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Woodford and Hall Win Nobel Prize for Microeconomic Foundations

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What happened

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Michael Woodford and Robert E Hall won the 2026 Nobel Prize in Economic Sciences for their work on the microeconomic foundations of macroeconomic stabilisation. The Royal Swedish Academy of Sciences announced the award, noting that the laureates demonstrated how economic models could be reconstructed to revitalize stabilisation policy.

From hindustantimes.com, indiablooms.com, bgnes.com

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The research provides a stable theoretical foundation for models used by central banks and governments globally. This work helps policymakers better deal with economic shocks, addressing limitations found in older Keynesian models during the 1970s oil crises.

From bgnes.com

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  1. Woodford and Hall receive Nobel Prize for microeconomic foundations.1 source
  2. Hassler chairs the prize committee at the RSA, recognizing new economic research.1 source

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