{
  "id": 13942287,
  "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-13942287",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-12T10:22:28.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/world/2026/10/12/americans-hall-and-woodford-win-economics-nobel-for-stabilisation-models"
  },
  "original_language": "en",
  "account": "American economists Robert Hall and Michael Woodford were awarded the 2021 Nobel Economics Prize on Monday for their work on stabilizing economic fluctuations through monetary and fiscal policy. The Royal Swedish Academy of Sciences stated that their work has provided a solid theoretical foundation for models now used by central banks and governments worldwide. This allows them to better handle economic shocks like energy crises or sudden changes in household consumption, according to John Hassler, chair of the prize committee. During the 1970s oil crises, traditional Keynesian models for determining policy responses to recessions or other economic fluctuations became ineffective. Hall and Woodford developed new tools for understanding which policy responses would be most effective by building their models on a microeconomic foundation, based on the actions of individual households and businesses rather than statistical links between macroeconomic variables. The Nobel Prize in Economic Sciences, created in 1968 through a donation from the Swedish central bank, consists of a diploma, a gold medal, and a $1.2 million cash prize.",
  "summary": "The Royal Swedish Academy of Sciences said the laureates’ research laid the groundwork for models used by central banks and governments worldwide.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 8,
    "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"
      },
      {
        "outlet": "Dawn Business",
        "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",
        "published": "2026-10-12T11:03:31.000Z"
      }
    ]
  },
  "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."
}