Hall and Woodford win Nobel Prize in economics
American economists Robert E. Hall and Michael Woodford have won the 2026 Nobel Prize in Economic Sciences for research that helped improve policies to stabilise economies, reports a Qazinform News Agency correspondent.
The Royal Swedish Academy of Sciences announced the award on October 12, recognizing their contributions to the foundations of macroeconomic stabilization.
Their work connects the decisions of households and businesses with developments across the wider economy. The researchers developed models that strengthened understanding of how governments and central banks can respond to economic fluctuations.
Such models help policymakers assess how changes in interest rates, public spending and taxation affect consumption, investment and economic activity. They provide a framework for designing measures to limit damaging swings in output and employment.
The award recognizes the importance of understanding individual economic behavior when shaping policies intended to support stability.
Formally known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, the economics prize was established in 1968 to mark the Swedish central bank’s 300th anniversary.
Earlier, Qazinform News Agency reported that South African jurist and former United Nations High Commissioner for Human Rights Navanethem “Navi” Pillay was awarded the 2026 Nobel Peace Prize for her efforts to promote peace and uphold international law.
