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Americans Robert Hall and Michael Woodford win Nobel economics prize for helping equip nations to deal with economic shocks

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Michael Woodford and Robert E Hall, 'king' of calling US recessions, win economics Nobel — follow Alphaville's live analysis

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The two laureates won the prize for developing new macroeconomic models “that can reduce the intensity of damaging swings in the economy,” said John Hassler, Chair of the Committee for the Prize in Economic Sciences, in a statement.

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