Afghanistan, Oct. 12 -- American economists Robert E. Hall and Michael Woodford won the 2026 Nobel Memorial Prize in Economic Sciences on Monday for their research on the microeconomic foundations of macroeconomic stabilization, which has helped shape how governments and central banks respond to economic shocks.
The Royal Swedish Academy of Sciences announced the award, recognizing research that strengthened the theoretical basis of economic models used to understand fluctuations in economic activity and assess the effects of monetary and fiscal policies. These models help policymakers examine how households and businesses respond to changes in interest rates, prices and economic conditions.
The research has contributed to the development...