Robert E Hall and Michael Woodford won the 2026 Nobel Prize in economics on Monday, October 11. The Royal Swedish Academy of Sciences awarded them for their work on microeconomic foundations of macroeconomic stabilizations. The prestigious prize is worth 12 million Swedish crowns and marks the final award given this year.
Robert E. Hall and Michael Woodford have won the 2026 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for their work on the microeconomic foundations of macroeconomic stabilisation.
American professors Robert E Hall and Michael Woodford have won the 2026 Nobel Prize in economics for "microeconomic foundations of macroeconomic stabilizations." The Royal Swedish Academy of Sciences awarded the prize in Stockholm on Monday (Oct 11). The prestigious award is officially known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. This is the final prize to be given out this year and is worth 12 million Swedish crowns ($1.2 million). The Nobel prizes for medicine, physics, chemistry, literature and peace were announced last week.
Last year's economics Nobel prize winners, Joel Mokyr, Philippe Aghion and Peter Howitt, won for work on "creative destruction" and how new technology and production methods can boost growth and living standards. The economics prize was first awarded in 1969 and is not one of the original five awards created in the 1895 will of industrialist and dynamite inventor Alfred Nobel. This was established by Sweden's central bank. The majority of previous laureates have been from the United States. Only three women have ever won, most recently Claudia Goldin in 2023 for work on how gender has affected pay and employment over time in the United States.