{
  "id": 13922648,
  "title": "Premio Nobel de Economía 2026, en directo",
  "url": "https://urgent.news/2026/10/12/premio-nobel-de-economia-2026-en-directo",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-12T09:35:06.000Z",
  "source": {
    "name": "El Pais",
    "slug": "el-pais",
    "url": "https://elpais.com/economia/2026-10-12/premio-nobel-de-economia-2026-en-directo-para.html"
  },
  "original_language": "es",
  "account": "The Swedish Academy awarded American economists Michael Woodford and Robert E. Hall the 2026 Nobel Prize in Economics, officially known as the prize from the Swedish Bank for Economic Sciences in Memory of Alfred Nobel. The committee recognized their research that has sparked a paradigm shift in stabilization policy, referring to monetary or fiscal policies designed to smooth out economic cycles. Their neo-Keynesian models enable the explanation and quantification of how central banks and finance ministries worldwide cushion crises or contain bubbles. Both economists are American, similar to the 70% of Nobel laureates in Economics. Woodford, born in Chicopee, Massachusetts in 1955, teaches at Columbia University, while Hall, born in Palo Alto, California in 1943, is a professor at Stanford University. Woodford had previously received the BBVA Frontiers of Knowledge Award in Economics. Stabilization theories are attributed to John Maynard Keynes, considered a father of modern macroeconomics. A century ago, Keynes demonstrated the need to stimulate the economy during recessions by lowering interest rates and increasing the budget deficit, while curbing an economy in an upswing required cuts or containment measures. During the 1970s oil crises, it seemed that Keynesian models governing when and how to apply these measures stopped working. \"They didn't reduce unemployment but, on the contrary, caused uncontrollable inflation,\" and a belief grew that they had caused more harm than good and needed abandoning. Hall and Woodford rebuilt economic models to revive these stabilization theories. Instead of basing models on variables such as inflation, production, and consumption, they focused on microeconomics and sought to understand how to influence the decisions of households and businesses. \"When governments and central banks communicate their economic policy plans, they can influence this future vision and steer the economy in the right direction,\" states the Academy's announcement describing the authors' merits. Based on this premise, new models were constructed, which \"have proven very useful in dealing with the economic crises that have affected us.\" Last year's laureates were Joel Mokyr, Philippe Aghion, and Peter Howitt for innovative growth theories like creative destruction. In recent years, the Academy has been awarding long-term analyses attempting to explain why some societies prosper while others stagnate.",
  "summary": "La Academia Sueca entrega en Estocolmo el galardón que reconoce al premio Nobel de Economía",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}