Nobel Prize in Economics for 2026 to be Awarded to Robert Hall and Michael Woodford

The Royal Swedish Academy of Sciences announced that the 2026 Nobel Prize in Economics will be awarded to Professors Robert Hall and Michael Woodford for laying the microeconomic foundations of macroeconomic stabilization. Their neo-Keynesian models are used by central banks and finance ministries worldwide. The prize amount has been increased to 12 million Swedish kronor to mark the 125th anniversary of the Nobel Prizes.

The Royal Swedish Academy of Sciences announced today (Monday) that the 2026 Nobel Prize in Economics will be awarded to Professors Robert Hall (Stanford University) and Michael Woodford (Columbia University). The two won the prize for 'laying the microeconomic foundations of macroeconomic stabilization.' Their research brought about a paradigm shift in stabilization policy; the neo-Keynesian models they developed make it possible to explain and quantify how stabilization policy affects business cycles, and they are currently used by central banks and finance ministries around the world. To mark the 125th anniversary of the Nobel Prizes, the Nobel Foundation increased the prize amount in each category from 11 to 12 million Swedish kronor (about 1.2 million dollars). The Economics Prize, which is not part of Alfred Nobel's will, has been awarded since 1969 on the initiative of the Central Bank of Sweden. To date, it has been awarded 57 times to 99 laureates. Last year, the winners were Joel Mokyr, Philippe Aghion, and Peter Howitt. The article also expands on other Nobel laureates for 2026: the Nobel Peace Prize will be awarded to South African jurist Navanthem (Navi) Pillay for her efforts to promote peace and international law; the Nobel Prize in Literature will be awarded to Canadian author Anne Carson; the Nobel Prize in Chemistry to Henry B. Kagan and Kenso Soai; the Nobel Prize in Physics to Francis Halzen; and the Nobel Prize in Physiology or Medicine to Karl Deisseroth, Peter Hegemann, and Georg Nagel.