Nobelpreis-Vergabe: Wirtschaftsnobelpreis geht an zwei US-Ökonomen

The Nobel Prize in Economic Sciences has been awarded this year to two American economists, Robert E. Hall and Michael Woodford. They were honored for their "foundations of microeconomic analysis for macroeconomic stabilization." This was announced by the Royal Swedish Academy of Sciences in Stockholm. According to their models, well-coordinated fiscal and monetary policies could mitigate both economic booms and busts, said the academy's general secretary, Ellen Moons, during the prize announcement.

The Nobel Prize for Economic Sciences is traditionally announced on the Monday following the other Nobel prizes. It is the only prize that does not trace its origin to the last will and testament of Swedish industrialist and dynamite inventor Alfred Nobel (1833-1896). Established in 1968, the economic prize was first awarded in 1969.

Thus, the Nobel Foundation refers to it not as the official Nobel Prize but as the Prize of the Swedish Central Bank for Economic Sciences in memory of Alfred Nobel. Like the other awards, it is presented on December 10th, the death anniversary of Nobel - in the Swedish capital, Stockholm. Earlier this week, Nobel laureates were announced in the categories of Medicine, Physics, Chemistry, Literature, and Peace.

Among the three medicine laureates were two German researchers, Peter Hegemann and Georg Nagel. This year's famous award for literature went to the Canadian poet, translator, and essayist Anne Carson. The Peace Nobel Prize was given to South African jurist Navanethem Pillay for her efforts against genocide and for human rights. The prestigious Nobel Prize for Economic Sciences this year went half to Israeli-American economic historian Joel Mokyr, half to Frenchman Philippe Aghion and Canadian Peter Howitt.

They were honored for their research on the steady growth of economies. The prize for this year, like the others, is endowed with twelve million Swedish Kronor - which is equivalent to a bit more than a million Euros.