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American economists Robert E. Hall and Michael Woodford received the Nobel memorial prize in economics on Monday for their work developing models that aid governments and central banks in managing economic shocks. The Royal Swedish Academy of Sciences awarded them for providing a theoretical foundation for stabilization measures during economic crises. Each laureate will receive 12 million Swedish kronor, equivalent to about $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
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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 73775 · logged 2026-10-12
American-born economists Robert E. Hall and Michael Woodford won the Nobel memorial prize in economics on Monday for their work on models that have helped governments and central banks manage economic shocks.
asserted
governments → bear → shocks
The Royal Swedish Academy of Sciences announced the winners in Stockholm, saying the winners were being honored "for microeconomic foundations of macroeconomic stabilisation."
"The laureates have helped us smooth out the economy's peaks and troughs," the academy said in a statement.
asserted
academy → announce → statement
Hall is affiliated with Stanford University in California, and Woodford with Columbia University in New York.
asserted
Hall → affiliate → York
Woodford spoke to the committee by phone Monday from New York, saying: "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," John Hassler, chair of the Committee for the Prize in Economic Sciences, said in a news release.
asserted
Hassler → speak → release
"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 is formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel.
asserted
prize → know → Nobel
Last year, three researchers who study business innovation won for explaining how new products and inventions promote economic growth and human welfare, even as they leave older companies in the dust.
asserted
they → study → dust
The economics prize is formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel.
asserted
prize → know → Nobel
The central bank established it in 1968 as a memorial to Nobel, the 19th-century Swedish businessman and chemist who invented dynamite and established the five Nobel Prizes.
asserted
who → establish → Prizes
Nobel purists stress that the economics prize is technically not a Nobel Prize, but it is always presented together with the others on Dec. 10, the anniversary of Nobel's death in 1896.
asserted
it → stress → 1896
Nobel honors were announced last week in medicine, physics, chemistry, literature and peace.
asserted
honors → announce → medicine
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