Robert E. Hall and Michael Woodford are awarded the Prize in Economic Sciences 2026
News The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2025 (the Economics prize) to Robert E. Hall and Michael Woodford for having developed new macroeconomic models that have significantly improved our ability to implement effective stabilisation policy.
The Riksbank founded the Nobel Prize in Economics with the assistance of a donation in conjunction with the Bank’s 300th anniversary in 1968. With this donation, the Riksbank undertook to award prize money every year in an amount equivalent to that awarded for the other Nobel Prizes. The laureates, however, are appointed by the Royal Swedish Academy of Sciences. The prize was awarded for the first time in 1969 and is awarded, every year, to a person or persons who have produced work of outstanding importance in the field of economic sciences.