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Nobel Prize in Economics Awarded to American Researchers Hall and Woodford
The 2026 Nobel Prize in Economic Sciences has been awarded to American professors Robert Hall of Stanford University and Michael Woodford of Columbia University. The Royal Swedish Academy of Sciences announced the award on Monday, recognizing their research on macroeconomic stability and stabilization policies.
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What happened
- 01Americans Robert Hall of Stanford University and Michael Woodford of Columbia University won the 2026 Nobel Prize in Economics.
- 02The Royal Swedish Academy of Sciences announced the award on Monday for their research on macroeconomic stabilization policies.
- 03Their neo-Keynesian models are widely used by central banks and finance ministries globally to manage business cycles.
- 04The Nobel Foundation increased the prize money to 12 million Swedish kronor, approximately 1.2 million dollars, for the 125th anniversary.
- 05Last year's Nobel Prize in Economics was shared by three economists, including Israeli Yoel Mokyr.
- 06Previous Nobel laureates in economics with Israeli connections include Daniel Kahneman, Yisrael (Robert) Aumann, and Joshua Angrist.
According to Kan News, the prize specifically honors their foundational work on the microeconomic underpinnings of macroeconomic stabilization. Their neo-Keynesian models, which explain and quantify the impact of stabilization policies on business cycles, have caused a paradigm shift and are now widely used by central banks and finance ministries globally.
This year marks the 125th anniversary of the Nobel Prizes, and the Nobel Foundation has increased the prize money in each category to 12 million Swedish kronor, which is approximately 1.2 million dollars. The Economics Prize was established in 1969 by Sweden's central bank and has been awarded 57 times to 99 recipients.
Last year's prize was shared by three economists, including Israeli Yoel Mokyr. Other previous Nobel laureates in economics with Israeli connections include Daniel Kahneman, Yisrael (Robert) Aumann, and Joshua Angrist.
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