2 Americans win Nobel Prize in economics for work on boom-bust cycles

Two Americans have won the Nobel Prize in economics for their work on smoothing boom-and-bust cycles to limit unemployment and inflation. The award recognizes their research into economic fluctuations and policy responses. The laureates' findings have influenced central bank strategies worldwide, aiming to reduce the severity of recessions and inflationary spikes. The Nobel committee highlighted the practical impact of their work on macroeconomic policy.