US economists Hall and Woodford win 2026 Nobel economics prize
AI-generated briefing · First published
Robert E. Hall and Michael Woodford awarded for microeconomic foundations of macroeconomic stabilisation; prize worth 12 million Swedish crowns.
The Royal Swedish Academy of Sciences awarded the 2026 Nobel Prize in Economic Sciences to Americans Robert E. Hall of Stanford University and Michael Woodford of Columbia University for their work on how monetary and fiscal policy can stabilise economic fluctuations. [1] [2] [3] [4] [5] [6]
The laureates developed new macroeconomic models based on household and firm behaviour, replacing earlier Keynesian models that failed during the 1970s oil crises. Committee chair John Hassler said the models help central banks and governments respond to shocks such as energy crises or sudden changes in household consumption. [1] [2] [3] [4] [5] [6]
Sources
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