and downs less like a wild roller coaster.
The father of macroeconomics was British economist John Maynard Keynes.
He believed governments could fight recessions by boosting spending and curtail inflation by restraining it.
He inspired a generation of economists who built models that guided policymaking.
Here's John Hassler, the chair of the Economics Prize Committee, this Monday morning.
For a long time, the recipes of Keynes seemed to work.
But they then failed during the oil crisis in the 1970s when high unemployment and high inflation took...
Over simultaneously.
Enter Hall and Woodford.
They helped rebuild macroeconomic models from the ground up, starting with the micro,
how people and businesses decide to spend, save and invest,
and how their expectations of tomorrow influence what they do today.
Their work helped shape what's known as new Keynesian economics, which continues to guide policymakers around the world.