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Robert E. Hall and Michael Woodford were awarded the Economics Nobel on October 12, 2026, for their work on microeconomic foundations of macroeconomic stabilization. The Royal Swedish Academy highlighted their development of new models that enhance the effectiveness of fiscal and monetary policy measures. Each laureate receives a prize worth approximately $1.2 million.
Written locally by qwen2.5:14b on 2026-10-12,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
On October 12, 2026, the Royal Swedish Academy of Sciences announced that Robert Hall and Michael Woodford had won the Nobel memorial prize in economics for their work on "microeconomic foundations of macroeconomic stabilisation." Both Hall, affiliated with Stanford University in California, and Woodford, from Columbia University in New York, were honored for developing new macroeconomic models that enhance our ability to implement effective stabilization policies. Their research provides a theoretical basis for the models used by central banks and governments worldwide to manage economic shocks such as energy crises or sudden shifts in consumer spending. The prize, worth 12 million Swedish crowns ($1.2 million), was awarded during an event in Stockholm, marking the conclusion of that year's Nobel Prize cycle.
Written for “Economics Nobel Prize 2026” on 2026-10-12,
grounded in this article and the 5 other(s) covering the same event.
Why this leaning score
This article does not take a side on a contested political
question, so it has no leaning score. That is an
answer rather than a gap: a match report or a rescue can be warmly
or critically written without being left or right, and scoring it
anyway is how approval of a subject gets recorded as a political
position.
No political leaning scored for article 73728 · logged 2026-10-12
The Economics Nobel is being awarded to Robert E. Hall of Stanford University and Michael Woodford of Columbia University for “microeconomic foundations of macroeconomic stabilisation”, the Royal Swedish Academy of Sciences said on Monday (October 12, 2026).
asserted
Academy → award → Monday
“This year’s laureates in economic sciences, Robert E. Hall and Michael Woodford, have developed new macroeconomic models that have significantly improved our ability to implement effective stabilisation policy.
asserted
that → develop → policy
On the basis of these models, well-timed fiscal and monetary policy measures can reduce the economy’s peaks and troughs,” the Academy said.
asserted
Academy → reduce → peaks
The prestigious award, formally known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is the final prize to be given out this year and is worth 12 million Swedish crowns ($1.2 million).
asserted
award → know → Nobel
The economics prize, first awarded in 1969, is not one of the original five awards created in the 1895 will of industrialist and dynamite inventor Alfred Nobel, but was established by Sweden’s central bank.
asserted
prize → award → bank
The Economics Nobel was announced three days after South African jurist Navaneetham ‘Navi’ Pillay was awarded the Nobel Peace Prize.
asserted
Pillay → announce → Prize
The 2026 Nobel season comes to a close with the announcement of Economics Nobel.
asserted
season → come → Nobel
In 2025, the economics award went to American-Israeli Joel Mokyr, France’s Philippe Aghion and Canada’s Peter Howitt for research into how technology drives and affects growth.
asserted
technology → go → growth
The economics prize is the only Nobel not among the original five established in the will of Swedish scientist Alfred Nobel, who died in 1896.
asserted
who → establish → 1896
Officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, it was created through a donation from Sweden’s central bank in 1968, leading detractors to dub it “a false Nobel”.
asserted
it → call → it
So far, two women have been honoured during this year’s Nobel season: Navi Pillay, who won the peace prize on Friday (October 9, 2026), and Canadian-Icelandic writer Anne Carson, the literature laureate.
asserted
who → honour → Friday
The Nobel Prize in Chemistry was awarded to Frenchman Henri Kagan and Japan’s Kenso Soai, and the Physics Prize to Belgian Francis Halzen.
asserted
Prize → award → Halzen
And the first prize to be announced, in medicine, went to American Karl Deisseroth and Germans Peter Hegemann and Georg Nagel.
asserted
prize → announce → Deisseroth
The winners will get a cash award of 12 million Swedish kronor (about $1.2 million).
asserted
winners → get → kronor
The award will be presented on December 10, the Nobel Prize day, also the death anniversary of Swedish inventor Alfred Nobel, who in his will dictated that his estate should be used to fund “prizes to those who, during the preceding year, have conferred the greatest benefit to humankind”.
asserted
who → present → humankind
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