{
  "id": 13952027,
  "title": "Americans Hall, Woodford win Nobel prize for work on stabilising economies",
  "url": "https://urgent.news/2026/10/12/americans-hall-woodford-win-nobel-prize-for-work-on-stabilising-13952027",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-12T12:03:19.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40443820/americans-hall-woodford-win-nobel-prize-for-work-on-stabilising-economies"
  },
  "original_language": "en",
  "account": "US economists Robert Hall and Michael Woodford were honored with the 2026 Nobel economics prize on Monday for their groundbreaking contributions to developing models that central banks and finance ministries worldwide use to stabilize economies, according to a statement from the prize committee. The prestigious award, worth 12 million Swedish crowns ($1.2 million), recognizes their work in addressing economic shocks, such as energy crises and shifts in household consumption, by incorporating micro-level decisions made by individuals and businesses.\n\nHall, 83, and Woodford, 70, emphasized that policymakers must consider the collective understanding of households and businesses when stabilizing an economy, rather than relying on top-down theories. This approach proved valuable in the aftermath of the global financial crisis of the late-2000s, allowing for more effective monetary policy tools. Both laureates also contributed concepts such as \"sticky\" inflation and the output gap, which measure the pressure on demand within an economy and its efficiency in resource utilization. The economics prize, established by Sweden's central bank in 1969, is one of the five Nobel prizes awarded annually, the others being for physics, chemistry, literature, and peace.",
  "summary": "STOCKHOLM: US academics Robert Hall and Michael Woodford won the 2026 Nobel economics prize on Monday for decades of work developing ground-up models currently used by central banks and finance ministries across the world to stabilise economies. “With them, we are better equipped to deal with shocks in the economy, such as energy crises or sudden changes in how much households consume,” John…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 8,
    "also_reported_by": [
      {
        "outlet": "The Indian Express",
        "title": "Robert E Hall and Michael Woodford win Nobel Prize for Economics 2026",
        "url": "https://urgent.news/2026/10/12/robert-e-hall-and-michael-woodford-win-nobel-prize-for-economics-2026",
        "published": "2026-10-12T09:52:33.000Z"
      },
      {
        "outlet": "France 24",
        "title": "🔴 Americans Robert E. Hall and Michael Woodford win Nobel Prize in Economics",
        "url": "https://urgent.news/2026/10/12/americans-robert-e-hall-and-michael-woodford-win-nobel-prize-in",
        "published": "2026-10-12T09:55:33.000Z"
      },
      {
        "outlet": "NDTV",
        "title": "Nobel Prize In Economics 2026 Awarded To US' Robert E Hall, Michael Woodford",
        "url": "https://urgent.news/2026/10/12/nobel-prize-in-economics-2026-awarded-to-us-robert-e-hall-michael",
        "published": "2026-10-12T10:04:31.000Z"
      },
      {
        "outlet": "Al-Monitor",
        "title": "Americans Hall, Woodford win Nobel prize for work on stabilising economies",
        "url": "https://urgent.news/2026/10/12/americans-hall-woodford-win-nobel-prize-for-work-on-stabilising",
        "published": "2026-10-12T10:46:30.000Z"
      },
      {
        "outlet": "Hindustan Times - World News",
        "title": "Nobel Economics Prize 2026: Who are Robert Hall and Michael Woodford, and how can they help control economic shocks?",
        "url": "https://urgent.news/2026/10/12/nobel-economics-prize-2026-who-are-robert-hall-and-michael-woodford",
        "published": "2026-10-12T11:12:51.000Z"
      },
      {
        "outlet": "Al Jazeera",
        "title": "Nobel economics prize awarded to Robert Hall and Michael Woodford",
        "url": "https://urgent.news/2026/10/12/nobel-economics-prize-awarded-to-robert-hall-and-michael-woodford",
        "published": "2026-10-12T12:35:08.000Z"
      },
      {
        "outlet": "Handelsblatt",
        "title": "Forschung: Wirtschaftsnobelpreis geht an US-Ökonomen Hall und Woodford",
        "url": "https://urgent.news/2026/10/12/forschung-wirtschaftsnobelpreis-geht-an-us-okonomen-hall-und-woodford",
        "published": "2026-10-12T13:16:27.000Z"
      }
    ]
  },
  "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."
}