Business · Economy · 2 hrs ago
Robert Hall and Michael Woodford win 2026 economics prize
U.S. economists Robert E. Hall and Michael Woodford have won the 2026 prize in economic sciences.
Hall is affiliated with Stanford University in California, and Woodford with Columbia University in New York.
The Royal Swedish Academy of Sciences announced the award in Stockholm on October 12.
Their work connects decisions made by households and businesses with how the wider economy behaves.
Models based on this approach are used by central banks and governments to guide policy and respond to shocks such as energy crises or changes in household spending.
The aim is to reduce sharp rises and falls in economic activity.
The award is worth 12 million Swedish kronor and will be presented on December 10.
Robert E. Hall and Michael Woodford won the 2026 economics prize, awarded by the Royal Swedish Academy of Sciences.
The American-born economists were recognized for work on the microeconomic foundations of macroeconomic stabilisation.
Hall is affiliated with Stanford University, and Woodford with Columbia University.
The academy said their work underpins models used by central banks and governments to manage economic shocks.
The prize is formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel.
- Who
- American-born economists Robert E. Hall and Michael Woodford.
- What
- They won the 2026 economics prize for work on the microeconomic foundations of macroeconomic stabilisation.
- When
- October 12, 2026.
- Where
- The award was announced in Stockholm by the Royal Swedish Academy of Sciences.
- Why
- They were recognized for their work on the microeconomic foundations of macroeconomic stabilisation, which supports models used to manage economic shocks.
This story does not have two clearly opposing sides.
It's a tremendous honor, it's a surprise.
The laureates' work has provided us with a stable theoretical foundation for the models that are now used by central banks and governments around the world.
With them, we are better equipped to deal with shocks in the economy, such as energy crises or sudden changes in how much households consume.
Sweden's central bank established the economics prize in memory of Alfred Nobel.
The Royal Swedish Academy of Sciences announced Hall and Woodford as the prize winners in Stockholm.
The economics prize is presented with the other Nobel prizes on the anniversary of Nobel's death.
- Laureates
- Robert E. Hall and Michael Woodford
- Award year
- 2026
- Award location
- Stockholm
- Hall affiliation
- Stanford University, California
- Woodford affiliation
- Columbia University, New York
- Prize amount
- 12 million Swedish kronor
Sources
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Nobel memorial prize in economics awarded to Robert E. Hall and Michael Woodford
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