Deciphering Iran's Inflation with Nobel Prize Winner Economic Theory Timur Rahmani, economist and faculty member of the University of Tehran, at a meeting held at the Faculty of Economics of the University of Tehran, examining the ideas of Robert Hall and Michael Woodford, winners of the 2026 Nobel Prize in Economics, addresses one of the most important questions of macroeconomics: what determines the general price level? From the theory of some money to the financial theory of determining the price level; Rahmani explains how Michael Woodford expanded economists' view of the source of inflation by introducing the government budget constraint into the equilibrium state. Moreover, in linking this theoretical framework to Iran's economy, he emphasizes the role of government spending and financial policy in the formation of chronic inflation. | Echo Iran.

Deciphering Iran's Inflation with Nobel Prize Winner Economic Theory Timur Rahmani, economist and faculty member of the University of Tehran, at a meeting held at the Faculty of Economics of the University of Tehran, examining the ideas of Robert Hall and Michael Woodford, winners of the 2026 Nobel Prize in Economics, addresses one of the most important questions of macroeconomics: what determines the general price level? From the theory of some money to the financial theory of determining the price level; Rahmani explains how Michael Woodford expanded economists' view of the source of inflation by introducing the government budget constraint into the equilibrium state. Moreover, in linking this theoretical framework to Iran's economy, he emphasizes the role of government spending and financial policy in the formation of chronic inflation. | Echo Iran.