New Delhi, Oct. 12 -- American economists Robert E Hall and Michael Woodford have been awarded the 2026 Nobel Prize in Economic Sciences for their research on the microeconomic foundations of macroeconomic stabilisation, which has helped shape the way governments and central banks formulate economic policies.
Their work highlights how economic models based on the decisions of individual households and businesses can help policymakers better manage fluctuations in economic activity. The research provides a framework for designing fiscal and monetary policies aimed at limiting economic downturns and preventing excessive fluctuations in growth, inflation and consumption.
Hall is associated with Stanford University in California, while Woodfo...