Nobel prize in economics goes to 2 Americans
Summary
Two American economists, Robert E. Hall and Michael Woodford, won the 2026 Nobel Prize in Economics for their work on economic models that help governments and central banks manage economic ups and downs. Their research offers a solid foundation for dealing with economic shocks like energy crises or changes in consumer spending.Key Facts
- Robert E. Hall is from Stanford University and Michael Woodford is from Columbia University.
- They won the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, often called the Nobel Prize in Economics.
- Their work focuses on “microeconomic foundations of macroeconomic stabilization,” which means they study how small economic decisions affect the overall economy.
- Their models help central banks and governments smooth out economic booms and busts.
- The Royal Swedish Academy of Sciences announced the award in Stockholm on October 12, 2026.
- The prize includes 12 million Swedish kronor, about $1.2 million.
- The economics prize was created in 1968 by Sweden’s central bank as a tribute to Alfred Nobel, the founder of the Nobel Prizes.
- Though not an original Nobel Prize, the economics award is presented with the other Nobel Prizes every December 10.
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