Robert E. Hall and Michael Woodford awarded 2026 Nobel Prize in Economics for macroeconomic research

Exam-focused facts from the 12 October 2026 current affairs briefing.

Key facts

American economists Robert E. Hall and Michael Woodford have been awarded the 2026 Nobel Prize in Economics for developing macroeconomic models that help policymakers stabilise economies during booms and recessions.
The Royal Swedish Academy of Sciences said their work strengthened the theoretical basis for fiscal and monetary policies and improved governments' and central banks' ability to respond to economic fluctuations.
Robert E. Hall is a professor at Stanford University, while Michael Woodford is a professor at Columbia University.
The prize carries an award of 12 million Swedish kronor, to be shared equally between the two laureates.