2026 Nobel Prize in Economic Sciences awarded to US researchers Hall and Woodford

The 2026 Nobel Prize in Economic Sciences is awarded to American researchers Robert E. Hall and Michael Woodford for their work on the microeconomic foundations of macroeconomic stabilization. Hall is affiliated with Stanford University and Woodford with Columbia University.

The laureates are recognized for developing theoretical models and practical solutions that enhance the understanding and management of market fluctuations, inflation control, and central bank monetary policy. Their research has influenced policymakers globally, with the Nobel Committee noting that the full impact of such contributions typically takes 20–25 years to assess.

Robert Hall is also known for his role in determining the beginning and end of U.S. recessions through the NBER committee. Michael Woodford's seminal work, "Interest and Prices," is a key text in monetary policy theory that has shaped models used post-2008 financial crisis.

Awarded by the Sveriges Riksbank, the prize is considered a significant milestone in modern economic thought and policy.