{
  "id": 13938983,
  "title": "Americans Hall and Woodford win economics Nobel for stabilisation models",
  "url": "https://urgent.news/2026/10/12/americans-hall-and-woodford-win-economics-nobel-for-stabilisation",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-12T11:03:31.000Z",
  "source": {
    "name": "Dawn Business",
    "slug": "dawn-business",
    "url": "https://www.dawn.com/news/2036627/americans-hall-and-woodford-win-economics-nobel-for-stabilisation-models"
  },
  "original_language": "en",
  "account": "Robert Hall and Michael Woodford, Americans Robert Hall and Michael Woodford, were awarded the 2026 Nobel Prize in Economics on Monday for their work on stabilizing models of monetary and fiscal policy. The two were honored for developing new models to manage recessions and crises that traditional tools fail to address. The Royal Swedish Academy of Sciences stated that these models enable timely fiscal and monetary measures to reduce economic peaks and troughs. Hall, 83, from Stanford University, and Woodford, 50, from Columbia University, independently developed these models by focusing on a microeconomic foundation rather than statistical links between macroeconomic variables. They considered the total impact of households and businesses on the economy, emphasizing forward-looking behavior of individuals in decision-making. This understanding allows government and central bank communication to influence future expectations. The laureates' work provides a stable theoretical basis for models used by central banks and governments worldwide. John Hassler, chair of the Prize Committee, praised the laureates' contribution to economic policy discussion and public understanding. Woodford emphasized that his theories were not motivated by political agendas but aimed to improve economic policy management and public comprehension. Created in 1968 by a donation from the Swedish central bank, the economics Nobel is the only Nobel Prize not among the original five. Last year's award went to Joel Mokyr, Philippe Aghion, and Peter Howitt for technology growth research.",
  "summary": "Americans Robert Hall and Michael Woodford were awarded the Nobel economics prize on Monday for their work on how monetary and fiscal policy can better stabilise disruptive economic fluctuations. The two were honoured for developing new models for managing recessions and other crises that fail to respond to traditional tools. “On the basis of these models, well-timed fiscal and monetary policy…",
  "key_points": [
    "Robert Hall and Michael Woodford awarded 2026 Nobel Prize in Economics",
    "Developed new models to manage recessions and crises",
    "Models enable timely fiscal and monetary measures to reduce economic fluctuations"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 7,
    "also_reported_by": [
      {
        "outlet": "Japan Times",
        "title": "Robert Hall and Michael Woodford win 2026 Nobel economics prize",
        "url": "https://urgent.news/2026/10/12/robert-hall-and-michael-woodford-win-2026-nobel-economics-prize",
        "published": "2026-10-12T09:52:00.000Z"
      },
      {
        "outlet": "The New York Times",
        "title": "Robert E. Hall and Michael Woodford Awarded Nobel for Economics",
        "url": "https://urgent.news/2026/10/12/robert-e-hall-and-michael-woodford-awarded-nobel-for-economics",
        "published": "2026-10-12T10:05:02.000Z"
      },
      {
        "outlet": "Seeking Alpha News",
        "title": "U.S. economists Hall, Woodford win Nobel Economics Prize 2026",
        "url": "https://urgent.news/2026/10/12/u-s-economists-hall-woodford-win-nobel-economics-prize-2026",
        "published": "2026-10-12T10:16:11.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Americans Hall and Woodford win economics Nobel for stabilisation models",
        "url": "https://urgent.news/2026/10/12/americans-hall-and-woodford-win-economics-nobel-for-stabilisation-13941387",
        "published": "2026-10-12T10:22:28.000Z"
      },
      {
        "outlet": "The Local Sweden",
        "title": "Americans win Sweden's economics Nobel for stabilisation models",
        "url": "https://urgent.news/2026/10/12/americans-win-swedens-economics-nobel-for-stabilisation-models",
        "published": "2026-10-12T10:52:00.000Z"
      },
      {
        "outlet": "The Indian Express",
        "title": "Today News Headlines for School Assembly, October 13, 2026: Nobel Prize winners in Economics announced; Jantar Mantar denotified as designated protest site",
        "url": "https://urgent.news/2026/10/12/today-news-headlines-for-school-assembly-october-13-2026-nobel-prize",
        "published": "2026-10-12T11:02:43.000Z"
      }
    ]
  },
  "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."
}