Robert E. Hall and Michael Woodford won the Nobel memorial prize in economics for their work on the microeconomic foundations of macroeconomic stabilization.
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Robert E. Hall and Michael Woodford won the Nobel memorial prize in economics for their work on the microeconomic foundations of macroeconomic stabilization.
22 reposts85 likes
Nobel-winning economic research helps explain how individual decisions become macroeconomic outcomes. In other words: THE ECONOMY contains people. Millions make decisions. Economists aggregate them. CNBC draws a line. Macroeconomics: 8 billion participants. Nobody read the instructions.