Stockholm, Oct. 12 -- The Royal Swedish Academy of Sciences on Monday awarded the 2026 Sveriges Riksbank Prize in Economic Sciences to Robert E Hall of Stanford University and Michael Woodford of Columbia University for their work on the "microeconomic foundations of macroeconomic stabilisation."

In a post on X, the Royal Swedish Academy of Sciences said it had decided to award the prize to Hall and Woodford for their contributions to developing economic models that have significantly improved the ability of governments and central banks to implement effective stabilisation policies.

"The laureates' work has provided us with a stable theoretical foundation for the models that are now used by central banks and governments around the worl...