Two U.S. economists win 2026 Nobel Prize in Economics

China News Service, Beijing, October 12, Stockholm News: The Royal Swedish Academy of Sciences announced on the 12th that the 2026 Nobel Prize in Economics will be awarded to Robert E. Hall and Michael Woodford in recognition of their laying of the microeconomic foundation for macroeconomic stabilization policies.

The award committee pointed out in a press release issued on the same day that this year's Nobel Prize winner in economics developed a new macroeconomic model and significantly improved the ability to implement effective economic stabilization policies. Based on these models, timely fiscal and monetary policy measures can slow down economic fluctuations.

John Hassler, chairman of the Nobel Prize Committee in Economic Sciences, said that the laureates' research has laid a solid theoretical foundation for relevant models, which are currently used by central banks and governments around the world. "With the help of these models, we can better respond to economic shocks, such as energy crises or sudden changes in household consumption levels."

The two winners will share the prize of SEK 12 million equally.

According to information on the official website of the Nobel Prize, Robert E. Hall was born in California, USA, in 1943. He received his PhD from MIT in 1967 and is currently a professor at Stanford University in California, USA. Michael Woodford was born in 1955 in Massachusetts, USA. He received his PhD from MIT in 1983 and is currently a professor at Columbia University in New York, USA.