Royal Swedish Academy Honors Two U.S. Scholars for New Inflation‑Growth Framework

The 2024 economic sciences award was presented to the American pair for devising a model that bridges the gap between inflation spikes and economic expansion. Their micro‑based approach replaces earlier statistical correlations with a theory rooted in how individual firms and families interact in the market. The academy noted that the model equips governments and central banks with clearer signals for policy timing, helping to blunt the impact of downturns. Both laureates share a cash prize of 12 million Swedish crowns, equivalent to about eleven crore Indian rupees.