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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2 Americans win Nobel for work on managing economic shocks
STOCKHOLM — American economists Robert E. Hall and Michael Woodford won the Nobel Memorial Prize in economics Monday for their work on models that have helped governments and central banks manage economic shocks, such as energy crises and inflation. The Royal Swedish Academy of Sciences noted that
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Stanford professor wins Nobel Prize for research on consumer behavior
Robert E. Hall, a Menlo Park resident and professor emeritus at Stanford University, was awarded the 2026 Nobel Memorial Prize in Economic Sciences this week for developing macroeconomic models of consumer behavior.
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