The Royal Swedish Academy of Sciences has announced that this year’s Nobel Prize for Economics will be awarded to American economists Robert E Hall and Michael Woodford. They have been recognised “for microeconomic foundations of macroeconomic stabilisation”. The announcement was made via a news release.
Royal Swedish Academy of Sciences’ Announcement
On October 12, the Royal Swedish Academy of Sciences revealed the 2026 economics prize, awarding it to Hall and Woodford for their contributions on the “microeconomic foundations of macroeconomic stabilisation.” The prize acknowledges research that has strengthened the theoretical foundation for crafting policies aimed at reducing economic fluctuations.
“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, the chairperson of the Committee for the Prize in Economic Prizes stated.
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He added that “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.”
Who is Robert E Hall?
Robert E. Hall is an American economist who serves as a professor at Stanford University in California. Born in Palo Alto, California, in 1943, Hall has established a distinguished academic career centered on macroeconomics and the behaviour of households, businesses and labour markets.
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