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Robert Hall and Michael Woodford from the United States received the 2026 Nobel economics prize for their contributions to macroeconomic stabilization through microeconomic foundations. They developed models that enhance fiscal and monetary policy effectiveness in mitigating economic fluctuations. The award, valued at 12 million Swedish crowns ($1.2 million), recognizes the practical applications of their theories by central banks and governments worldwide.
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
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anyway is how approval of a subject gets recorded as a political
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No political leaning scored for article 73755 · logged 2026-10-12
Americans Hall and Woodford win Nobel economics prize for work on stabilisation
STOCKHOLM, Oct 12 - US academics Robert Hall and Michael Woodford won the 2026 Nobel economics prize for "for microeconomic foundations of macroeconomic stabilisation", the Royal Swedish Academy of Sciences said on Monday.
asserted
Academy → win → Monday
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 two laureates developed new macroeconomic models that improved our ability to implement effective stabilisation policy, enabling well-timed fiscal and monetary policy measures that can reduce the intensity of damaging swings in the economy.
asserted
that → develop → economy
"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," John Hassler, Chair of the Committee for the Prize in Economic Sciences, said in a statement.
asserted
Hassler → provide → statement
"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."
asserted
households → equip → much
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
Only three women have ever won, most recently Claudia Goldin in 2023 for work on how gender has affected pay and employment over time in the United States.
asserted
gender → win → States
Analysis by the Institute for Scientific Information, part of Clarivate, had picked researchers working on monetary policy, the economics of information technology and evolutionary economic theory as possible recipients.
asserted
Analysis → pick → recipients
Last year's winners, Joel Mokyr, Philippe Aghion and Peter Howitt, won for work on "creative destruction" and how new technology and production methods can boost growth and living standards.
asserted
technology → win → growth
The Nobel prizes for medicine, physics, chemistry, literature and peace were announced last week.
asserted
prizes → announce → medicine
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