Robert E. Hall and Michael Woodford win Nobel prize in economics

Robert E. Hall and Michael Woodford were awarded the 2026 Nobel Prize in Economic Sciences on Monday. The Royal Swedish Academy of Sciences announced that the pair won for their work on the microeconomic foundations of macroeconomic stabilisation. The Mainichi reports that the American-born economists are affiliated with Stanford University and Columbia University, respectively.

The laureates' work has provided a stable theoretical foundation for models used by governments and central banks worldwide, which helps them respond to economic shocks and manage booms and recessions, according to DW English (Top Stories). The prize is formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel.

The economics prize was established in 1968 by the central bank as a memorial to Alfred Nobel. DW English (Top Stories) notes that while the economics prize was not one of the five original Nobel Prizes established in Nobel's will, it is presented alongside the others on December 10.

Brief written by urgent.news from Gulf News, The Mainichi, DW English (Top Stories), The Japan News by The Yomiuri Shimbun, Hindustan Times - World News — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.