Nobel Prize in Economics goes to pair of US economists
The pair got the Nobel for developing economic models that help governments and central banks respond more effectively to booms and recessions.
The 2026 Nobel Prize in Economic Sciences has been bestowed upon Robert E. Hall and Michael Woodford, according to the Royal Swedish Academy of Sciences in Stockholm. The accolade recognizes their groundbreaking work in microeconomic foundations of macroeconomic stabilization, which has paved the way for the creation of economic models that enable governments and central banks to respond more effectively to economic booms and recessions.
The Nobel Prize in Economics, officially titled the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968 by the Sveriges Riksbank to commemorate Alfred Nobel, the Swedish chemist and businessman who invented dynamite. While some argue that it does not technically qualify as a Nobel Prize since it was not among the original five prizes established by Nobel in his will, it is presented alongside the others on December 10, the anniversary of Nobel's death in 1896.
The prize money for this year amounts to 12 million Swedish kronor, approximately $1.2 million or €1.07 million.
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