Just a personal addendum: Mike was my undergraduate thesis advisor at Princeton. This was a transformative experience. One of the crucial turning points in my life. So, I count myself as a Woodford student (part of the Woodford army, some might say :) ). Then I was fortunate enough to have Mike as a colleague at Columbia for 10 years. On a number of occasions, conversations with Mike were pivotal for my research (e.g., when Emi and I were working on our fiscal stimulus paper).
But for me, the Woodford experience started in Econ 420 at Princeton in 1999. This was a small undergraduate class with maybe a dozen students. But among those were four people that would end up tenured at top 10 econ departments. It was a pretty special class!
To do good research, one needs to have a few "superpowers" up one's sleeve: things one understands really well and are applicable to lots of issues that come up in one's research. One of the most important "superpowers" that I have as a scholar (to the extent that I have any) is the theoretical ideas about monetary economics that Mike taught me and I studied in his book. They are a constant source of new insight which permeate my research. (For me, they have been especially powerful when mixed with empirical ideas from other fields).
I am simply over the moon that Mike has won the Nobel Prize.
There were screams of joy in the Nakamura-Steinsson household this morning when we saw this news!