Robert Hall and Michael Woodford Win 2026 Nobel Economics Prize for Work on Stabilization
RIYADH, October 12 (Saudi Arabia Breaking News) - U.S. academics Robert Hall and Michael Woodford won the 2026 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for their work on the microeconomic foundations of macroeconomic stabilization, the Royal Swedish Academy of Sciences announced on Monday.
The two laureates developed macroeconomic models that help guide fiscal and monetary policy. Their research provides a basis for timing policy measures to reduce damaging economic fluctuations.
John Hassler, Chair of the Committee for the Prize in Economic Sciences, said their work provided the theoretical foundation for models used by central banks and governments worldwide. These models improve policymakers’ ability to respond to shocks such as energy crises and sudden changes in household spending, he said.
The prize is worth 12 million Swedish crowns, approximately $1.2 million. The announcement concludes this year’s Nobel prize announcements, following those for medicine, physics, chemistry, literature and peace last week.
Source: Reuters.
