US economists Robert Hall and Michael Woodford win 2026 Nobel Prize in Economics
What Happened
American economists Robert E. Hall and Michael Woodford have won the 2026 Nobel Prize in Economic Sciences for their work on the microeconomic foundations of macroeconomic stabilisation. The Royal Swedish Academy of Sciences said their research helped build the theoretical framework used by central banks and governments to manage economic shocks and stabilisation policies.
Key Takeaways
Their work underpins many modern economic models used to guide monetary and fiscal policy, helping policymakers respond to crises such as energy shocks and sharp changes in consumer spending.