Hall and Woodford win economics prize for stabilization models
Robert E. Hall and Michael Woodford have won the economics prize for macroeconomic models supporting effective stabilization policy. The Riksbank notice, published October 12, 2026, identifies the award year inconsistently.
Models behind stabilization policy
The Royal Swedish Academy of Sciences selected Robert E. Hall and Michael Woodford for developing new macroeconomic models that improved the ability to implement effective stabilization policy.
The notice names the award as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.
Its headline identifies the prize as the 2026 award, but the announcement text refers to the 2025 prize.
The publication and update dates are both October 12, 2026.
The notice does not resolve that discrepancy.
It attributes the recognition to the laureates' contributions to macroeconomic modeling, without describing individual models or specific policy applications.
A donation dating to 1968
The Riksbank established the economics prize through a donation marking the bank's 300th anniversary in 1968.
It committed to providing annual prize money equal to the amounts awarded for the other Nobel Prizes.
The Royal Swedish Academy of Sciences appoints the laureates, rather than the Riksbank.
First awarded in 1969, the prize recognizes one or more people each year for work of outstanding importance in economic sciences.
The notice lists the Press Office contact as +46 8-7870200.
Recognition, not policy instruction
The award recognizes research underpinning stabilization policy, rather than a policy decision.
The notice gives no model specifications or implementation guidance.
Its conflicting award years leave the timing of the recognition unresolved within the source.