Stockholm:American economists Robert E. Hall and Michael Woodford have been awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, as announced by the Royal Swedish Academy of Sciences on October 12, 2026.

According to Burkina Information Agency, the prize was awarded to Hall and Woodford for their work on the microeconomic foundations of macroeconomic stabilization. This work provides a theoretical basis for models used by central banks and governments to implement fiscal and monetary measures that mitigate economic fluctuations.

John Hassler, chairman of the prize committee in economic sciences, highlighted the significance of their contributions, noting that the models developed by the laureates help address economic shocks, such as energy crises or sudden changes in household consumption patterns.

Robert E. Hall is affiliated with Stanford University in California, and Michael Woodford is a professor at Columbia University in New York.