Americans Hall and Woodford win Nobel economics prize

Summarised from 2 outlets · Updated 12 Oct, 12:00 · Archive

US academics Robert Hall and Michael Woodford have won the 2026 Nobel prize in economics for work on macroeconomic stabilisation.

US academics Robert Hall and Michael Woodford have won the 2026 Nobel memorial prize in economics, formally known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. The Royal Swedish Academy of Sciences awarded the prize for their work on the microeconomic foundations of macroeconomic stabilisation. The prize is worth 12 million Swedish crowns.

The two laureates developed new macroeconomic models that improved the ability to implement effective stabilisation policy, enabling well-timed fiscal and monetary policy measures that can reduce damaging swings in the economy. According to John Hassler, Chair of the Committee for the Prize in Economic Sciences, their work has provided a stable theoretical foundation for models now used by central banks and governments around the world. The models help deal with economic shocks such as energy crises or sudden changes in household consumption.

The economics prize, first awarded in 1969, was established by Sweden's central bank and is not one of the original five awards created in Alfred Nobel's 1895 will. The majority of previous laureates have been from the United States. Only three women have ever won the prize, most recently Claudia Goldin in 2023 for work on gender and employment.

How it is being reported

• Americans Hall and Woodford win Nobel economics prizeRobert E. Hall and Michael Woodford have won the Nobel memorial prize in economics for their work on the foundations of macroeconomic stabilisation.Perth Now · 12 Oct, 11:23
• Americans Hall and Woodford win Nobel economics prizeRobert E. Hall and Michael Woodford have won the Nobel memorial prize in economics for their work on the foundations of macroeconomic stabilisation.The West Australian · 12 Oct, 11:23

In this story: Robert E. Hall · Michael Woodford · Royal Swedish Academy of Sciences · United States

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