Nobel Prize in Economic Sciences awarded to Robert E. Hall and Michael Woodford

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American economists Robert E. Hall and Michael Woodford were awarded the Nobel Prize in Economic Sciences for work on models intended to help governments and central banks respond to economic shocks. Their research examined how consumers’ expectations of future income affect spending decisions and how companies’ expectations of future interest rates affect pricing decisions.

The Nobel Committee said the research has helped make responses to major economic crises more effective, including during recent pandemic and energy crises. The award’s official name is the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel; it was established in 1969 rather than under Alfred Nobel’s original will.

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Business & Finance

Nobel Prize in Economics awarded to Robert Hall and Michael Woodford

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American economists Robert Hall and Michael Woodford were awarded the Nobel Prize in Economics, the Royal Swedish Academy of Sciences announced. The prize recognized their research on how governments and central banks can use fiscal and monetary policy to reduce economic fluctuations. Their work examined how the decisions and expectations of households and companies affect efforts to stabilize the economy.

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Nobel Prize in Physics awarded to Francis Halzen

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Belgian-born scientist Francis Halzen, 82, was awarded the Nobel Prize in Physics for his work on detecting high-energy neutrinos from the universe. He is affiliated with the University of Wisconsin–Madison in the United States. A single report said Halzen began Antarctic neutrino-detection research in the 1980s, worked on the Amanda detector and later built the larger IceCube detector.

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Nobel Prize in Chemistry awarded to Henri Kagan and Kensō Soai

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French chemist Henri Kagan and Japanese chemist Kensō Soai were awarded the Nobel Prize in Chemistry. They were recognized for the discovery of non-linear effects and autocatalysis in asymmetric organic synthesis. Their work concerned mirror-image variants of molecules, which can have different effects despite having the same composition. Reports said the research is important for, among other things, the development and production of medicines.