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Nobel Economics 2026: Hall and Woodford Explained
In brief
The 2026 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel went to Robert E. Hall of Stanford University and Michael Woodford of Columbia University. The Royal Swedish Academy of Sciences announced on October 12 that they were honoured “for microeconomic foundations of macroeconomic stabilisation”.
Who won the Nobel Prize in Economics 2026? Robert E. Hall (born 1943) and Michael Woodford (born 1955), both American economists, will share the 12 million Swedish kronor prize equally, according to the official Nobel press release.
What did Hall and Woodford discover?
In simple terms, they helped rebuild the economic models that governments and central banks use to fight recessions and inflation. After the 1970s oil crises, older models seemed to stop working. The laureates built models based on how households and businesses actually make decisions, including the fact that people look ahead when they save money or set prices.
Why does it matter for interest rates?
Because people are forward-looking, what a central bank says about its future plans can change behaviour today. The prize committee said these models are now used by central banks and governments worldwide to handle shocks such as energy crises.
When is the Nobel ceremony?
Laureates traditionally receive their prizes in Stockholm in December. Check NobelPrize.org for the official schedule.
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Why it matters
Their work sits behind the interest-rate decisions that affect mortgages, savings and jobs around the world.
People also ask
Who won the Nobel economics prize in 2026?
Robert E. Hall of Stanford and Michael Woodford of Columbia.
How much is the 2026 Nobel economics prize worth?
12 million Swedish kronor, shared equally between the two laureates.
Sources
- NobelPrize.org: Prize in Economic Sciences 2026 - Press release
- Sveriges Riksbank: Robert E. Hall and Michael Woodford are awarded the Prize in Economic Sciences 2026
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