Stanford-Columbia models applied to Philippine economy and energy crises
The latest in this situation
- Theories from Stanford University and Columbia University are being used to explain the present Philippine economy.
- Their research bridged macroeconomics and microeconomics to address energy crises.
- Robert Hall and others developed new economic models and chaired the Nobel Prize committee.
- Robert Hall's work, associated with Stanford, contributed to the New Keynesian approach, alongside Michael Woodford at Columbia University.
- Research from Stanford and Columbia provides a foundation for modern economic models.
How it started
Robert Hall and Michael Woodford Win Nobel Prize for Economic Modeling
What happened
Robert E. Hall and Michael Woodford won the Nobel memorial prize in economics for their work on models that help governments and central banks manage economic shocks. The Nobel committee stated that their research created the theoretical foundation for models used globally to deal with economic fluctuations.
Why it matters
The laureates' research has been noted for making it possible to manage major macroeconomic crises more effectively than before. The models developed by Hall and Woodford are used by policymakers to address issues such as inflation and energy crises.
Who's involved
- Robert HallWinner of the Nobel memorial prize in economics
- Columbia UniversityAffiliation of Michael Woodford, a Nobel laureate
- Stanford UniversityAffiliation of Robert E. Hall, a Nobel laureate
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Columbia UniversitySpeculative
Central banks might use the theoretical foundations of the research to manage economic shocks and inflation.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.How it developed
Newest first. Tap a step to see who reported it.- Theories from Stanford University and Columbia University are being used to explain the present Philippine economy.Sub-event
- Robert Hall's work, associated with Stanford, contributed to the New Keynesian approach, alongside Michael Woodford at Columbia University.Sub-event
Research from the two universities lays groundwork for modern economic models.1 source
Keep exploring
The entities involved
-
Stanford University
private research university in Stanford, California, USA
-
Columbia University
private university in New York City, New York, US