Nobel prize in economics awarded to Robert E. Hall and Michael Woodford
A bust of Swedish chemist, engineer, inventor, businessman, and philanthropist Alfred Nobel (1833-1896) is pictured outside the Norwegian Nobel Institute in Oslo, Norway on January 8, 2026.
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U.S. economists Robert E. Hall and Michael Woodford were on Monday awarded the Nobel prize in economics for work on the “microeconomic foundations of macroeconomic stabilisation.”
The pair were jointly awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel and will split the 12 million Swedish kronor ($1.19 million) prize.
“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.
“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.”
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