Nobel Prize for economics awarded to Hall and Woodford for work on smoothing crises
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US economists Robert Hall of Stanford University and Michael Woodford of Columbia University have won the 2026 Nobel economics prize, worth a combined $1.2m (£900,000), awarded by the Royal Swedish Academy of Sciences. They were recognized for developing New Keynesian economic models with microeconomic foundations that help central bankers and finance ministries stabilize economies, avoid long recessions, and control runaway inflation by improving upon traditional models that failed during the 1970s oil shock.
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