Two Americans win Nobel prize for models to tackle economic downturns

Hall and Michael Woodford have won the 2026 Nobel prize in economics for developing new economic models that help governments and central banks stabilize their economies to minimize the impact of external shocks.

The Royal Swedish Academy of Sciences awarded the prize in Stockholm on Monday. “The laureates have helped us smooth out the economy’s peaks and troughs,” the academy said in a statement, adding that their models have been “extremely helpful in dealing with the economic downturns that have affected us.” Hall, born in Palo Alto, California in 1943, is a professor at Stanford University.

Woodford, born in Chicopee, Massachusetts in 1955, is a professor at Columbia University.

They will each receive 6 million Swedish kronor ($598,000) in prize money.

Their work “has provided us with a stable theoretical foundation for the models that are now used by central banks and governments around the world,” noted John Hassler, the chair of the Committee for the Prize in Economic Sciences.PM orders FBR to expand automated production monitoring in industries by year-endKP will follow Islamabad now, not Kabul, says GovernorNIPCO House, 4 – Shaharah e Fatima Jinnah,Tel: +92 42 36367580 | Fax….

Hall and Michael Woodford have won the 2026 Nobel prize in economics for developing new economic models.