Nobel Prize in Economics goes to pair of US economists

The 2026 Nobel Prize in Economic Sciences was awarded to Robert E. Hall and Michael Woodford, the Royal Swedish Academy of Sciences in Stockholm announced on Monday.

The pair got the Nobel for their work in microeconomic foundations of stabilization policy, allowing for the development of economic models that help governments and central banks respond more effectively to booms and recessions.

Hall is affiliated with Stanford University in California, and Woodford with Columbia University in New York.

"It's a tremendous honor, it's a surprise," Woodford said, addressing the committee by phone  from New York on Monday.