Two Americans Win Economics Nobel

American economists Robert E. HallRobert HallAmerican economist of Stanford UniversityStanford Universityprivate research university in Stanford, California, USA and Michael WoodfordMichael Dean WoodfordAmerican economist of Columbia UniversityColumbia Universityprivate university in New York City, New York, US won the 2026 economics prize. The honor recognized their work on the microeconomic foundations of macroeconomic stabilization, which links broad economic policy to individual choices. Their work grew from the limits of older models after 1970s stagflation, when high inflation and high unemployment rose together. The economics award was created by Sweden’s central bank in 1968 in memory of Alfred Nobel. Woodford said by phone that the prize was a tremendous honor and a surprise. The prize carries 12 million Swedish kronor, which the two economists share. It was the final prize announced in the 2026 Nobel cycle.