Hall and Woodford have developed macroeconomic models that help governments and central banks to stabilize economies and to limit the impact of external shocks. According to the Nobel Committee, these models show that well-timed fiscal and monetary policy measures can reduce the economy’s peaks and troughs. Their work focuses on how households and businesses make decisions on purchases and pricing, and it became a foundation of the “New Keynesian” approach to economics.
Nobel Prize in Economic Sciences 2026 awarded to Robert E. Hall and Michael Woodford Nobel Prize in Economic Sciences 2026
The Royal Swedish Academy of Sciences announced on Monday in Stockholm that the 2026 Nobel Prize in Economic Sciences goes to the American economists Robert E. Hall (Stanford University) and Michael Woodford (Columbia University). The prize is awarded "for microeconomic foundations of macroeconomic stabilisation".
Nobel Prize in Economic Sciences 2026 awarded to Robert E. Hall and Michael Woodford
© Ill. Niklas Elmehed © Nobel Prize Outreach
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