Published by the Manhattan Institute, City Journal focuses on urban policy. Recent discussions center around a proposal by economist Robert E. Hall. His idea aims to streamline the process of economic policy collection, ensuring it does not deter investment activities.
Earlier this month, economists Robert E. Hall and Michael Woodford were awarded the 2026 Nobel Prize in Economics. Their recognition came for contributions to the ‘microeconomic foundations of macroeconomic stabilization.’ This work has greatly influenced how modern central banks stabilize the economy.
Hall and Woodford developed models that guide these banks, changing the approach from focusing on major economic indicators like inflation and unemployment. Instead, attention turned to the choices and behaviors of individuals in the economy.