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Nobel prize in economics awarded to Robert E. Hall and Michael Woodford

Their models helped central banks and governments use policy announcements and interest-rate guidance to reduce inflation and economic swings.

  • On Monday, American-born Robert Hall and Michael Woodford won the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel for their work on the microeconomic foundations of macroeconomic stabilisation.
  • The Royal Swedish Academy in Stockholm announced the award, which the Bank established in 1968 as a memorial to Nobel, the 19th-century Swedish businessman and chemist.
  • John Hassler, chair of the Committee for the Prize in Economic Sciences, said the laureates' "work has provided us with a stable theoretical foundation" for models used by central banks and governments worldwide.
  • Recipients will receive 12 million Swedish kronor , whether the prize is awarded to an individual, a small group of laureates, or an organization.
  • Although technically not a Nobel Prize, it is presented on Dec. 10 alongside other honors announced last week in medicine, physics, chemistry, literature and peace.
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BBC News broke the news in London, United Kingdom on Monday, October 12, 2026.
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