Hall and Woodford share 2026 Nobel economics prize
Stanford's Robert Hall and Columbia's Michael Woodford were jointly honoured for decades of research on models that guide responses to economic shocks. Their studies of household and firm behaviour have also given policymakers new tools.
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What happened
The Royal Swedish Academy of Sciences named US academics Robert Hall and Michael Woodford as winners of the 2026 Nobel economics prize. The pair were recognised for decades of work on models used to manage economic shocks. Hall is based at Stanford and Woodford at Columbia.
Why it matters
Their studies of consumer and business decisions have reshaped how central banks respond to crises. Their work also gives policymakers new tools.
Timeline
- Oct 12, 6:57 AM ET: The Royal Swedish Academy announced Robert E. Hall and Michael Woodford as winners of the Nobel memorial prize in economics.
- Oct 12, 10:37 AM ET: Commentary noted that Hall and Woodford's research shaped the Federal Reserve's forward guidance, a practice Kevin Warsh has said has gone too far.
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